Climate CEOs Managing $1.5 trillion Call for Action

By UN Climate Change News

Heads of 50 major global businesses representing more than $1.5 trillion in total revenue today publish an open letter to world government leaders urging greater collaboration to accelerate outcomes in the race against climate change.

The business leaders call to action comes as government leaders prepare for the UN Climate Change  Conference COP24 (2-14 December) in Katowice, Poland, where countries are set to finalize the Paris Agreement implementation guidelines to limit the global average rise in temperature to well below 2 degrees Celsius and as close as possible to 1.5 degrees Celsius.

“If we have twelve years to avoid a ‘hothouse’ earth, we absolutely cannot pursue a business-as-usual approach. Business and government must forge new partnerships that are able to drive results much more quickly than our current international architecture allows,” said Dominic Waughray, Head of the Centre for Global Public Goods, Member of the Managing Board, World Economic Forum.

The Alliance of Climate CEOs has also provided input into the UNFCCC Talanoa Dialogue and companies will be looking for a clear signal from COP24 negotiations that governments are willing to strengthen their engagement with the private sector. When they meet in Davos in January 2019, a clear focus will be on setting goals for the UN Secretary General’s Climate Summit in September 2019 to further support the urgent action needed – a watershed moment for getting the planet on track to curb emissions and avoid global temperature rise beyond 1.5oC.

Leaders from the Forum’s Alliance of Climate Action CEOs are committed to using their positions to help meet the Paris Climate Agreement goals. Thirty of the companies that signed the open letter succeeded in reducing emissions by 9%, (more than 47 million metric tonnes in absolute terms) between 2015 and 2016, the equivalent of taking ten million cars off the road for one year.

Alliance leaders call for greater public-private cooperation to accelerate effective carbon pricing mechanisms and policies to incentivize low-carbon investment and drive demand for carbon-reduction solutions. They also highlight the business case for cutting emissions to generate wider support in the private sector.

“Business has an increasingly vital role to play in accelerating the shift to a low-carbon and climate-resilient economy. This will require partnerships with other companies, governments at all levels and civil society. It also requires bold leadership and good governance, which will allow long-term creation of shareholder value alongside long-term value for our society. We, as business leaders, are committed to climate action and stand ready to facilitate fast-track solutions to help world leaders deliver on an enhanced and more ambitious action plan to tackle climate change and meet the goals set out at the 2015 Paris Climate Agreement”, said Feike Sijbesma, Chief Executive Officer and Chairman of the Managing Board, Royal DSM, and Chair of the Alliance of CEO Climate Leaders.

Among measures taken by members of the Alliance to drive climate action within their businesses:

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