The world’s biggest challenge is also a historic economic opportunity. There is a strong business case for ambitious and pragmatic climate action. The current rate and unpredictability of climate change constitute significant risks for the global economy, social fabric and infrastructure. An increasing number of businesses are taking action across their value chains to reduce their carbon footprint. They are joining large-scale, cross-sectoral partnerships to accelerate the development and implementation of transformational low-carbon technology solutions. Reporting on greenhouse gas emissions, producing energy efficient products, changing investment paths towards new technologies, and promoting the sustainable management of forests, are among the actions that innovative businesses are taking.
The urgency of the climate challenge requires business measures to be backed by the right policy frameworks to create an upward spiral of ambition and have impact at scale. If resourced and implemented correctly, zero emissions strategies are compatible with economic growth and will help countries accelerate the transition towards a low carbon future. This transition must start now.