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More than 100 world leaders gathered in Copenhagen on December 7 for a two-week summit meeting whose ambitious aim is to renew the Kyoto protocol on climate change. The issues being discussed include reducing emissions of green-house gases and setting a price for carbon, among others. What are the likely business implications of these issues? What new challenges and opportunities will they create during the coming months? Knowledge@Wharton discussed these topics with Wharton legal studies and business ethics professor Eric Orts; Howard Kunreuther, Wharton professor of decision sciences and public policy; and Erwann O. Michel-Kerjan, managing director of the Wharton Risk Management and Decision Processes Center. An edited transcript of the conversation will be available shortly.