Global Agency required
Lorde Browne, former CEO of BP addressed the British Association for the Advancement of Science meeting to announce the need for an ‘international climate agency’ to co-ordinate action against climate change, according to the Financial Times:
Its responsibilities would include setting a long-term goal for stabilising carbon dioxide in the atmosphere; setting carbon emission targets and allowances; monitoring and verification; and providing incentives for developing countries to invest in clean energy.
“This is an ambitious proposal,” said Lord Browne, who has just become managing partner of Riverstone Holdings, a US private equity firm. “It would require stretching international legal norms to the limit of understanding and practice. And it would require governments to refind [a] sense of global collective endeavour.”