COP24: 4 business priorities for a pivotal · As COP24 kicks off this week, here are four key...
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Business is stepping up climate action and a Paris Rulebook will give business the framework it needs to go further, says the International Chamber of Commerce, which represents business and industry at the 24th Conference of Parties (COP24). Home (https://iccwbo.org/) / News & Speeches (https://iccwbo.org/media-wall/news-speeches/) / COP24: 4 business priorities for a pivotal climate summit COP24: 4 business priorities for a pivotal climate summit News (https://iccwbo.org/media-wall/news-speeches/?type=news) • Katowice, Poland, 03/12/2018 The consensus has long been established. The 24th Conference of Parties – or COP24 – is a pivotal moment in the global effort to combat climate change. Taking place in the southern Polish city of Katowice three years after the landmark Paris Agreement was successfully negotiated, COP24 marks the deadline for Parties to agree on the ‘Paris Rulebook’. This implementing framework shows how governments plan on reaching the ambitious goals the agreement sets out – namely, keeping the increase in global average temperatures to well below 2°C. Recent scientific research has shown just how urgent and fraught it is to reach these global climate goals. The latest special report from the United Nations’ Intergovernmental Panel on Climate Change (https://www.ipcc.ch/news_and_events/pr_181008_P48_spm.shtml) (IPCC) warns that urgent changes are needed to avoid the vast economic and social costs that global warming of 1.5°C above pre-industrial levels will entail. As COP24 kicks off this week, here are four key business priorities: 1. Step up climate ambition More companies than ever before are taking transformative climate action and the reason is simple: climate change is everyone’s business. A failure to mitigate the impacts of climate change would wreak catastrophic damage on things we all share —our common planet and the prospects for future generations. It would also be extraordinarily bad for business and the global economy as a whole. There are also great gains to be found in leading the charge towards emerging low-carbon markets. ICC is calling on Parties to raise the ambition of their nationally determined contributions (NDCs) to meet the goals of the Paris Agreement and foster global efforts to reach net greenhouse gas neutrality as soon as possible. “A failure to address climate change will hurt us all,” said ICC Secretary General John W.H. Denton AO. “Countries must go beyond the bare minimum and take transformative action if we are to achieve the goals set out in the Paris Agreement.” By continuing your visit to this site, you accept the use of cookies to make easier to navigate and to make statistics of visits ACCEPT Learn more and set cookies (https://iccwbo.org/p
Transcript of COP24: 4 business priorities for a pivotal · As COP24 kicks off this week, here are four key...
Business is stepping up climate action and a Paris Rulebook will give business the framework it needs to go further,says the International Chamber of Commerce, which represents business and industry at the 24th Conference ofParties (COP24).
Home (https://iccwbo.org/) / News & Speeches (https://iccwbo.org/media-wall/news-speeches/) / COP24: 4 business prioritiesfor a pivotal climate summit
COP24: 4 business priorities for a pivotalclimate summitNews (https://iccwbo.org/media-wall/news-speeches/?type=news) • Katowice, Poland, 03/12/2018
The consensus has long been established. The 24th Conference of Parties – or COP24 – is a pivotal moment in the global effortto combat climate change. Taking place in the southern Polish city of Katowice three years after the landmark Paris Agreementwas successfully negotiated, COP24 marks the deadline for Parties to agree on the ‘Paris Rulebook’. This implementingframework shows how governments plan on reaching the ambitious goals the agreement sets out – namely, keeping theincrease in global average temperatures to well below 2°C.
Recent scientific research has shown just how urgent and fraught it is to reach these global climate goals. The latest specialreport from the United Nations’ Intergovernmental Panel on Climate Change(https://www.ipcc.ch/news_and_events/pr_181008_P48_spm.shtml) (IPCC) warns that urgent changes are needed to avoidthe vast economic and social costs that global warming of 1.5°C above pre-industrial levels will entail.
As COP24 kicks off this week, here are four key business priorities:
1. Step up climate ambition
More companies than ever before are taking transformative climate action and the reason is simple: climate change iseveryone’s business. A failure to mitigate the impacts of climate change would wreak catastrophic damage on things we allshare —our common planet and the prospects for future generations. It would also be extraordinarily bad for business and theglobal economy as a whole. There are also great gains to be found in leading the charge towards emerging low-carbonmarkets. ICC is calling on Parties to raise the ambition of their nationally determined contributions (NDCs) to meet the goals ofthe Paris Agreement and foster global efforts to reach net greenhouse gas neutrality as soon as possible.
“A failure to address climate change will hurt us all,” said ICC Secretary General John W.H. Denton AO. “Countries mustgo beyond the bare minimum and take transformative action if we are to achieve the goals set out in the ParisAgreement.”
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2. Adopt the Paris Rulebook
In order for companies to fulfil their positive potential for climate action, greater certainty on long-term climate policies andrequired investments is needed. This Paris Rulebook would allow business to increase their investments in innovation,research, infrastructure and new technologies and solutions that will be essential to achieving the emissions targets andambitions of the Paris Agreement.
“We encourage all Parties at COP24 to finalise the key details that will enable full implementation of the Paris Agreement,” saidJustin Perrettson, Head of Global Engagements at Novozymes and Chair of ICC’s Commission on Environment and Energy.“This will encourage more ambitious NDCs, as well as innovation to support climate change issues.”
3. Bring business to the table
The climate rules and policies that are agreed at the international and national levels will have an enormous impact on howbusiness can help combat climate change, affecting companies’ domestic and international operations, supply chains, planningand investments. This means that business has uniquely relevant insights, technical expertise and case studies that will becritical to ensuring the effectiveness of NDCs.
While business is participating in the implementation of the Paris Agreement, the dialogue could be much more effective. In thespirit of the Talanoa Dialogue – the Fijian tradition of inclusive, participatory and transparent decision-making – ICC urgesParties to include business in developing climate change policy, to accelerate and encourage private sector innovation in game-changing technologies through appropriate fiscal policies and de-risking flows of private capital into climate change adaptationand mitigation investment opportunities.
4. Design transformative climate policies that work for everyone, every day, everywhere
As the IPCC Special Report on 1.5° states, urgent and transformative policies are needed to reach the goals set out in the ParisAgreement. Such changes will have dramatic implications for workers around the world and their communities – especiallythose in industries with larger carbon footprints. As we work to achieve the goals of the Paris Agreement, it will be necessary forall society’s stakeholders to set a sustainable path for communities, workers and the climate that leaves no one behind.
Business is a key agent in this regard and ICC has launched a new paper setting out the global business community’sprinciples for a just transition (https://iccwbo.org/publication/icc-principles-just-transition/) – safeguarding the economicand social viability of communities throughout the global shift to a net-zero emissions economy by working together with allstakeholders.
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Visit the ICC website to view the messages we’ll be voicing at COP24 on behalf of businessand get the full businessperspective on the Paris Rulebook: www.iccwbo.org/cop24 (http://www.iccwbo.org/cop24)
Follow us on Twitter throughout COP24 at @iccwbo (https://twitter.com/iccwbo)
Photo by UNFCCC
Stephen Lloyd+33 1 49 53 28 49Global Communications CoordinatorContact (mailto:[email protected])
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