In concert with the opening of the COP15 climate talks here in Copenhagen, the EPA finalized their endangerment finding on Monday that specifies carbon emissions as a threat to human health and well being (see Bill DiBenedetto’s detailed post from yesterday).
At yesterday’s press briefing UNFCCC Executive Secretary Yvo de Boer was asked what influence the decision would have on the outcome of the conference:
“If I were a businessman,” de Boer replied, “I would say please, please, please do a deal in Copenhagen – and please, please, make it market-based. Because if we fail to get a market-based agreement here, and if the US Senate fails to agree cap-and-trade, then the regulatory agency will be obliged to regulate. Every business knows that taxes and regulation will be a lot less efficient and a lot more expensive than a market-based approach.”