Hundreds of major companies are taking bold action on climate change. They have set science-based emissions reduction targets in line with the Paris Agreement and committed to increase efficiency and run on 100% renewable energy. Their customers and employees expect them to prepare for risks and capture new market opportunities.
Meanwhile, nearly every national government has signed the Paris Agreement and committed to limit global warming to well below 2 degrees C and pursue efforts to limit it to 1.5 C. Their residents want cleaner air, affordable clean energy and transport, and sustainable economic growth.
Business and government can create a positive feedback loop for stepping up climate action. When businesses promise to slash their carbon footprints, governments have more political support to pass ambitious climate policies. When governments set effective, clear policies that favor low-carbon innovation, businesses have greater incentives to invest. These “ambition loops” are emerging in countries around the world and are speeding up clean economic growth.
An upcoming report produced by We Mean Business, UN Global Compact, and World Resources Institute will recommend policy approaches that support climate-friendly business in key sectors and countries. It will include in-depth examples of countries where alignment between public and private sector goals have resulted in ambition loops. A gap analysis will point to opportunities to accelerate corporate climate action with ambitious, comprehensive, clear, and long-term policies.
Our research will focus on the following areas:
Renewable Energy:Many major companies have pledged to run entirely on renewable energy in coming years. Our analysis will help identify the policies governments are implementing to create more solar, wind, and other sources of renewable energy with help from corporate energy buyers.
Clean Transport:Electric cars, better public transit, and alternative mobility solutions are improving air quality and decongesting city streets. Our analysis will examine how auto companies are moving toward electric vehicles and which government policies are helping drive clean, smart transport infrastructure and ownership.
Land & Forests:A growing number of companies have pledged to stop contributing to loss of the world’s forests, in close coordination with their suppliers from around the world. Our analysis will give examples of government policies that support protecting forests and investing in forest restoration.
This report is essential reading for forward-thinking executives who engage with national governments to create a favorable business environment for themselves and their industries, as well as policy makers who wish to foster a clean, vibrant economy for their constituents.