More focus on climate change

The SCMP newspaper (unlinkable article) reports a survey that found

…..two-thirds of Hong Kong’s respondents thought the government should place a higher priority on climate change, while 30 per cent thought the current priority was appropriate

Now I haven’t seen sight of this survey, but it is an interesting idea. People in general tend to think that climate change is large problem, so overwhelming that it is only a governmental issue rather than business or personal issue. Yes, I do agree that government has a role to play but I feel it is far more important that you stack the cards in their favour first. Governments are inherently slow to act, business can act  today, gain a leadership position before regulation is imposed.

I think Wal-Mart a US company has the right idea, its ahead of the curve. Voluntarily, without any fancy regulation, its products will have a carbon footprint, the cost has been estimated in the region of US$250million, and other retailers will be left to follow the leader.

In certain instances government needs to balance the mismatched market, the much vaunted Polluter Pays principal is fine if it is actually implemented. Presently it is not, externalities, for example the social cost for health, and well fare are not costed in the market, and only regulation can readdress that issue. As this survey indicates like it or not the people want more government action.

– John Herbert, Consultant, Kelcroft E&M Limited
helping lower the cost and impact of doing business in Asia