COP27 Business Pavilion for Climate Leadership
We Mean Business Coalition hosted a pavilion in the Blue Zone, with WBCSD and 70+ partner organizations, to bring an ambitious and coordinated business voice to COP27.
If you missed a livestreamed session, recordings are available to watch here.
For climate action to reduce emissions
We need governments and business to double down on the action needed to avoid ever-growing human suffering and overwhelming economic costs. This is the moment to problem solve, overcome barriers and deliver emissions cuts.
We know what needs to be done across sectors by 2030, including:
At least 300 million electric cars and 6 million zero emission trucks on the road.
At least 61% of global electricity produced from renewable sources.
70+ near zero steel plants and 20+ cement plants with CCUS.
100% of new building projects to be net zero carbon in operation.
Deforestation eliminated from supply chains by 2025.
Comparable and complete corporate climate-related financial disclosure.
At COP27, forward-looking businesses wanted progress across the three key themes of the Egypt Presidency.
'The world can no longer wait.' Statement on behalf of We Mean Business Coalition ahead of COP27
To deliver on their climate ambitions, businesses need national governments to urgently set strong policies across systems. Business also relies on government to deliver international solidarity between countries.
Mitigation to cut emissions
1. Countries re-emphasize the need for Nationally Determined Contributions (NDCs) and 2030 goals to be in line with a 1.5°C pathway and the latest science to halve global emissions by 2030 as agreed at COP26, and commit to take action accordingly.
2. Countries or groups of countries make mitigation commitments in support of sector/systems transitions, in particular, to accelerate the just transition to clean energy and protect and restore nature.
3. The Mitigation Work Program for 2030 agrees to short-term urgent actions, a sectoral focus within its scope and recognizes the important role of non-state actors, including business, in sectoral decarbonization.
4. The Global Stocktake (GST) is designed and implemented in a robust manner to ensure that Parties’ level of ambition matches the action needed to achieve the 1.5°C objective:
- GST design reflects a strong purpose to accelerate global ambition, inclusivity and an evidence-based approach.
- Non-Party Stakeholder action should be integrated into the GST through Biennial Transparency Reports, alongside direct submissions to the GST.
Adaptation and building resilience
1. COP27 elevates adaptation and building resilience, including the needs of access to finance, technology and capacity
2. Tangible process is made in the 2-year work program launched at COP26 to develop a Global Goal on Adaptation
3. Finance by developed countries towards adaptation increases. Specifically, public financing from developed countries to support developing countries reflects a 50:50 split towards climate mitigation and adaptation
4. Loss and Damage (L&D) is on the formal agenda of COP27, and progress is made on:
- Recognition of impacts being felt already and need for collective response
- Finance pledges and instruments – COP27 may see some governments coming forward with new pledges for finance to address Loss and Damage, as well as several Parties will call for the development of a Loss and Damage facility under the UNFCCC that will ensure that L&D issues are treated in a holistic manner.
1. Countries deliver on public finance now to unleash private sector investments that immediately help reduce emissions and impacts
2. Countries deliver on the USD 100 billion per year international public climate finance commitments for developing countries’ climate mitigation and adaptation efforts
3. Countries commit to future public finance with concrete steps towards agreeing a New Collective Quantified Goal post-2025 on financing from developed countries to support developing countries
4. Countries make progress on pathways to align financial decisions and flows with 1.5°C scenarios:
- Reform fossil fuel subsidies by 2025 with plans to repurpose those towards energy efficiency, renewable energy and other measures to support a people-centered and equitable clean energy transition
- Put a meaningful price on carbon and implement the Article 6 rules
- Make climate-related environmental disclosure mandatory for corporations
Impressions from the Business Pavilion
Our CEO María Mendiluce presenting the statement in support of 1.5°C to Simon Stiell (credit: UNFCCC).
Barbara Davidson of Carbon Tracker speaking at the 'Accounting for Climate: What are we still missing?' event.
Laura & Tashka Yawanawá, Chief of the Yawanawá, speaking at the event 'Sustainable Business in the Amazon'.
Outgoing UNFCCC Executive Secretary Patricia Espinosa at the launch reception of onepointfive.
Climate Group CEO Helen Clarkson moderating the 'Accelerating Industry Transitions in India' event.
VCMI Steering Committee Co-chair Tariye Gbadegesin speaking at the nature half-day event.
SBTi's Alberto Carrillo Pineda at the event 'Scaling science-based decarbonization across the value chain'.
The Elders Chair Mary Robinson at 'Raising Business Ambition to Accelerate a Just and Inclusive Transition'.
Browse our COP27 Business Pavilion events, hosted in collaboration with We Mean Business Coalition sponsors and supporting partners.
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E-Mobility for All
Hosted by: RMI
The global e-mobility transition is underway. New technologies and service models are driving the adoption of EVs at an accelerated rate around the world. In Africa, EVs tied to renewable mini-grids are multiplying. In the Caribbean, e-buses are delivering cleaner public transport at lower costs. The Shoonya campaign has super charged the adoption of EVs for ride-hailing and urban delivery in India. Our global panel of experts will explain how prioritising modes of transport that move most of humanity is one of the most tangible solutions to scale e-mobility globally to achieve our collective climate goals.
2030 Milestones Launch: Real-Economy, Industry-Backed Targets to Decarbonise Hard-to-Abate Sectors (and how to measure them)
Hosted by: Mission Possible Partnership
The Mission Possible Partnership will launch its 2030 Milestones for action in this decade to decarbonise heavy industry, and details of MPP's partnership with the Science-based Targets Initiative (SBTi) to simplify guidance and reporting for companies. Join our high-level panel to discuss the nuts-and-bolts of operational planning for net zero, as MPP releases detailed pathways for hard-to-abate industries that jointly contribute 30% of global greenhouse gas emissions. An alliance of climate leaders working in high-emitting sectors, will release real-economy milestones to guide practical action in this decade, MPP's sector transition strategies are endorsed by more than 200 industrial companies. This session will also explore how companies measure and report progress, building on MPP's partnership with the Science-based Targets initiative SBTi. The 2030 Milestones build on two years of analysis to map detailed pathways for action in this decade to achieve net zero by 2050, aligned to sectoral carbon budgets within a 1.5 degrees pathway. The panel will address bottlenecks in finance, policy and procurement - taking a hands-on, operationally relevant approach to these hydra-headed challenges. Guided by leading figures from industry and the energy transition, participants will roll up their sleeves for a deep-dive into the practical steps for decarbonising industries including aluminium, aviation, chemicals, concrete, shipping, steel and trucking.
Delivering on Transport Decarbonization: Companies, Cities, Regions and Countries Working Together
Hosted by: We Mean Business Coalition, SLOCAT, TDA & ITF
This event, a partnership between the MPGCA Transport Leads and We Mean Business Coalition, will highlight the progress made to date on zero emissions heavy duty vehicles (ZE-MHDVs) and the business action and policies needed to accelerate the decarbonization of on-road freight with deep dives on:
1) Zero Emission Urban Freight: highlight policies that drive decarbonization in urban freight: ZEZs and MDHD zero-emission trucks. Identify key steps for action and hurdles for countries, cities, regions and companies in implementing these policies
2) MHDV Charging: explore the financing needed to scale up charging infrastructure and the balance between private and public investment
3) Circularity: raise awareness of the importance of material availability and resilient supply chains and bridge the gap between private sector and policymakers
News and insights from the Coalition at COP27.
The best way to limit the scale of loss and damage for vulnerable communities around the world, is to cut emissions as fast as possible.
The We Mean Business Coalition partners strongly support the inclusion of language around a clean, just energy transition away from fossil fuels in the COP27 cover decisions.
Here are some of the positive signals and key announcements from the ten days of COP27, across corporate climate ambition, action, advocacy and accountability.
We Mean Business Coalition has launched a vision paper at COP27 on responsible policy engagement (RPE) by corporates.
The needs of women and communities most vulnerable to climate change should be front and centre of negotiations at COP27.
It is crucial that governments take the action necessary to keep global temperature rise to 1.5°C. Over 200 business leaders and major civil society voices reaffirm their own commitments and call on governments to urgently pursue delivery.
Through our new partnership, We Mean Business Coalition and VCMI will support companies to build integrity in voluntary carbon markets.
We Mean Business Coalition CEO María Mendiluce talks about barriers to climate action including finance access, and the need for regulation and consistent reporting.
We Mean Business Coalition calls on government to direct more funding towards business action to cut emissions and adapt to climate impacts.
We Mean Business Coalition Deputy Director, Net Zero Finance Dr. Jane Thostrup Jagd shares key takeaways from a COP27 Business Pavilion event hosted by Carbon Tracker and Climate Action 100+.
We cannot reach global emissions goals without SMEs on board, but governments and corporations must join us in facilitating their action, writes SME Climate Hub Director Pamela Jouven.
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