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DEC
14 TO D
EC 18, 20
15
US BUSINESSAND
POST-COP21: ALIGNING
CLIMATET
he
C
OP
21
c
lima
te
su
mm
it in
P
aris
in
stille
d
a
se
ns
e
of
urg
en
cy
a
mo
ng
w
orld
le
ad
ers
a
nd
fo
rge
d
ne
w
go
als
fo
r
bo
th c
lima
te a
nd
e
ne
rgy
. A
h
an
d-
pic
ke
d g
rou
p o
f le
ad
ing
ex
pe
rts a
cro
ss
the
clim
ate
an
d e
ne
rgy
sp
ec
trum
en
ga
ge
d in
a v
irtua
l dia
log
ue
to e
va
lua
te th
e o
utc
om
es
of C
OP
21
, an
d
de
term
ine
its im
plic
atio
ns
for th
e fu
ture
of g
lob
al c
lima
te
an
d in
du
stry
in th
e U
.S.
23 PARTIC
IPANTS | 118 P
OSTS
DEC
14 TO D
EC 18, 20
15
US BUSINESSAND
POST-COP21: ALIGNING
CLIMATET
he
C
OP
21
c
lima
te
su
mm
it in
P
aris
in
stille
d
a
se
ns
e
of
urg
en
cy
a
mo
ng
w
orld
le
ad
ers
a
nd
fo
rge
d
ne
w
go
als
fo
r
bo
th c
lima
te a
nd
e
ne
rgy
. A
h
an
d-
pic
ke
d g
rou
p o
f le
ad
ing
ex
pe
rts a
cro
ss
the
clim
ate
an
d e
ne
rgy
sp
ec
trum
en
ga
ge
d in
a virtual dialogue
! to
ev
alu
ate
the
ou
tco
me
s o
f CO
P2
1,
an
d
de
term
ine
its
im
plic
atio
ns
fo
r th
e
futu
re
of
glo
ba
l
clim
ate
an
d in
du
stry
in th
e U
.S.
23 PARTIC
IPANTS | 118 P
OSTS
PARTICIPANTS
Ripudam
an Malhotra
Co-author: A C
ubic Mile of O
ilIndependent C
onsultantFacilitator
Bill B
aueC
orporate Sustainability ArchitectC
o-Facilitator
Rene D
e Coning
Global Strategic Insight Lead
Oil &
Gas Industry
Co-Facilitator
Raj Tham
otheramC
hief Executive Officer
Preventable Surprises
Co-Facilitator
Alison W
iseC
lean Tech & Innovation
Executive/Strategist
Andrew
Winston
Author, The Big Pivot & G
reen to Gold
Adviser/Speaker
Andy H
oward
FounderD
idas Research
Bardi U
go P
rofessor, Physical C
hemistry
University of Florence
Billy G
raysonD
irector of SustainabilityLiberty P
roperty Trust
Charles S
ecrettSustainability Advisor, Analyst &
Cam
paigner
Eric Corey Freed,
Vice President, Global O
utreachInternational Living Future Institute
Garratt H
asenstabC
hief Executive Officer
The Mountain Life C
ompanies
Guillerm
o Pastor
Senior Independent Consultant
Oil &
Gas Industry
Guy M
cPherson
Professor Em
eritusU
niversity of Arizona
Hunter Lovins
President
Natural C
apitalism Solutions
Th
is eng
agem
ent b
rou
gh
t tog
ether th
e follo
win
g exp
erts:
2
PARTICIPANTS
James BaireyPro Bono Clean Energy Independent Consultant
Jason KliwinskiFounder & CEOThe Green Building Center
Julie GorteSVP, Sustainable InvestingPax World
Lily DongePrincipal, Business Renewables CenterRocky Mountain Institute
Mark TrexlerClimate Risk Knowledge BrokerThe Climatographers
Michael DutschkeChairmanGlobal Conservation Standard
Robert BryceSenior FellowManhattan Institute for Policy Research
Sam DeLaySenior Program Manager, Energy UtilizationTennessee Valley Authority
Sanford LewisStrategic Counsel, Corporate AccountabilitySanford Lewis, Attorney
Ski MilburnManaging Member & CEOVAIREX Air Systems
Tabaré Arroyo CurrásGlobal Advisor on Energy EconomicsWorld Wildlife Foundation International
Thomas O. MurthaManaging DirectorSource Capital Group
T h i s e n g a g e m e n t b ro u g h t t o g e t h e r t h e f o l l o w i n g e xp e r t s :
3
2
EXECUTIVE SUMMARY
1
4
2
3
Responses to the COP21 agreement ! ranged from glowing to skeptical, but ultimately highlighted the gap between GHG
reduction needs and pledges made.
There is no silver bullet to achieve the goals, but rather a “cocktail” of solutions.
The private sector may be best positioned to drive these solutions and the business case is compelling.
Because accountability is unclear and pledges are voluntary, however, fulfillment will take courageous acts of leadership at all levels.
4
1
The Glowing
“COP21 is a magnificent achievement. It is more than we
had any right to expect that we
could pull off.”
– Hunter Lovins, President, Natural Capitalism Solutions
“The significance of the signing of the agreement can't be
understated. The signing by
nearly 200 nations shows that
the debate over climate change
is over.”
- Eric Corey Freed, VP, International Living Future Institute
The Skeptical
“It's a start, but we're running
out of time for starts”
- Ski Milburn, Managing Member & CEO at VAIREX air systems
“The Paris Agreement is full of
ambition. It also contains
ambiguities and oratory calls for
action, as opposed to a concrete,
enforceable path forward to
limiting climate change to 2C,
much less 1.5C.”
- Mark Trexler, Climate Risk Knowledge Broker, The Climatographers
THE GAPWhile the COP21 Agreement set a goal of limiting global temps to 2°C above the preindustrialization level with a stretch goal of 1.5°C, all the pledges made at the conference would amount to no fewer than 2.7°C warming.
K E Y F I N D I N G S
Responses to the COP21 agreement ranged from glowing to skeptical, but ultimately highlighted the gap between GHG
reduction needs and pledges made.
5
The target calls for reducing GHG emissions by 1,300 Gt CO2 by 2050 !; Pledged amounts through 2025 add up to roughly 120 Gt, or less than 10%. Sure, we can expect more pledges to be made in subsequent years, but this is where we stand.
Re
ne
wa
ble
s“R
en
ew
ab
le
de
plo
ym
en
t w
ill c
on
tinu
e
at
a
bre
ak
ne
ck
p
ac
e
an
d
oil
isn
't g
oin
g
an
yw
he
re
an
ytim
e s
oo
n.”
–
Billy
Grayson,
Director
of Sustainability,
Liberty P
roperty Trust
Nu
cle
ar
“…th
e
US
n
ee
ds
to
e
na
ct
po
licie
s
tha
t w
ill
inc
ub
ate
c
om
pa
nie
s
tha
t a
re
de
sig
nin
g
sa
fer
ch
ea
pe
r rea
cto
rs.”
– R
obert Bryce, Senior Fellow
, Manhattan Institute for
Policy R
esearch
En
erg
y S
tora
ge
“En
erg
y
sto
rag
e
is
po
ise
d
for
a
bre
ak
thro
ug
h.
Se
ve
ral
co
mp
etin
g
tec
hn
olo
gie
s
are
p
us
hin
g
sto
rag
e to
ca
pa
citie
s w
e n
ev
er th
ou
gh
t po
ss
ible
.”
–
Eric C
orey Freed,
VP,
International Living
Future Institute
Bio
ga
s a
nd
Bio
fue
ls“B
iog
as
an
d b
iofu
els
are
an
un
tap
pe
d a
nd
sm
all
ma
rke
t tha
t is s
et to
ex
plo
de
, giv
en
the
ne
ed
for
de
ce
ntra
lize
d
farm
ing
a
nd
a
gric
ultu
re,
an
d
the
need to find ways to deal w
ith the waste.”
– Eric C
orey Freed, VP
Global O
utreach at International Living Future Institute
Th
ere
is
n
o s
ilv
er b
ulle
t to
ac
hie
ve
the
go
als
, bu
t rath
er a
“c
oc
kta
il”
of s
olu
tio
ns
.
2K
EY
FIN
DIN
GS
“…
ca
rb
on
go
als
co
uld
be
ac
hie
va
ble
bu
t it will b
e d
ue
to a
co
mb
ina
tion
of
shu
ttering
coa
l fired
pla
nts, en
ergy effi
ciency, d
ema
nd
respo
nse, a
nd
p
oten
tially levera
ged
electrifica
tion
with
con
sum
er techn
olo
gy.”
- S
am
D
eL
ay
, T
en
ne
ss
ee
V
alle
y A
uth
ority
“T
he
req
uis
ite s
ca
le fo
r c
ha
ng
e is
cub
ic mile o
f oil eq
uiva
lent !
”
- R
ip
ud
am
an
M
alh
otra
, C
o-
Au
th
or: C
ub
ic
M
ile
o
f O
il
6
Th
e p
riv
ate
s
ec
to
r is
b
es
t p
os
itio
ne
d to
driv
e c
ha
ng
e to
wa
rds
this
g
oa
l an
d th
e b
us
in
es
s c
as
e is
c
om
pe
llin
g.
3K
EY
FIN
DIN
GS
Overall, the financial im
pacts on the US econom
y fro
m c
lima
te c
ha
ng
e a
nd
US
imp
lem
en
tatio
n o
f
CO
P2
1 c
om
mitm
en
ts w
ill be
:
POSITIVE6
VO
TE
S
VERY POSITIVE3
VO
TE
S
NEGATIVE0
VO
TE
S
VERY NEGATIVE0
VO
TE
S
NEUTRAL1
VO
TE
“Th
ere
is
re
as
on
to
e
xp
ec
t th
at
the
ro
le
of
the
in
ve
stm
en
t
co
mm
un
ity, a
t lea
st in
the
US
, is
like
ly
to
be
co
me
m
ore
rig
oro
us
an
d im
pa
ctfu
l po
st C
OP
21
.”
- S
anford Lew
is, Environm
ental A
ttorney
“Win
dm
ills
will
ge
t b
ette
r, s
ola
r
will g
et b
ette
r, ba
tterie
s w
ill ge
t
be
tter,
as
w
ill fu
el
ce
lls,
an
d
hy
dro
, an
d g
eo
the
rma
l an
d e
ve
n
nu
cle
ar. A
nd
[the
re] w
ill be
ple
nty
of
mo
ne
y
to
be
m
ad
e
on
th
os
e
imp
rov
em
en
ts.”
- Ski M
ilburn, Managing M
ember &
C
EO at VA
IREX
air systems
7
ESTABLISHING A ROBUST CARBON TAX
7 V
OT
ES
INVESTOR ACTION (DIVESTMENT - PORFOLIO
DECARBONIZATION - FORCEFUL STEW
ARDSHIP)6
VO
TE
S
CREATING REGULATION ENCOURAGING SW
IFT TRANSITION FROM HIGH
CARBON OPTIONS4
VO
TE
S
CORPORATE INNOVATION OF 2-DEGREE BUSINESS
MODELS4
VO
TE
S
ADHERENCE TO EXISTING INDCS
2 V
OT
ES
CREATING ENABLING REGULATION FOR LOW
CARBON SOLUTIONS
2 V
OT
ES
OTHER0
VO
TE
S
RATCHETING UP INDCS IN ADVANCE OF 5-YEAR
DEADLINE5
VO
TE
S
Wh
ich
3 te
ch
no
log
ies
/ so
lutio
ns
ho
ld th
e g
rea
tes
t pro
mis
e fo
r mitig
atin
g / a
da
ptin
g
to c
lima
te c
ha
ng
e a
nd
de
live
ring
on
CO
P2
1 c
om
mitm
en
ts (a
nd
be
yo
nd
)?
Be
ca
us
e re
sp
on
sib
ility is
un
cle
ar a
nd
ple
dg
es
are
vo
lun
tary
, fulfillm
ent will take courageous acts of leadership
at a
ll lev
els
.
KE
Y F
IND
ING
S
4
8
“If w
e
ex
pe
ct
rea
l c
ha
ng
e
with
in
ou
r tim
e,
the
lea
de
rs
of
ou
r n
atio
n
mu
st
'pu
t th
eir
mo
ne
y
wh
ere
th
eir
mo
uth
is
' a
nd
s
tan
d
tog
eth
er
to
se
rve
as
a b
ea
co
n o
f su
sta
ina
bility
for th
e w
orld
to emulate, and w
hy not, there is endless profit to b
e m
ad
e in
this
pu
rsu
it of a
su
sta
ina
ble
futu
re.”
– G
arratt Hasenstab, C
EO, The M
ountain Life Com
panies
“Th
e a
nn
ou
nc
em
en
t by
Bill G
ate
s a
t the
sta
rt of
CO
P2
1 fo
r inc
rea
se
d R
&D
inv
es
tme
nts
by
priv
ate
and governm
ent sectors
is significant,
pa
rticu
larly
for n
as
ce
nt te
ch
no
log
ies
stru
gg
ling
to c
ros
s th
e “v
alle
y o
f de
ath
” an
d tra
ns
ition
to
co
mm
erc
ializ
atio
n.”
– Julie G
orte, SVP, Sustainable Investing at P
ax World
Be
ca
us
e re
sp
on
sib
ility is
un
cle
ar a
nd
ple
dg
es
are
vo
lun
tary
, fulfillm
ent will take courageous acts of leadership
at a
ll lev
els
.
KE
Y F
IND
ING
S
4
9
DEC
14 TO D
EC 18, 20
15
US BUSINESSAND
POST-COP21: ALIGNING
CLIMATET
he
C
OP
21
c
lima
te
su
mm
it in
P
aris
in
stille
d
a
se
ns
e
of
urg
en
cy
a
mo
ng
w
orld
le
ad
ers
a
nd
fo
rge
d
ne
w
go
als
fo
r
bo
th c
lima
te a
nd
e
ne
rgy
. A
h
an
d-
pic
ke
d g
rou
p o
f le
ad
ing
ex
pe
rts a
cro
ss
the
clim
ate
an
d e
ne
rgy
sp
ec
trum
en
ga
ge
d in
a v
irtua
l dia
log
ue
to e
va
lua
te th
e o
utc
om
es
of C
OP
21
, an
d
de
term
ine
its im
plic
atio
ns
for th
e fu
ture
of g
lob
al c
lima
te
an
d in
du
stry
in th
e U
.S.
23 PARTIC
IPANTS | 118 P
OSTS
CONCLUSIONA
s th
is c
on
ve
rsa
tion
an
d th
e C
OP
21
su
mm
it rein
forc
ed
, the
tec
hn
olo
gic
al c
ap
ab
ilities
, bu
sin
es
s c
as
e, a
nd
pe
rha
ps
ev
en
po
litica
l w
ill a
re
alig
ne
d
to
rea
lize
a
<
2°C
g
lob
al
tem
pe
ratu
re ris
e.
Ultim
ately, realization of these goals hinge on a change of heart in public sentim
ent. This, in turn, must be m
atched by a change in behavior at every level. W
hat we need is
nothing short of a social revolution.
“…c
lima
te c
ha
ng
e is
still a
pa
rtisa
n is
su
e, u
se
d to
fue
l dis
rup
tion
an
d
co
nfu
sio
n
am
on
g
the
m
as
se
s,
res
ultin
g
in
dim
inis
he
d
pu
blic
ac
ce
pta
nc
e
an
d
slo
we
d
mo
me
ntu
m
tow
ard
fu
ll-fle
dg
ed
p
os
itive
po
licy
ch
an
ge
. Co
uld
this
all ju
st c
om
e d
ow
n to
so
cia
l rev
olu
tion
?…
Wh
at w
ou
ld
brin
g
forth
th
e sig
nifican
t ch
ang
e in
w
hich
en
ergy
pro
du
ctio
n a
nd
GH
G e
mis
sio
ns
co
uld
be
se
en
thro
ug
h th
e le
ns
es
of
econ
om
ic ju
stice an
d
social
ben
efit as
op
po
sed
to
the
curren
t p
ara
dig
m?
Ho
w c
an
we
driv
e th
is c
ha
ng
e?
”
- G
arra
tt H
as
en
sta
b, C
EO
a
t T
he
M
ou
nta
in
L
ife
C
om
pa
nie
s