page 1
page 2
page 3
page 4
page 5
page 6
page 7
page 8
page 9
page 10
page 11
page 12
page 13
page 14
page 15
page 16
page 17
page 18
page 19
page 20
page 21
page 22
page 23
page 24
page 25
page 26
page 27
page 28
page 29
page 30
page 31
page 32
page 33
page 34
page 35
page 36
page 37
page 38
page 39
page 40
page 41
page 42
page 43
page 44
page 45
page 46
page 47
page 48
page 49
page 50
page 51
page 52
page 53
page 54
page 55
page 56
page 57
page 58
page 59
page 60
page 61
page 62
page 63
page 64
page 65
page 66
page 67
page 68
page 69
page 70
page 71
page 72
page 73
page 74
page 75
page 76
page 77
page 78
page 79
page 80
page 81
page 82
page 83
page 84
page 85
page 86
page 87
page 88
page 89
page 90
page 91
page 92
page 93
page 94
page 95
page 96
page 97
page 98
page 99
page 100
page 101
page 102
page 103
page 104
page 105
page 106
page 107
page 108
page 109
page 110
page 111
page 112
page 113
page 114
page 115
page 116
page 117
page 118
page 119
page 120
page 121
page 122
page 123
page 124

EMISSIONS TRADING067computer software. Thanks to these factors, theavailable hedge is highly effective. This year ConsusGroup takes pride and responsibility in co-organising,together with Weather Risk Management Association,WRMA's Annual European Meeting, which will be heldin Krakow on 16-17 September 2010.TO SUM UPAccurate planning in terms of management of theenvironmental protection mechanisms eliminatesexposure to unit price volatility. Even though the futureprice ratio is unknown, the decision about hedgingagainst risk guarantees a price which is acceptable andreasonable. This is a two-way benefit, on one hand ithedges the unit price; on the other it guarantees thesize of the investment financing source.Energy, fuel and allowance prices (currently thoseassociated with EU ETS, but soon Green Certificatestoo) and weather conditions are all strongly correlated.The Consus Group serves as a tool and a solution to help itsClients maximise the opportunities that arise throughthe financial mechanisms adopted to achieve anenvironmental target and reduce the risk of failure. nAbove Left:MaciejWisniewski, Founder andChairman of the Board ofManagement, TheConsus Group

limate change presents each and everyone of us with a huge challenge. But if wecan adopt the technologies and ways oflife that enable us to leave a softerfootprint on our planet, we can begin to transform ourall-important relationship with the Earth and the way itsustains us, says HRH Prince of Wales at the launch ofa sustainability initiative "Start".No one can fail to appreciate the importance of theIndustrial Revolution to Britain and to the entire world.But I trust we do all know that these wonderfulinnovations carried with them a long-term cost thatnobody at the time could possibly have foreseen. Now,alas, that cost is all too obvious, and I rather hope youdo not need me to tell you that we now have to reckonthis cost very firmly into the equation before it is all toolate - if, that is, we want to make sure the future for ourchildren and their grandchildren is as bright andexciting as it was when these great machines were firstunveiled.It is certainly the case that these astonishingachievements in engineering changed the way everyman, woman and child in this country lived. Suddenly,food could be grown and harvested on anunimaginable scale; clothing, and a whole variety ofproducts could be produced by machines with a speedand efficiency that had been simply unthinkable. That, of course, led to people leaving the land and moving to the cities to find work in the factories that were creating the goods and wealth that would, in so many ways, improve people's lives beyond measure. No city was more at the very heart of that revolution than this great city ofManchester and that is why I wanted to come here toannounce a new initiative that I hope might help all ofus prepare for the next great transformation we face...At the end of last year, I was invited to give a speech atthe Copenhagen Climate Change Summit. Heads ofState and Environment Ministers had gathered from allcorners of the Earth to try to hammer out a deal thatwould help us avoid catastrophic climate change.Despite what you might think from having read andheard the reports of the Conference, some progresswas made, not least concerning funding to help stopthe destruction of the world's Rainforests, a subject onwhich I have been working for the last two years.But even with all these countries coming together, it isclear that we are still a long way from agreeing on thechanges necessary to secure a sustainable future - oreven agreeing on the urgency with which thesechanges must be implemented. I have given much thought as to why this might be,especially in the face of such overwhelming scientificevidence. Please be in no doubt that the evidence oflong-term and potentially irreversible changes to ourworld is utterly overwhelming. I have watched withgrowing dismay and alarm the glee with which thesceptics have leapt upon the recent news stories thatquestion the science that climate change is Man-madeand suggesting it is nothing more than a myth.Well, if it is but a myth, and the global scientificcommunity is involved in some sort of conspiracy, whyis it then that around the globe sea levels are more thansix inches higher than they were 100 years ago? This is not an opinion - it is a fact. It is also a fact thatatmospheric carbon dioxide levels are forty per centhigher now than they were before the industrialrevolution. And, clearly, the Government of theMaldives does not believe climate change is a myth,MAKING TECHNOLOGYWORK FORA "SUSTAINABILITY REVOLUTION"068INNOVATION TECHNOLOGYCHRH THE PRINCE OF WALES""IF WE CANADOPT THE TECHNOLOGIESAND WAYS OF LIFETHAT ENABLE US TO LEAVE A SOFTER FOOTPRINT ONOUR PLANET, WECAN BEGIN TOTRANSFORM OURALL-IMPORTANTRELATIONSHIPWITH THE EARTHPhotos: © European Union, 2010?