- Bishop Hill blog

This is a guest post by Cameron Rose.

Just thought I'd share my brief diary from the Business and Climate conference at the UNESCO building in Paris on 20th/21st May 2015. It is in the lead up to COP21 in December and I'm a delegate this week.

Arrived late and missed the opening warm-up from Christine Figueres, the Executive Secretary of the UNFCCC. The businessman in the next seat told me there had been nothing new from her.

Wed 20th PM. I was in time to catch the second half of the 'Energy' thematic session, where there were six CEO-level panelists plus the Norwegian Minister of European Economic affairs. I learned the following (perhaps a True/False quiz would be appropriate):

'Onshore wind is now competitive with coal fired power stations.'
'The biggest global challenge is Climate Change but the second biggest challenge is Development - and energy is critical to both these.' That's at least half true!
'Fossil fuels are going to be with us for a long time.' That was from the Norwegian minister in pragmatic mode - but he also said:
'CCS is crucial if we are going to reach the target of 2 degrees' and,
'Natural gas is Renewables' best friend'.
'The best thing policy can do is put a price on carbon and remove fossil fuel subsidies.' More on subsidies later.
'Buildings occupy 150bn metres squared of the planet' I must check the maths of that one when I'm bored. But one can imagine where that was going - designing eco buildings.
'Solar is being looked upon from a Climate Change perspective. But it is independently competitive' I am sure that is true in some places but I'll stick that one to the wall meantime. The quote was from an Indian CEO (name not on the programme) but clearly the situation in India is worth watching, especially since Prime Minister Modi has begin to ruffle things up.

Then the second Plenary Session: 'Mapping the Trajectory' with a further six CEO-level panel members plus the Mexican Minister of the Environment, all compered by CNN anchor Nina dos Santos. I learned:

There are now 'Save the World' products from Ben and Jerry's'. The Unilever CEO was keen we should know that!
'Total's gas production last year was equivalent to it's oil production.' The Total CEO was keen to point out that his company is the second largest solar producer in the world.
'Our country is responsible for 1.4% of global emissions but we, ourselves are vulnerable. Last year we were hit by two hurricanes and this year it looks like it will be worse.' plus a load more weather attributed shamelessly and directly to human emissions. Yes, it was the Mexican Environment Minister. He was, shall we say, a little imprecise.
'The fact is Climate Change is here.' Well, at least I can agree with that. Best without the capital C's though.
'If we were to shut down our coal plants we would go bankrupt. It is a question of evolution, not revolution.' That from the CEO of RWE, a major electricity generator in Germany. He was curiously quiet about their dash for coal to replace nuclear.
'Poverty is not going down in the world. It is going up'. There's one for Matt Ridley to take apart. Can't recall which CEO said that. The inaccuracies are coming thick and fast. I can't keep up.

Then as a wash up we had Angel Gurria. The programme describes him as the Secretary General, OECD. Charismatic, dramatic and just the person to whip up some enthusiasm. He summed up what had been said well and picked on his Big Idea for what action is needed to whip this Climate Change problem into shape: 'A Big Fat Price on Carbon'. I knew it was his big idea because he repeated that phrase 3 more - no, maybe 30 more times. But there was also some comment on the IMF report that we spend $5.3 trillion dollars in subsidies for fossil fuels. I'm not sure he was quite accepting that as a meaningful contribution to the debate.

Then the closing session (for the day) from Segolene Royale, France's Minister for the Environment. Up to this point everything had been in English. But sure enough, being the UNESCO HQ in Paris, there as a translation to be listened to with the headphones. But I don't think she said anything exciting - unless more about saving island nations is exciting. And she is a 'True Believer'.

On to an informal dinner along with our ESG advisor and some of his other clients. I'm afraid I almost blotted my copy book by revealing that I think the science underpinning all this is a bit uncertain. One of the guests took quite strong exception to this and I had to advise him that all his arguments were arguments from authority not arguments from evidence. But I was a guest so I'll maybe drop him an email just to try and reassure him I am really relatively normal otherwise.

Wonder if I'll get a chance to ask a question tomorrow. Martyrdom awaits the brave.