Within the Framework Convention on Climate Change, Canada has made a commitment to take action towards stabilizing our country's greenhouse gas emissions. Canada's commitment was made in the context of an overall approach to greenhouse gas management that includes all of the greenhouse gases and all of their sources and sinks. The Framework Convention includes the principle of joint implementation, for which Canada was an important advocate. Joint implementation enables nations to meet their individual climate change commitments by acting together. It enables businesses in Canada to further improve their environmental performance by responding to the demands for development projects that contribute to environmental and economic needs in the South and at the same time result in reduced net contributions to greenhouse gases in the atmosphere.
Joint implementation offers businesses in Canada an unprecedented opportunity for global action.
For the first time in history, we have a situation in which the imperatives of development in the South are matched by environmental concern in the North. The result is a new and massive opportunity for trade, development and technology co-operation. But it requires far-reaching shifts in corporate attitudes and new ways of doing business. To move from vision to reality demands strong leadership from the top, sustained commitment throughout the organization, and an ability to translate challenge into opportunities. Firms must draw up clear plans of action and monitor progress closely.