Under Strict Embargo: 13:00 EST, Monday 20 September 2010 PRESS RELEASE Government, Business and Non-Profit Leaders Convene at Climate Week NYC 2010 to Urge Action to Finance a Clean Industrial Revolution The Climate Group, United Nations, City of New York and Partners Lead Week-Long Events and Discussions on a Financing Roadmap for Clean Technologies New York, NY (September 20, 2010) – International NGO, The Climate Group, and its partners, including the United Nations, the City of New York, and founding sponsor Swiss Re, today kicked off Climate Week NYC. From September 20-26, Climate Week NYC will bring together the world’s most influential government and business leaders to discuss the policies and public-private partnerships necessary to unlock the financing needed to ignite a clean industrial revolution. A cast of international government, business and non-profit leaders, including: Christiana Figueres, Executive Secretary, UNFCCC; HSH Prince Albert II of Monaco; George Soros, Chairman, Soros Fund Management LLC; and Alan Salzman, CEO and Managing Partner, VantagePoint Venture Partners will headline discussions on how best to capitalize on the progress made by cities, states, regions and corporations around the world since Climate Week NYC last year. Topics will include risk transfer and adaptation in developing economies, the launch of the EV20 alliance – a group focused on speeding the deployment of electric vehicles – and policies to stimulate the growth of emerging clean technologies. "Climate Week NYC exists to focus the attention of world leaders on climate change and show innovative solutions that reduce emissions and create jobs," said New York City Mayor Michael R. Bloomberg. "While New Yorkers' carbon emissions per capita are already among the lowest among big cities, we know that our efforts to reduce carbon emissions begin in our neighborhoods, through coating cool roofs and planting hundreds of thousands of trees. Only through efforts like those we will achieve our PlaNYC goals to lower citywide emissions 30 percent by 2030 and create a greener, greater New York." “Climate Week NYC 2010 provides an essential global platform to discuss the fundamental changes needed in the way we produce and consume energy,” said Steve Howard, CEO of The Climate Group. “Cutting greenhouse gas emissions in half by 2050 will require investment of US$45 trillion. Financing of this magnitude will require the biggest public-private partnership of all time but will unlock a clean industrial revolution that will be good for the economy, good for jobs and good for the environment.” Arnold Schwarzenegger, Governor of California, emphasized that it was important for government to lead this dialogue with business on clean energy partnerships, “Government and business everywhere need to work together in public-private partnerships to cut emissions and be on the forefront of clean energy and clean air. Much like we in California did by passing the Global Warming Solutions Act of 2006 (AB 32), those taking part in Climate Week NYC are also taking this vital step to help unlock the critical finances, technologies and policies we need to secure new jobs and future economic growth.” The backdrop for Climate Week NYC is once again the annual UN General Assembly, where the focus will be on progress made towards the Millennium Development Goals (MDG). Not surprisingly, addressing climate change underscores several of the most important MDG goals including global partnership, ending poverty, environmental sustainability and clean energy access for all. This year’s Climate Week NYC activities, anchored by a series of high-level meetings, panel discussions and cultural events, will establish a context for discussions at the 2010 UN Climate Change Conference (COP16) in Cancun, Mexico later this year. Under Strict Embargo: 13:00 EST, Monday 20 September 2010 PRESS RELEASE Christiana Figueres, Executive Secretary, UNFCCC said, “It is my firm belief that any solution to climate change will be moot without the strong involvement of business, which ultimately creates the opportunities, the growth and jobs in all national economies. What we are looking at amounts to a new industrial revolution. The faster governments release the potential of business to deliver that change, the faster their economies will benefit from new growth and reach a low-emissions future, and the faster they will be able to climate-proof their societies. Companies that have gone green have created an early-comer advantage for themselves in the global marketplace. This trend needs to grow and establish itself as a global norm.” Dr Han Seung-soo, Former Prime Minister and Chairman, Board of Directors, Global Green Growth Institute, Republic of Korea, said, “There is no choice but for the global society to adapt to the effects of climate change. We must unlock our potential to promote technological innovations and behavioral changes aimed at delivering low-carbon future. Some remarkable changes are already taking place all over the world. While there is no silver bullet to dealing with climate challenge, I am heartened to see a broad coalition from all sectors of society striving to achieve green growth within their own respective realms.” Sustaining carbon neutral economic growth will require new partnership models, strategic alliances and investment in emerging technologies such as electric vehicles, smart grids, clean energy and carbon capture and storage. As the battle for the future of clean energy plays out in policy arenas around the world, the establishment of the appropriate framework and conditions for rapid development and strategic distribution of sustainable solutions will become more critical. Launching the EV20 initiative, one such alliance of businesses, states and financial institutions dedicated to scaling up a global market for plug-in electric vehicles, HSH Prince Albert II of Monaco said, “The rapid growth of an e-car market will cut city pollution and global greenhouse gas emissions helping to conserve our climate and our energy resources. The development of EV fleets could also help to shift the way we use and store energy.” The goal of Climate Week NYC 2010 and The Climate Group is to serve as a catalyst for helping government and business set the world economy on the path to a low-carbon, prosperous future by exploring how progressive policy and finance mechanisms can generate sustainable low carbon development, boost energy security, create jobs and secure clean energy access for all. Other speakers and partners said: Jean Charest, Québec Premier, said, “Federated states and regional governments are at the forefront of the clean energy revolution. They create the right conditions for innovation, whether it’s in the development of renewable energy or of new technologies that improve our economic efficiency and the quality of our natural environment. Québec is strongly committed to this clean energy revolution: it aggressively supports the development of its environment and clean tech sectors and is one of the world’s leading producers of hydroelectricity. My participation in the Opening Ceremony of Climate Week NYC reaffirms Québec’s as well as other federated states and regional governments shared commitment to playing a leadership role on climate issues for the years to come.” "A global deal on climate change is essential, but developing countries are not waiting," said Andrew Steer, Climate Change Envoy for the World Bank. "Four out of five of our client countries are now prioritizing Under Strict Embargo: 13:00 EST, Monday 20 September 2010 PRESS RELEASE climate change in their World Bank country assistance strategies, a tripling of demand in the past five years despite the worst economic downturn in decades," he said. Matthias Weber, Group Management Board member, Swiss Re, noted that, “Swiss Re is proud to be the founding sponsor of Climate Week NYC and a long standing supporter of The Climate Group, which is bringing together an important and influential group of government, business and civil society leaders. Through this initiative, we aim to demonstrate the crucial role which insurance can play as part of a climate adaptation strategy to help manage climate risk and provide an effective way to pre-finance disaster recovery." Alan Salzman, CEO and Managing Partner, VantagePoint Venture Partners added, “We are pleased to be contributing to Climate Week NYC and to add a perspective on how game-changing clean technologies and public/private financing will bring about needed industry transformations, secure economic growth and reduce global carbon emissions.” As Dale Seymour, Vice President, Strategy, Global CCS Institute, pointed out, “The Global CCS Institute is a proud supporter of Climate Week, which this year is looking at the critical question of how global markets for low carbon technologies – such as CCS – can be unleashed. If we are to achieve the kinds of global emissions reductions that are necessary for a sustainable future, we must ensure that technologies like CCS play the important role that they can in responding to the world’s low carbon energy needs.” Paul Dickinson, CEO, Carbon Disclosure Project said, “Climate Change is not only one of the biggest challenges mankind is facing today, it is also one of the biggest opportunities for business globally. The provision of low carbon technologies and solutions has the potential to transform the way businesses use energy, communicate and operate and the opportunities associated are huge.” Kelly Rigg, Executive Director, TckTckTck Campaign, said, “It’s incredibly easy to feel despondent about climate change because all we hear is the bad news. But people and businesses all over the world are rolling up their sleeves and taking steps to reduce their emissions. As we do our part, governments must do theirs by demonstrating the political will to achieve breakthroughs in the climate negotiations.” Tracy Wolstencroft, Global Head of Environmental Markets at Goldman Sachs, said, “We are pleased to be a part of Climate Week NYC. The transition to a low-carbon economy offers enormous opportunity for developing clean energy solutions while also creating jobs and driving economic growth. The clean energy market has the potential to become one of the largest emerging markets in the world and is critical to securing a more sustainable future.” Irene Dorner, CEO, HSBC Bank USA, N.A., said, “HSBC and The Climate Group share a common objective - raising awareness of the urgent threat of climate change, and inspiring action among individuals, governments and businesses around the world. Climate change will impact everyone in ways we cannot predict, and HSBC has a responsibility to engage with our customers, employees, shareholders and the communities we serve to help make a difference for our planet.” Boudewijn Poelmann, Chairman and Co-founder of the Dutch Postcode Lottery, said, “The Dutch Postcode Lottery is pleased to be a supporter of The Climate Group and Climate Week NYC. By raising funds Under Strict Embargo: 13:00 EST, Monday 20 September 2010 PRESS RELEASE for NGO’s through organising lotteries, actions required can be taken to move towards a cleaner and fairer world for future generations.” Jeff Swartz, CEO, Timberland said, “In hopes of sharing strength, resources and ideas amongst the world’s leading businesses and governments who have chosen to tackle climate change, Timberland, as a member of The Climate Group, is happy to support Climate Week NYC. I look forward to seeing what the best and the brightest in business are doing to finance and deploy impactful climate solutions.” Greg Barker MP, UK Climate Change Minister, said, “I’m supporting Climate Week NYC by urging all countries to make the transition to a low carbon economy. Not only will this cut global emissions and increase energy security but will unlock financial and business opportunities across the world. The real key to making this happen, in particular in developing countries, is to get finance flowing so that green investment is at the heart of growth. New York City will this week become the focus for discussions which can help in progressing a meaningful global deal on tackling climate change.” Karin Ezbiansky Pavese, PhD, Vice President, Innovation and Sustainability at the New York Academy of Sciences said, “The New York Academy of Sciences values its role as a convener of leading scientists, policy makers and industry; it is currently actively exploring how New York State can leverage its clean technology assets within the paradigm of a low carbon economy. The goal of Climate Week to bring global actors together for solutions-oriented dialogue about climate change is congruent with our mission. We are enthusiastic about our involvement and look forward to witnessing the outcomes.” ENDS Notes to Editors: Media Contact: Megan Cailoa | Edelman | +1 (646) 488 3845 | [email protected] Lauren Bird | The Climate Group | +44 (0)7792 656 093 | [email protected] About Climate Week NYC (www.climateweeknyc.org): In 2009, The Climate Group launched Climate Week NYC, an annual global forum to mobilize an international public-private response to climate change. This year, Climate Week NYC represents a series of high-profile events in New York City exploring how greater dialogue between governments and business on low-carbon policies, game-changing technologies and public and private finance can help: • halve global emissions by 2050 • increase energy security • unlock a clean industrial revolution that will secure jobs and economic growth around the world • secure clean energy access for all This year’s partners and sponsors include the United Nations Foundation, Swiss Re, HSBC, Global CCS Institute, the Dutch Postcode Lottery, TckTckTck, The Carbon Disclosure Project, Timberland and Edelman. About The Climate Group (www.theclimategroup.org): The Climate Group is an independent, not-for-profit organization working internationally with government and business leaders to advance smart policies and technologies to cut global emissions and accelerate a clean industrial revolution. Its global coalition of companies, states, regions and cities around the world recognize the economic and environmental imperatives of taking decisive action now. The Climate Group was founded in 2004 and has operations in Australia, China, Europe, India and North America. This unique global network ensures that The Climate Group’s messages are being heard by leaders who can effect change. It is helping to set the targets, create the policies, unlock the finance, and showcase the best practice to build confidence and generate the political willpower needed to put the world on a low carbon pathway. About The UN Foundation (http://www.unfoundation.org) : The UN Foundation – a public charity – was created in 1998 with entrepreneur and philanthropist Ted Turner’s historic $1 billion gift to support UN causes and activities. The Foundation serves as an advocate for the UN and a platform for connecting people, ideas, and Under Strict Embargo: 13:00 EST, Monday 20 September 2010 PRESS RELEASE capital to help the UN solve global problems. We build partnerships, grow constituencies, mobilize resources and advocate policy changes to support the UN’s work for individual and global progress. The UN Foundation’s work – focused on select global problems – is reducing child mortality, improving disaster relief, protecting diverse cultures and environments, creating a clean energy future, empowering women and girls, and improving U.S.-UN relations. About PlaNYC (http://www.nyc.gov/html/planyc2030): In 2007, Mayor Michael R. Bloomberg released PlaNYC, a comprehensive plan to create a greener, greater NYC. PlaNYC puts forth a strategy to reduce the City’s total greenhouse gas emissions 30% by 2030, while also accommodating a population growth of nearly one million, and improving our infrastructure and environment. Recognizing the importance to reduce global carbon emissions, and the value of leading by example, New York has set the goal of reducing its municipal government’s carbon emissions 17% by 2030. About Swiss Re (http://www.swissre.com/ ): Swiss Re, one of the world’s leading reinsurers, has been involved in the climate debate for over 20 years and participated in projects ranging from research and awareness building to product development and managing its own carbon footprint. The company has been greenhouse neutral since 2003. Today, Swiss Re is focused on contributing to help society adapt to climate change and supports a preemptive risk management approach. Recent initiatives include developing risk transfer instruments to protect populations that are most vulnerable to the effects of climate change – including farmers in India, Kenya, Ethiopia and Mali. About UNFCCC: With 194 Parties, the United Nations Framework Convention on Climate Change(UNFCCC) has near universal membership and is the parent treaty of the 1997 Kyoto Protocol. The Kyoto Protocol has been ratified by 190 of the UNFCCC Parties. Under the Protocol, 37 States, consisting of highly industrialized countries and countries undergoing the process of transition to a market economy, have legally binding emission limitation and reduction commitments. The ultimate objective of both treaties is to stabilize greenhouse gas concentrations in the atmosphere at a level that will prevent dangerous human interference with the climate system. About Prince Albert II of Monaco Foundation (www.fpa2.com): The Foundation was created by H.S.H. the Sovereign Prince of Monaco in June 2006 and is dedicated to the protection of the environment and the promotion of sustainable development on a global scale. The Foundation’s efforts focus on three main areas: Climate Change and renewable energies, Biodiversity, Water and desertification. The Foundation gives its support to projects in three main geographical zones: the Mediterranean Basin, the Polar Regions, and the least developed countries. The Prince Albert II of Monaco Foundation supports initiatives by public and private organizations and companies, in the fields of research and studies, technological innovation and socially aware practices. The Foundation is committed to raising the awareness of the population and States by implementing communication action plans capable of generating the maximum mobilization. In order to stimulate and develop innovation, the Foundation supports scientific and technical monitoring at an international level. About the World Bank (http://www.worldbank.org): Addressing climate change is central to the World Bank Group’s mandate of helping countries reduce poverty and move towards economic prosperity. Working with more than 100 developing countries and emerging economist, the Bank Group actively assists them in mobilizing and accessing finance, deploying new technology, and developing policy, knowledge and capacity. About VantagePoint Venture Partners (www.vpvp.com): VantagePoint Venture Partners is a global leader in funding the transformative CleanTech companies of the 21st century. With a best-inclass investment team of business and scientific experts, a broad network of corporate Strategic Partners, accomplished Senior Advisors, and more than $4.5 billion in committed capital, the Firm has the resources and talent to build important, industry-leading companies. Headquartered in Silicon Valley with offices in Hong Kong and Beijing, VantagePoint has investments in over 70 companies, including CleanTech leaders Better Place, Bridgelux, BrightSource Energy, MiaSolé, Ostara Nutrient Recovery Technologies, Serious Materials, Solazyme, Tesla Motors, Trilliant and Tendril. About Global Green Growth Institute: The Global Green Growth Institute (GGGI) is a new, international non-profit institution dedicated to supporting a new model of economic growth, known as ‘green growth’, which integrates objectives for poverty reduction, economic and social development, environmental sustainability and energy security. GGGI is founded on the belief that growth and environmental sustainability are not merely compatible objectives, but are mutually necessary for the future of humankind. GGGI supports emerging and developing nations in their efforts to create and implement national and local strategies and policies for pursuing green growth. GGGI will ensure that climate compatible growth goes hand in hand with successful economic growth for all countries to which it provides services according to their respective economic circumstances and constraints. Under Strict Embargo: 13:00 EST, Monday 20 September 2010 PRESS RELEASE About Quebec (www.quebec-newyork.org): A leader among federated states and regional governments on the issue of climate change, Québec is an active member of the Climate Group since 2008. It partnered with the Climate Group to set up the first Leaders’ Summit in Montréal in 2005 to emphasize the role played by subnational governments in taking the concrete steps required to fight climate change. Premier Jean Charest will also co-chair the next Leaders’ Summit in Cancun. Québec has set out ambitious post-Kyoto goals, aiming to reduce its GHG emissions by 20% as compared to 1990 levels by 2020. As a member of the Western Climate Initiative, Québec is working actively to develop a North American cap and trade system. Québec is also a leader in the production of clean and renewable energy. About the Global Carbon Capture and Storage Institute: The Global CCS Institute works collaboratively with organizations and governments to accelerate the broad deployment of commercial carbon capture and storage (CCS), ensuring that the technology plays a role in responding to the world’s need for a low carbon energy future. In the demonstration phase for CCS technology, the interim goal for the Institute is to accelerate the development of 20 commercial-scale integrated demonstration projects with the aim of reaching this target set by the G8 prior to 2020. The Institute also plays an important role in implementing various strategies to ensure that CCS technology moves beyond the demonstration phase to broader commercial deployment. About the Carbon Disclosure Project: The Carbon Disclosure Project (CDP) is an independent not-for-profit organization holding the largest database of primary corporate climate change information in the world. Over 2,500 organizations across the world’s major economies now measure and disclose information on their greenhouse gas emissions, water usage and assessment of climate change risk and opportunity through CDP, so that that they can set reduction targets and make performance improvements. This data is gathered on behalf of 534 institutional investors with combined assets under management in excess of $64 trillion, as well as major purchasing corporations and government bodies, and made available for integration into business, investment and policy decision making. Since its formation in 2000, CDP has become the gold standard for carbon disclosure methodology and process, providing essential climate change data to the global market place. About TckTckTck (http://tcktcktck.org/): TckTckTck is an unprecedented global alliance of organizations and social movements representing environment, development, poverty, human rights, faith, labour, health, humanitarian, youth and other concerns. These organizations are united in their call for a fair, ambitious and binding international agreement to address climate change. TckTckTck alliance members include locally based nongovernmental organizations as well as some of the largest civil society groups in the world, including Greenpeace International, Oxfam, WWF, the International Trade Union Confederation and the Pacific Council of Churches. About HSBC (http://www.hsbc.com/1/2/sustainability): As “the world’s local bank,” HSBC aims to embed sustainable business principles at every level of its global organization and everywhere it operates. The first major bank to become carbon neutral, HSBC actively addresses climate change as one of many critical environmental, social and economic challenges the world faces. Together with customers, employees and communities, HSBC seeks to make a difference for our planet. The HSBC Climate Partnership is a groundbreaking, five-year initiative with The Climate Group, Earthwatch Institute, Smithsonian Tropical Research Institute and WWF, to tackle the causes and impacts of climate change, and to inspire action among individuals, businesses and governments worldwide. About Dutch Postcode Lotery (http://www.postcodeloterij.nl/Organisatie/Pers/FactsheetEnglish2010.htm): The Dutch Postcode Lottery (Nationale Postcode Loterij) supports organisations working to create a fairer, greener world by raising funds and increasing public awareness through a lottery. The Dutch Postcode Lottery is Holland’s biggest and most popular charitable lottery. It supports 75 charity organisations, including UNICEF, Greenpeace, WWF, IUCN and The Climate Group. Since its launch in 1989, the lottery has allocated over 2.7 billion euros to its beneficiaries. It also organises events aimed at moving the world toward a better future, such as Blair on Climate Solutions. The Postcode Lottery is currently active in the Netherlands, Sweden and the United Kingdom. About Timberland: Timberland is a global leader in the design, engineering and marketing of premium-quality footwear, apparel and accessories for consumers who value the outdoors and their time in it. Timberland markets products under the Timberland®, Timberland PRO®, Mountain Athletics®, SmartWool®, Timberland Boot Company®, howies® and IPATH® brands, all of which offer quality workmanship and detailing and are built to withstand the elements of nature. Timberland’s dedication to making quality products is matched by the company’s commitment to “doing well and doing good" -- forging powerful partnerships among employees, consumers and service partners to transform the communities in which they live and work.