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Emerging Markets More Optimistic on Tackling Climate, HSBC Says
2010-10-27 07:01:56.204 GMT
By Ben Sharples
Oct. 27 (Bloomberg) -- People in China, India and other
emerging economies in Asia are more optimistic than developed
nations that climate change can be halted, an international
survey by HSBC Holdings Plc shows.
Thirty-three percent of respondents from Vietnam, 32
percent from India and 29 percent from China believe that
climate change can be stopped, according to the 'HSBC Climate
Confidence Monitor,' which surveyed 15,000 people across 15
markets. This compares with 9 percent in the U.S. and 8 percent
in Australia, the bank said in an e-mailed statement today.
Abatement initiatives funded by governments are seen as the
most effective policies to tackle climate change, when compared
with a carbon tax or emissions trading, the survey shows. It
covered France, Germany, Hong Kong, Canada, Singapore, the U.K.,
Australia, Brazil, Mexico, China, the U.S., Japan, Malaysia,
India and Vietnam.
Australia in April shelved climate change laws until after
2012 amid lawmaker opposition and a lack of action by other
countries. Prime Minister Julia Gillard has established a
multiparty committee to study options for introducing a price on
carbon, including a market-based emissions-trading system, a tax
or a "hybrid" of both.
"The climate business sector is growing fast and emerging
markets are leading the way," said Paul Maia, Sydney-based
chief executive officer of HSBC Bank Australia. "Australia also
has a role to play."
One in 10 Australians is confident their leaders are
addressing climate change, compared with a global average of 19
percent, the survey shows. Twenty-seven percent of Australians
surveyed said they are making a personal effort to reduce
climate change, down from 29 percent a year ago, and compared
with 64 percent of Chinese respondents.
For Related News and Information:
Top stories: TOP AU <GO>
Top energy stories: ETOP <GO>
Top environment stories: GREEN <GO>
--Editors: John Viljoen, John Chacko.
To contact the reporter on this story:
Ben Sharples in Melbourne at +61-3-9228-8732 or
bsharples@bloomberg.net.
To contact the editor responsible for this story:
Clyde Russell at +65-6311-2423 or
crussell7@bloomberg.net.
