Katowice, Poland, 3 December 2018: Today at COP24 in Poland, the World Business Council for Sustainable Development (WBCSD) released key policy recommendations for COP24 negotiators on behalf of nearly 200 global businesses.
“If we want to avoid the most devastating impacts of climate change, we have no choice: we must limit global warming to well-below 2°C, with 1.5°C as the new North Star. There’s no room for complacency. The science is clear: If we don’t act now, the world will surpass 3°C as early as 2100,with devastating consequences,” the opening statement of the policy document reads.
According to WBCSD and its members, proven technologies and business models exist that will help meet the Paris Agreement, but deployment is still too slow. As such, they are calling on policymakers to accelerate the implementation of climate solutions now.
COP24 is a critical moment for governments to set the frameworks that can help accelerate the pace of change – and it’s also a chance for companies to demonstrate and strengthen the political will to address the climate challenge.
WBCSD member companies are calling for an outcome from COP24 that strengthens the international climate regime across three key themes: increased ambition, clear rules and strong enablers – which include effective carbon pricing mechanisms and ambitious resilience efforts.
Since COP21, over 800 companies with USD $16.9 trillion in market capital have made over 1,300 commitments to address the climate challenge through the We Mean Business Take Action platform. This wider group is also calling for strong climate policies arising from COP24.
“Now is the time to speed up and scale up climate ambition. It is tangible action that will help catalyze the necessary transformations in energy, transport, industry and land-use to limit global warming at a pace that science demands. Business is at the forefront - calling on policymakers to step up,” said María Mendiluce, Managing Director of Climate and Energy at WBCSD.
In other words, according to Ms. Mendiluce, many companies are delivering on their take action commitments and are ready to do more. For example, through WBCSD’s Low Carbon Technology Partnerships initiative (LCTPi), hundreds of businesses are taking concrete action to implement their climate commitments on the ground.
According to WBCSD, “The question is no longer can we change? The question is how fast do we want to?” Key businesses believe it’s time to go further, faster and stand ready to support global leaders in demonstrating the will to accelerate greenhouse gas emissions reductions.