Why a Strong COP15 Agreement Doesn't Matter... For Cleantech Investment
photo: David Blaikie via flickr.
With all the disappointing news about the UN climate negotiation talk shifting for reaching a legally binding deal in December to one which is merely politically binding, I thought I'd share this rather encouraging piece on analysis from Cleantech Group, which says the outcome of COP15 really doesn't matter much for cleantech investment:Drivers of Cleantech Innovation National Not Global
The reason is really pretty simple (as well as being somewhat intuitive). According to Cleantech Group executive director Dallas Kachan, "The most meaningful climate initiatives of late driving cleantech innovation have been driven at the level of the G20, the US-led MEF, and the G2 (China and America). The center of gravity is not the bureaucratic UNFCCC."
Funding Flows in 2010 With or Without Global Deal
In the end, the report says that private funds will flow into cleantech investments in 2010, regardless of the outcome of COP15, as well as governments funds continuing to flow, at least in the short term.
Rather than accelerating demand for cleantech products itself, whatever agreement comes out of Copenhagen will be seen by history as "another milestone on the road to an agreement"; and will increase global awareness of climate change, which in turn will increase demand.