04 February 2010 17:08 [Source: ICIS news]
LONDON (ICIS news)--Incorporating the cost of carbon and water into current market mechanisms, halving carbon emissions and halting deforestation are among the “must haves” needed to maintain a sustainable global society, the CEO-backed World Business Council for Sustainable Development (WBCSD) said on Thursday.
“Just 40 years from now, some 30% more people will be living on this planet,” the WBCSD says in a 'Vision 2050' report. “New rules for markets will reframe environmental challenges as economic challenges, driving innovation and competition in the direction of sustainability and away from resource- and energy-intensive production,” it says in the document, 18 months in the making.
Rationalising prices to include the impacts of climate change and biodiversity will make corporate environmental efficiency “a true competitive advantage across all industries and regions”.
It says a four- to tenfold improvement in the use of resources and materials is required to help deliver sustainable development.
The WBCSD describes itself as “a CEO-led, global association of some 200 companies dealing exclusively with business and sustainable development”.
Its member companies include BASF, Bayer, Dow, DuPont, Mitsubishi Chemical, Sumitomo Chemical, Reliance Industries and other chemicals sector players, as well as leading oil/petrochemical companies Shell, BP and Sinopec.
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