Climate Change Conference hosted by the University of Edinburgh in Hong Kong June 10, 2010

Conference title: High Growth – Low Carbon Leadership

The International Energy Agency estimates that additional cumulative investment of over US$2 trillion is required globally by 2020, and over US$10 trillion by 2030, to avoid dangerous levels of climate change1. In China alone, the figures are for an additional US$400 billion by 2020 and US$1.7 trillion by 2030.

Yet, in the aftermath of the global financial crisis, many developed countries are struggling under huge debt burdens and sluggish economic prospects. China, on the other hand, has enjoyed continuous economic growth in excess of 9% for the past two decades, and appears to have weathered the financial crisis well, with the engine of high growth continuing to bring millions of people from poverty to prosperity every year. However, is continued high growth compatible with achieving a low carbon economy?

The financial challenge of delivering the twin outcomes of continued economic development and a low carbon future is immense. Countries which succeed in this will also reap the rewards. China has announced that it will reduce the carbon intensity of its GDP by 40-45% by 2020, and is backing this with action, such as investing around a third of its fiscal stimulus of US$650 billion, or 3% of GDP, on green initiatives, compared with an average of only 0.7% of GDP for the G20.2 Further measures are expected in the 12th 5-year plan for 2011-2015.

The opportunities for those countries offering leadership in this area are immense. But to take this leadership requires not just government investments but the opening up of private capital investment opportunities. This conference will consider the role of carbon markets and carbon finance in developing these opportunities and the practicalities of investing in the key technology of carbon capture and storage.

The conference is free of charge but delegates should book online at

http://tinyurl.com/34gfafh

For further information on other events being hosted by the University of Edinburgh in Hong Kong, please go to:

www.tinyurl.com/HongKongJune2010