HMA Peter Carter addressed the students of Estonian Business School on September 1.  His speech was part of the welcome address to the incoming students as well as the returning classes.

Rector, Distinguished Guests, Students, Ladies and Gentlemen,

 

May I begin by thanking you, Rector, for your invitation to address the Estonian Business School as it begins its 21^st year. Twenty one has long been the traditional age of majority, reflecting maturity and the readiness to go out and conquer the world. So, as the School marks its 20^th Anniversary, making it the oldest private university in the Baltic States, I am confident that it is well in advance of its years and already has the wisdom it needs to build on its success. And, as far as conquering the world, it’s obvious that the Estonian Business School is well on its way. Its underlying strategy of internationalisation, supported by tuition in English, Estonian and Russian, is clearly the right one in an increasingly globalised and globalising world. The international teaching faculty further promotes a perspective that spreads well beyond the borders of Estonia and the Baltic region. And, aside from the fact that the School’s two main overseas institutional links are with English universities – Lancaster University Management School and Oxford Brookes – these partnerships foster exchanges of ideas, expertise and experience that can only enhance the value of the courses the School offers and the success of its students in their post-university careers.

 

It’s 1 September today and, as the old Estonian saying goes, kõik on uus septembrikuus. Even now I still think of September, with its echoes for me of the new school or university year, as a beginning. And this year truly does hold the prospect of a fresh start for the world we live in. As I hope all of you will know, government leaders from across the planet will gather in Copenhagen from 7-18 December at the United Nations Climate Change Conference. Their aim will be to agree a global climate agreement to come into effect in 2012 covering:

 

·         Targets for reducing greenhouse gas emissions

·         A lead by industrialised countries in reducing CO2 emissions and a contribution to a collective solution from developing countries

·         A global climate regime which does not restrain economic growth and distort competition on the world market

 

What has all this to do with you, you might well ask. High politics and international agreements have little to do with our day to day lives, let alone studies and the Estonian Business School. But you would be wrong. Before you know it you will be earning a living in the world that the Climate Change Conference is aiming to protect. And, even if you do are not aware of it yet, you will have an important role to play. In your future careers you will be leaders and decision-makers in your field; and I am sure that many of you will be looking to the private sector.

 

Among its greatest strengths are innovation and the ability to influence society including for example, consumers and supplier behaviour. These are key contributions that business can make to help achieve global ambitions to limit the effects of climate change. And business will also need to understand climate change as an issue if it is to flourish in a new environment. The British Government has already launched an ambitious programme to transform the UK into a low carbon high growth economy. On the growth side, we expect a good share of a global market in low carbon goods and services estimated to be worth €3.45 trillion. Low carbon business already generates €123 billion in the UK and employs nearly 900,000 people. As for low carbon, UK business users currently account for about 40% of our national greenhouse gas emissions. Reductions in energy use will not only lead to efficiency savings that will benefit business and their customers. They will give impetus to technological innovation that will improve competitiveness. And they will reduce Britain’s overall carbon footprint.

 

But governments would say all this, wouldn’t they? True. However, it is not just governments who are speaking out. The Confederation of British Industry, which represents our largest and most influential private sector employers, has produced its own findings, not as a bunch of eco-warriors but as hard-nosed business people. It has concluded that climate change is everyone’s business, involving the private sector, government and consumers. And that means you and me. Not too far into your working lives, you will be living with the targets for cutting greenhouse gas emissions agreed at Copenhagen, both as consumers and decision-makers in your chosen field. Many of you, no doubt, will be involved in squeezing more and more efficiency out of less and less. That will include energy. And the decisions to which you contribute will reduce your organisations’ carbon footprint. Some of you will be involved in strategic choices about the development of low carbon technologies as sustainable solutions to greater efficiency and better trade. Others of you will, no doubt, become responsible for encouraging consumers to make the right choices in greener products and services, through marketing, advice and advocacy. Above all, though, each one of you will be responsible for contributing to the commercial success of your organisation. Whether that is in sales and marketing, strategic and financial planning, research and development and yes, even human resources, not only will you not be able to ignore the effects and risks presented by climate change; you will have the responsibility to take it into account, for the good of your organisations, the economy in which you work and the global economy on which we all depend.

 

The challenges are considerable. So are the rewards. You are all well placed to contribute to solutions and pursue careers that will bring you satisfaction and fulfilment, however you define them. As we all start this new academic year, I wish the Estonian Business School, its staff and students every success in your work here. And I urge all of you to set your professional futures firmly in the context of the challenges and opportunities presented by the pressing need to address climate change as the biggest economic driver of this century.

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