Welcome to the Make Markets Work for Climate website
Welcome to the internet site on the theme of Make Markets Work for Climate.
In October 2006 the Dutch minisitry of Environment, Shell, ABN Amro and the World Bank Group organised a conference in Amsterdam on this theme. Among others Dutch prime minister Balkende, Rijkman Groenink, Chairman of the Managing Board of ABN AMRO and Ms Katherine Sierra, Vice President of The World Bank Group contributed to this conference.
The complete programme and results of the conference (including movies and mindmaps) are available here.
This site further includes additional information, developments and activities surrounding the theme of Make Markets Work for Climate.
What is Make Markets Work for Climate about?
In developing countries with rapidly growing economies, energy consumption will more than triple by 2030. This will require more than 8 trillion euros in investments in energy in these countries. The way these investments are made will be crucial in determining whether greenhouse gas emissions will rise proportionately.
By creating a worldwide, lucrative market for clean technologies, countries can use the money they set aside for fighting climate change to stimulate large-scale private investment in clean energy production and efficient energy consumption. A well-functioning market ensures that money is invested where it will be the most cost-effective and will have the greatest impact in helping to solve a generally recognised problem. This also means making sure that innovations get to the market, so as to take advantage of economies of scale.
The conference on 16 and 17 October 2006 in Amsterdam was the official start of the collaboration of governments, business and financial institutions to Make Markets Work for Climate. At the conference it was underlined that coordinated strategies are needed for international financial institutions, private banks, private investors and governments. Business and governments stand shoulder to shoulder in shaping the much needed actions on climate change.
The participants agreed that potentially profitable opportunities exist for investment in commercial technologies in developing countries, especially aimed at energy efficiency. An enabling environment is needed in developing countries to attract funds for clean energy. Attention should be paid to less-developed countries. They have difficulty profiting from the current CDM market and are unable to compete on the technology learning curve.
In order to make markets work for climate there is a strong need for long-term continuity in the carbon market beyond 2012. Governments need to create stable incentives for business to invest in clean energy technologies. Business is ready to make those investments, but they need assurances that carbon will retain its value long term. We mustn‘t lose momentum. Leadership is needed now, from business as well as governments.
The conference partners – ABN Amro, the World Bank group, Shell, WBCSD, IETA and the Dutch government – are committed to continue their work on making markets work for climate. They will urge private companies, financial institutions and governments to work together to make markets work for climate now.