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 at 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.