Businesses Back IPCC Synthesis Report; Renew Call for Bold Policy on ClimateWe Mean Business
On Sunday, November 2nd, the Intergovernmental Panel on Climate Change [IPCC], along with UN Secretary General Ban Ki-moon, published their final report of the science of climate change before the critical Paris negotiations in December 2015.
This report is the summary of a vast body of credible scientific research on climate change. And the message is clear: climate change is more certain than ever, the negative impacts are numerous and serious, and urgent action is in order.
A coalition of organisations working with thousands of the world’s most influential businesses and investors on climate action, We Mean Business endorses the IPCC’s report and calls on other businesses to join the transition to a low carbon economy.
More than ever, business recognizes that climate change is one of the greatest risks we face – and that tackling it is also one of our biggest economic opportunities. Companies have the potential to unleash a wave of innovation in low carbon technologies, creating new products and services, generating employment, reducing energy consumption and increasing savings, if the right policies are in place.
Many businesses have helped kick-start this movement by setting ambitious targets, reporting emissions and scaling up low carbon investment. And the private sector understands the scale of the opportunity. On average, leading companies that have set targets aligned with the science and publicly disclosed their performance are seeing an Internal Rate of Return of 27% on low carbon investments with some reporting an IRR as high as 81%, according to The Climate Has Changed, the flagship We Mean Business Report.
But the necessary change needed to address climate change is not happening fast enough. Further action from government will help more companies take this to scale.
Business needs policies that help scale up clean energy and energy efficiency, conserve natural resources, send the right price signals to drive investment in low carbon technologies and build resilience into their operations, workforce and communities.
By working together, business and government can meet the climate challenge much more efficiently and help create a better, safer and healthier world. As the next Conference of the Parties approaches, business and government will be well served by using this data to inform their priorities on climate change.
The IPCC Report offers us one more chance to learn from data. Let’s turn risks into opportunities. Let’s make informed decisions.
About We Mean Business
We Mean Business is a collaboration of the world’s most influential business organizations and investors working together to amplify a unified business voice in the climate debate and highlight the opportunities offered by the transition to a low carbon economy.