Industry, investors call for clear climate policy

Major companies and investors appealed for "decisive action" by representatives of 187 countries attending the UN climate talks in Poland.

Climate negotiators are gathered for December 1-12 talks in the western city of Poznan, at a meeting meant to push for a agreement on a new climate treaty by next December in Copenhagen to replace or extend the Kyoto Protocol after 2012.

"At the Poznan meeting, we urge countries to agree on a plan of action for the final year of negotiations," read a text from the business leaders of over 140 global companies, drafted by the UK-based Corporate Leaders' Group on Climate Change (CLG).

Those companies included Ebay, Sun Microsystems Inc., BP, and Unilever. Climate policies such as carbon trading or carbon taxes affect companies' fuel bills and long term investment choices between different energy sources.

Some delegates, negotiators and analysts attending the UN talks in Poznan have suggested that the financial crisis coupled with a change in US administration will require a scaling back in ambition for Copenhagen, such as agreement on a set of principles rather than a treaty.

That could make it more difficult to agree new emissions reduction targets in time before current goals under the Kyoto Protocol expire in 2012.