We Mean Business Coalition statement on the UNSG Special Event on Climate
We Mean Business Coalition
Our statement following the UNSG Special Event on Climate in New York:
Gillian Nelson, Director of Policy and Strategy, We Mean Business Coalition said: “Countries’ new climate plans highlight a gap between ambition and what’s needed, while also being disconnected from the realities we see in the global trends for clean energy. China’s target marks the first time the world’s second largest economy has committed to an absolute reduction in emissions. Yet the announced 7–10% emissions cut from peak levels by 2035 and its commitments to increase the share of non-fossil fuels and expand installed capacity of wind and solar power are modest compared to the trends we see in the country. However, its resolve to strive to do better is encouraging and we can be confident China will achieve this target and likely go much further. For business, this signals that, while policy remains uneven, investment planning must track the rapid expansion of clean energy.
“Across the board, many countries – including the EU – are putting forward ranges rather than fixed commitments. These ranges create uncertainty for markets and investors, making it harder to plan the pace of industrial transition. By COP30, it will be critical that governments converge on the upper end of ambition, providing the clarity and consistency businesses need to scale clean technologies and manage risks.
“The scale of the gap countries need to bridge is immense: the 2035 emissions cuts announced so far equal around 6% of what’s needed for a 1.5 °C pathway. Without a sharper course correction through stronger global cooperation, both the planet and economies risk shifting into crisis – countries need to raise ambition and tighten targets to unlock a stable future.”