Business leaders unhappy with COP15 deal

They can do more to persuade their colleagues. It is a bit disingenuous. After all, the governments represent the commercial interests in a large part.

Business chiefs hit at climate agreement

Global energy businesses are disappointed and confused by the climate deal agreed in Copenhagen, saying it does not provide enough certainty to justify the huge investments needed to cut carbon emissions.

The deal – agreed by major economies including the US and China on Friday evening but not formally adopted by the United Nations – makes a commitment to limit the rise in global temperatures but does not specify caps on emissions to achieve that objective.

Chief executives and business groups in Europe were particularly critical of the deal. Peter Voser – the chief executive of oil and gas group Royal Dutch Shell, which has supported limiting emissions – said “much more” was needed.

The role of business will be crucial in fighting the threat of global warming, with the private sector expected to provide about 90 per cent of the $500bn a year investment needed.