CARBON FINANCE095created a backdrop to an Olympic Games that was both breathtaking and highly effective. Thissuccessful relationship has set a precedent for future Olympic Games and large-scale events to follow. Cities within the Province continue to build on theirlegacy of sustainable urban design, creating themost liveable urban areas in the world throughpolicies that encourage density, building retrofitsand the development of infrastructure for greenvehicles. Perhaps the most comprehensivereinvention of a city is on the campus of theUniversity of British Columbia. Functioning like a city with 60,000 inhabitants, theuniversity's leadership has committed to turn thecampus into a living laboratory for clean technologyinnovation, with a target of 33 per cent reduction ingreenhouse gas (GHG) emissions by 2015 and 60per cent by 2020. By turning the campusinfrastructure into a laboratory where emergingcompanies can develop and test technologies,including a biogasification system developed withNexterra and GE, and through the construction ofThe Centre for Interactive Research on Sustainability(the greenest building in North America), the visionis to create a vibrant cluster of commercialinnovators and world-class researchers. Climate change will not be solved through a weakand non-binding consensus among 200 nations. Itwill be solved through the vigour, energy and resolveof thousands of smaller jurisdictions around theglobe that choose to master their own destinies.nABOUT THE AUTHORDr James Tansey is the CEO and founder ofOffsetters. He is also an associate professor at theUniversity of British Columbia's Sauder School ofBusiness where he is Executive Director of ISIS, asocial innovation incubator. He was previously alecturer in Science and Technology Studies with theSaid Business School in Oxford, where he was alsoDeputy Director of the James Martin Institute forScience and Civilisation. He has taught in MBA,EMBA, Executive Education, MSc andUndergraduate programmes in the UK and Canada.Following the Vancouver 2010 Olympic WinterGames, Dr Tansey was selected as one of fourinternational advisers working with the UnitedNations Environment Programme on theenvironmental strategy for the 2014 OlympicWinter Games in Sochi, Russia. Dr Tansey hasworked as an advisor and contributor to the WorldEconomic Forum, the UK National Audit Office,Oxford Analytica, Cisco, ISIS Innovation (Oxford),Carbon War Room, Environment Canada and theCanadian Environmental Assessment Agency.

n what represents a major achievement inthe fight against global warming andclimate change, the first ever mandatoryglobal greenhouse gas (GHG) reductionregime for an international industry sector has beenadopted, this year, by the International MaritimeOrganization. Mandatory measures to reduce emissions of GHGsfrom international shipping were adopted by Parties toAnnex VI of the MARPOL Convention, during the 62ndsession of IMO's Marine Environment ProtectionCommittee (MEPC) in July 2011. The MARPOL Convention is the primary internationalinstrument regulating international shipping from anenvironmental perspective. These new regulationsapply to all ships of 400 gross tonnage and above andare expected to enter into force on 1 January 2013.Itis estimated that they could help ship operators saveIMOACHIEVESGHG EMISSIONS BREAKTHROUGH096LOGISTICSEFTHIMIOS E. MITROPOULOS, SECRETARY-GENERAL, THE INTERNATIONALMARITIME ORGANIZATION (IMO)IPhoto: Copyright IMO