The hot new issue

FOR ALL THE FANFARE that preceded it, the agreement on global warming signed Monday by British Prime Minister Tony Blair and Gov. Arnold Schwarzenegger is more a promise than a plan. The nation and the nation-state, the two leaders agreed, will collaborate on new, clean-fuel technologies and research the costs and benefits of mandatory emissions trading programs such as those recently put in place in Britain and the rest of Europe. These programs essentially allow businesses to buy and sell the right to pollute, with the goal of reducing pollution overall.

In other words, more study needed.

But that’s neither a surprise nor a disappointment -- for now. The bigger and more encouraging surprise is that two poll-challenged pols -- a roller-coaster governor up for reelection and an embattled prime minister trying to stave off retirement -- would turn to global warming as a way to score points. That says a lot about the public’s growing concern about the climate crisis. At least in California and Britain.

In much of the United States, unlike in Europe, regular folks don’t share this understanding of the crisis. Whether as a cause or a consequence, President Bush has largely ignored global warming or, worse, sowed doubts that it is even happening, a stance that has grown harder to maintain in the face of scientific findings during the last two years.

In fact, business -- the constituency so many politicians fear to ruffle by proposing energy regulations -- has shown more leadership than many governments on climate change. Business leaders recognize that it is more than simply an environmental issue. It’s an energy issue. It’s an economic issue. It’s a national security issue.

They also recognize the costs of doing nothing. Not only the costs of drought and hurricanes, which we’re already paying, but the opportunity cost. They see not just a moral imperative but a market for cleaner energy. The United States, which has always risen to scientific and technological challenges, is in danger of sitting this one out.

But even business leaders acknowledge that they cannot solve this alone. As BP Chief Executive John Browne, who hosted the Blair-Schwarzenegger meeting at BP’s Long Beach shipping terminal, said at a meeting Tuesday with The Times’ editorial board, the role of governments can’t be underestimated even in seeking a market-based solution. “The way government creates regulations determines markets,� he said. “And markets determine behavior.�

Californians acted on stem cell research when the federal government didn’t. Now they’re ready for someone to do more than talk about global warming. They want someone to lead.