The Future of Controlling Climate Change

Though it marked an important step in the battle against global warming, the Kyoto Protocol of 1997 left a lot to be desired from nearly any viewpoint.  Ultra-capitalists and climate change skeptics decried it as a thinly veiled scheme to redistribute wealth away from the industrialized nations of the world, while many environmentalists charged it did not go far enough in its climate protections.

In the end, the world’s leading carbon dioxide producer, the United States, failed to ratify the treaty, and in the years since Kyoto took effect, many developing nations not as tightly regulated by the agreement, such as India and China, have industrialized their way into the ranks of the biggest carbon polluters in the world.

Currently, the United Nations is attempting to convene another summit on global climate change before the end of next year.  World leaders are optimistic that this new agreement will be more successful than Kyoto, because the nations of the world are far more aware of the threat being faced this time around.

As UN climate panel chief Rajendra Pachauri puts it, “There's a question of national prestige involved...if this momentum continues you will get an agreement that is not too full of compromises.”  Even China, traditionally resistant to international pressure, is expected to support new climate regulations, as data models predict its food supply could take a massive hit should global warming trends continue.

But it may turn out that, by the end of next year, a new global climate agreement is no longer needed.  From all sectors of the economy, businesses are turning to greener practices without the government’s prod. Dell, the 2nd largest computer manufacturer in the world, recently adopted a fistful of eco-friendly measures. Box store giant Wal-Mart sponsored a sustainable design contest, and even mutual funds have turned their eye toward increased environmental responsibility.

But perhaps the most impressive measures have been taking by world banking leader HSBC, which has invested in a five-year, $100-million-dollar program to educate employees on how the economics of the environment affects their bottom line.  Twelve-person teams of HSBC employees are sent out into the woods to assist Smithsonian Institute researchers in carrying out a study of the forests.

As one participant put it, “We have an expression in banking: one nickel a million times over is a lot of money.  Now my new saying is, ‘One ream of paper a million times over is a lot of trees.’” This level of hands-on education may not only lead HSBC to become one of the most environmentally-aware companies in the world, but may also encourage its employees to bring that consciousness into their lives outside the office.

So what say you, gentle readers of the Internet? Will the next global summit on climate change lead the way in establishing worldwide sustainability? Or will nimbler, market-driven private industry prove the trailblazer in establishing a greener future?

 

Photo by Eric Schmuttenmaer