COP26 will be seen as an inflection point for global climate recovery.
WBCSD welcomes the final agreement and progress made in key areas, such as the phase-out of inefficient fossil fuel subsidies, the phase-down of coal, and the requirement for Parties to update their Nationally Determined Contributions ahead of COP27 in Egypt.
This COP has been like none other.
We have seen that alongside the core negotiations, public-private co-operation has delivered great progress.
As the premier global, CEO-led community of the world’s leading sustainable businesses, we have been proud witnesses of the leadership the private sector has shown on climate action in Glasgow.
However, more must be done if we are to achieve a net zero, nature positive and equitable future for 9+ billion people to live, within planetary boundaries, by 2050.
We firmly believe that if we are to hold temperature rises to 1.5°C, we need to make the annual COPs inclusive for all and recognize the crucial role of public and private sector collaboration to deliver results.
That is why ahead of COP27, through our Business Manifesto for Climate Recovery, we are calling for the development of a new global framework of Corporate Determined Contributions to capture business progress and delivery against their targets, ambitions and aims.