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Allianz and WWF call on budding CEOs to test climate business strategies online

Sydney, 1 June 2010

While some governments and a lot of companies are losing precious time in climate protection, everyone can get a better idea of how business decisions impact climate change by playing the online game, CEO2, which has been launched by Allianz and WWF (World Wide Fund For Nature). Players can slip into the role of a CEO and test which business strategies work out to reduce carbon, reduce risks and increase the long-term profitability.

According to Nicholas Scofield, General Manager Corporate Affairs at Allianz Australia, “the aim of the game is to identify which investments at what time will set the course for profitable growth in the low carbon economy of the future. CEO2 shows the possible impacts of business decisions in the chemical, automobile, utility and finance industry over the next 20 years. The success of the player is measured according to the development of the stock price and the change in carbon emissions.”

Ahead of the UN-climate negotiations, some businesses are hesitant when it comes to climate change. Although research shows that many countries could profit from climate protection if they put in place a framework for middle- and longterm reductions in greenhouse gas emissions.

“After 2020, the window for ambitious global CO2 reductions by 2050 will close rapidly. Significant reductions are necessary to limit temperature rise to below two degrees Celsius compared to pre-industrial levels and avoid the adverse consequences of climate change.

“A cost-optimal mitigation strategy for the transformation of the energy sector alone requires an increase in investment in low-emission technologies to an annual level of 400 to 1,000 billion US dollars by 2030, most of which would have to be provided by financial markets and industry,” Mr Scofield said.

CEO2 has been developed by Allianz and WWF to show long-term influence of investment cycles and the impact of business strategies and decisions in a playful way so that a broad public audience can better understand the interaction between economic activity and greenhouse gas emissions. The game is available at www.ceo2-game.com for free.