ORGANIZATIONS WORKING WITH THOUSANDS OF BUSINESSES AND INVESTORS CALL FOR NATIONAL AND INTERNATIONAL LEADERS TO COMMIT TO NET ZERO EMISSIONS
Organizations working with the world’s most influential businesses and investors have laid out a clear set of demands and offer of a meaningful partnership to meet the great climate challenges ahead of us via a letter to G7 leaders meeting today and tomorrow in Germany.
“We want a global climate deal that achieves net zero emissions well before the end of the century, and that to be a firm commitment at COP21 In Paris in December,” said Nigel Topping, CEO of We Mean Business.
“As G7 Leaders commence meetings in Schloss Elmau today, it’s worth reminding them that the last such gathering on German soil in 2007 saw these leaders commit to taking strong and early action to stabilize greenhouse gas concentrations at a level that would prevent dangerous climate change.
“We further recall the agreement in L’Aquila in 2009 to set a global goal for emissions reductions in a joint effort with the major emerging economies.
“In 2015 this action is ever more urgent, and ever more important – we have precious little time to waste.
“The latest climate science is clear that keeping global warming below 2°C requires limiting cumulative emissions to one trillion tonnes of carbon. Keeping within this budget will require long-term decarbonization.
During the next 15 years over US$90 trillion will be invested in infrastructure in cities, land-use and energy. Much of this investment will be in capital assets that will last for decades.
“Whether this is low or high-carbon investment will determine the future of the world’s climate system. Now is the time to invest in the future – not in the past.
Today thousands of businesses from across the world are looking to you to:
• Seize the opportunity presented by the forthcoming United Nations Climate Change Conference in Paris (COP21) to honor these commitments.
• Encourage all countries joining the Paris agreement to detail national decarbonization pathways to 2050.
“For Paris to be a success, business needs more than an agreement – business needs a clear long-term decarbonization signal to accelerate low-carbon and climate-resilient investment in the real economy.
“The global objective of net zero greenhouse gas (GHG) emissions well before the end of the century sends the signal we urgently need to accelerate the low carbon transition and scale up solutions.
“This will not be accomplished with a silver bullet, but through a portfolio of solutions, which build a global decarbonization pathway. As governments provide an enabling policy environment, business will be the engine of innovation, investment and cross-sectoral partnerships needed to build this path.
“When these leaders last met in Germany in 2007, they promised to lead a process of active and constructive participation in pursuit of climate security. Businesses from every corner of the globe stand ready to join them in a spirit of leadership and ambition.
“Bold climate action is an not a burden, but an historic economic opportunity. More companies and investors are committed to bold leadership on climate action than at any time in history. That’s because taking climate action simply makes good business sense.
“The business world is watching what the G7 do over the coming days and months, and we desperately need their leadership,” Topping said.
We Mean Business is a coalition of organizations working with thousands of the world’s most influential businesses and investors. We have formed a common platform to accelerate the transition to a low carbon economy in order to secure sustainable economic growth and prosperity for all.
The letter can be read here: https://www.wemeanbusinesscoalition.org/sites/default/files/WMB_G7_Letter.pdf
A full list of the 106 companies who have made commitments is here: https://www.wemeanbusinesscoalition.org/take-action
Callum Grieve, Communications m. +44 (0)7734 399994
Andrew Bradley m. +61(0) 403 777 137
e. [email protected] (In Germany)
The letter has been signed by the following: