Copenhagen
Continued From Page 15
development process. The table
would hold one less seat. Second,
there would be an increase in
the compliance commitment
required of the country.
“The idea is that if you don’t
comply you have to add that
deficit to future reductions,”
said Chamberlain.
“There’s not a lot of sympathy
for Canada’s plight around the
world,” he added. “The implica-
tions go beyond bad press.”
Clearly, pressure is mounting
to reduce carbon emissions and
address the issue of global warm-
ing internationally. A week into
the United Nations Copenhagen
summit, which drew legal experts,
climate negotiators and political
leaders from 192 countries, the
world’s leaders — including strong
representation from Canada —
signed a declaration committing
them to pursue action and policies
to reduce climate change.
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Indeed, said Chamberlain,
there will be pressure on Canada
to live up to its promises.
“Canada is going to be forced to
do a few things — it could be a
regulatory regime.”
Such a regime, of course, would
have to look beyond the Kyoto
Protocol. “We have a key relation-
ship with the United States
[which has not signed on to the
protocol] and the regulatory
regimes there,” noted
Chamberlain. “In the end, we’re
going to have to look long and
hard at how we deal with our
international obligations.”
Those obligations will have a
far-reaching impact. “It would be
a mistake to think of the
Copenhagen talks as environmen-
tal talks,” said Tingey. “It’s trade,
it’s energy, it’s transportation.”
“A week into the
United Nations
Copenhagen summit,...
the world’s leaders —
including strong
representation from
Canada — signed a
declaration committing
them to pursue action
and policies to reduce
climate change.
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contact your Account Executive at 1-800-255-5174.
“At the end of 2012, the first
compliance period ends and the
protocol will be amended,” he
added. “It’s not as if the Kyoto
Protocol is going to go away.”
What the next iteration will
look like, however, is difficult to
predict. “It’s hard to read the tea
leaves,” said Chamberlain.
That foresight is further ham-
pered by what the U.S. might do,
he added. “The U.S. is looking at
how it can regulate greenhouse
gases. There is a notion of border
measures — a carbon tariff —
raised in legislative measures.”
There is also opportunity,
noted Tingey. However, he cau-
tioned, the road to realizing
opportunity is circuitous at the
moment, because Canada has not
yet shared its carbon registry with
the world. As a result, clients need
advice with an international lens
— setting up a subsidiary in
another country, for example.
Canada’s reluctance to move
forward on its promises may be
wearing thin. “I would be very
surprised if the major developing
countries are willing to accept significant delays,” said Tingey.
“There is intense pressure on
Canada to act.” ;
