Bold climate policy drives decisive business action
The shift to a global net zero economy has begun, but strong policies are needed to accelerate the transition and reap the benefits.
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Accelerating towards a Global Net Zero Economy
Now is the time for all countries to commit and course correct to the 1.5°C trajectory, translate global goals into national policies and deliver climate action by system. This must include urgently reducing fossil fuel production and consumption this decade alongside scaling up clean energy, as emphasized by the IPCC 6th Assessment Report.
Delivering on these goals requires policy alignment across the whole of government, sector specific incentives and regulations, and an overall strong focus on accelerating a just and equitable transition from fossil fuels to clean solutions.
Accelerating action towards 1.5°C in this way will help drive sustainable economic growth, build resilience and solidarity, and create new jobs as part of a just and inclusive transition.
While domestic policies directly drive investment and behaviour change, the international process coordinated through the UN Framework Convention on Climate Change (UNFCCC) plays a vital role in encouraging greater ambition from each country, including through increasing transparency of policy developments across countries.
The next round of Nationally Determined Contributions (NDCs), to be submitted by 2025, is of critical importance if the world is to realign towards a net-zero trajectory. Governments must work with business to develop more ambitious NDCs, as well as detailed implementation plans and individual policies that drive systems transformation across systems.