President Obama announced the first-ever National Climate Plan for the United States in June 2013. Under the plan, the U.S. Environmental Protection Agency (EPA) will set carbon pollution...
It’s time for businesses and governments to step up to the climate challenge and match words to actions.
This week at the annual international climate talks in Warsaw, companies, policymakers, and civil society participated in an event to deepen business engagement on climate policy. Such interaction could not have come at a more critical time.
Global emissions are on the rise. And last year, climate and extreme weather events alone cost $200 billion.
The world clearly needs to accelerate its response to the climate challenge. Businesses and governments need to work together constructively to raise the level of action and ambition. That means policymakers step up to provide a strong market signal and support, while companies come to the table with clear, public, constructive input.
Coal is emerging as a major topic of conversation at the United Nations climate-change negotiations currently taking place in Warsaw – and rightly so. Indeed, it is a discussion that the world needs to have.
The latest findings of the Intergovernmental Panel on Climate Change conclude that we are quickly using up our carbon “budget” – the amount of carbon that we can afford to emit while still having a good chance of limiting global warming to 2º Celsius. According to the IPCC, keeping the global temperature increase from pre-industrial levels below this threshold – the recognized tipping point beyond which climate change is likely to get seriously out of control – requires that the world emit only about 1,000 gigatonnes of carbon (GtC). More than half of this amount was already emitted by 2011. Unless we shift away from carbon-intensive behavior, the remaining budget will run out in roughly three decades.
As the UN climate meetings (COP 19) in Warsaw, Poland get down to serious business in their second week, the world beyond the negotiations looms large – both with challenges and with promise. It’s an important reminder of the stakes inside the negotiating venue.
Inside the negotiating rooms, things kicked into a higher gear yesterday. The co-chairs put forward a negotiating text laying out the key issues for establishing a new climate action agreement in 2015 (under the Durban Platform). Over the next several days, negotiators will grapple with four key issues.
While many people are traveling to Warsaw this week to participate in the international climate negotiations (COP 19), the city is also hosting another global conference: the International Coal and Climate Summit. It’s a troubling juxtaposition—coal contributes to 43 percent of global greenhouse gas emissions, making it a major driver of climate change. In fact, a new statement released by leading scientists suggests that nearly three-quarters of fossil fuel reserves—especially coal—must remain unused if the world is to limit temperature rise to 2 degrees Celsius. In other words, limiting sea level rise, extreme weather events, heat waves, and other climate impacts requires staying within world’s “carbon budget”—which doesn’t include unabated coal use.
Adapting to the impacts of climate change—like heat waves, increased floods, and natural disasters—is an enormous challenge. It’s also one that comes with an enormous price tag. Although it’s difficult to calculate the extent of the costs, the World Bank estimates that developing countries need $70 to $100 billion USD per year through 2050 to meet their current and future climate adaptation needs.
The Climate Policy Initiative, however, estimates that in 2011, only $4.4 billion USD in adaptation finance went to developing countries. This leaves a gap of anywhere from $65.6 to $95.6 billion USD per year between what developing countries need and what developed nations are giving.
So who can help fill this gap?
As the risks that climate change poses to business becoming ever clearer, corporate executives are increasingly recognizing that policy action is essential. The Guide to Responsible Corporate Engagement in Climate Policy—from the U.N. Global Compact, U.N. Framework Convention on Climate Change, U.N. Environment Programme, World Resources Institute, CDP, WWF, Ceres, and The Climate Group—for the first time establishes a shared, practical definition of responsible corporate engagement. The new guide details three essential steps businesses can take to effectively engage in climate policy.
First-of-its-Kind Guide Calls on Companies to Align Corporate Sustainability Initiatives and Climate Policy
WASHINGTON– For the first time ever, companies have a guide to manage and report on their direct and indirect influences on climate policy. The UN Global Compact, in cooperation with seven leading international organizations, today released guidelines to help companies engage in climate policy in a transparent and accountable way that is consistent with their sustainability commitments.
A Caring for Climate Report
This guide provides practical insights on why and how companies can provide constructive influences on climate policy. It is the output of a review and consultation on responsible corporate engagement, undertaken by the UN Global Compact in cooperation with UNEP, UNFCCC, WRI, UNGC, CDP, WWF,...
The Guide for Responsible Corporate Engagement in Climate Policy--produced by U.N. Global Compact, U.N. Framework Convention on Climate Change, U.N.