The issue of climate change has risen from a marginal to a key business issue. On February 2nd 2007, the Intergovernmental Panel on Climate Change (IPCC) published its Fourth Assessment Report (AR4), that projected without further action to reduce greenhouse gas emissions, the global average surface temperature is likely to rise by a further 1.8-4.0°C this century. Even the lower end of this range would take the temperature increase above 2°C, the threshold beyond which irreversible and possibly catastrophic changes become far more likely.
Projected global warming this century is likely to trigger serious consequences, including a rise in sea levels of between 18 and 59 cm which will endanger coastal areas, lead to extensive coral bleaching, destroy critical fish nurseries and small islands, and a greater frequency and severity of extreme weather events. 2005 was the warmest year on record, surpassing 1998. The earth's average temperature has risen nearly 1 degree Fahrenheit over the past 30 years.
Human activities that contribute to climate change include the burning of fossil fuels (coal, gas and oil), agriculture and land-use changes like deforestation. These cause emissions of carbon dioxide (CO2), the main gas responsible for climate change, as well as of other 'greenhouse' gases. To bring climate change to a halt, global greenhouse gas emissions must be reduced significantly.
In the following sections, you can find out more on the global and BEC's response to climate change:
To take proactive action to tackle climate change or reduce greenhouse gas emissions, you may contact Ms Gabriela Otterli, Head - Corporate Sustainability (T.+852.2784-3914). To understand more about business risks, opportunities and best practices, visit the CCBF website or contact Ms Georgina Macdonald (T.+852.2784-3956) and Ms Bonnie Ho (T.+852.2784-3951).