It is critical that policymakers step up and urgently commit to implement the key policies needed to embed climate action into our financial system
- Feike Sijbesma CEO of Royal DSM
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Welcome to the mid-COP25 edition of the We Mean Business coalition newsletter.
With progress underway at the summit in Madrid, the call from business for negotiators to deliver an ambitious outcome continues to be heard.
A group of CEOs from more than 75 companies, who employ over 2 million people in the US, along with union leaders who represent 12.5 million workers, signed a statement to underline their conviction that a commitment to the Paris Agreement requires a just transition of the workforce.
And in Japan, 126 companies - led by Climate Leaders’ Partnership (JCLP) - sent an open letter to relevant ministers calling on the Japanese government to raise its ambition to align with the Paris Agreement.
Meanwhile evidence of impact from companies committed to climate action is growing.
The first progress report from the Science Based Targets initiative (SBTi) reveals that by meeting their targets, 285 companies will reduce their emissions by 265 million metric tons of CO2 equivalent, approximately equivalent to shutting down 68 coal-fired power plants.
More than 30 member companies of RE100 - led by The Climate Group in partnership with CDP - have already reached their 100% renewable electricity target, the 2019 RE100 Progress and Insights Annual Report shows.
Also in this edition, we look at the need to continue multi-stakeholder collaboration beyond the Marrakech Partnership’s current 2020 mandate. We hear from The B Team CEO Halla Tómasdóttir about why governments need to deliver on their commitment to a just transition.
Plus we welcome the launch of Countdown - a new global initiative to cut emissions to zero powered by TED and Future Stewards.
At COP 25, and throughout 2020, the We Mean Business coalition is calling on governments to:
- Commit to achieving a just transition to economy-wide net-zero emissions by 2050 at the latest
- Strengthen their NDCs and 2030 targets in line with a 1.5ºC trajectory
- Lay out national policies, plans and laws to enable the achievement of these targets
Read more about our asks of governments here >
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From the We Mean Business blog
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To date well over 100 leading companies have signed a pledge, committing to cut emissions in line with what science says is necessary to limit global warming to a maximum of 1.5ºC.
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Last year, we saw nearly 40 governments commit to a just transition. Yet the enabling policy and investment lags behind. Now is the time to work with businesses, unions and workers to put this commitment into action, writes Halla Tómasdóttir, CEO, The B Team.
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With the importance of public-private collaboration for implementing climate action only set to grow, we want to see the continuation of the UNFCCC’s engagement with the broader world of global climate action beyond 2020.
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Exploring the SBTi's progress in driving ambitious climate action
The progress report from the Science-Based Targets initiative (SBTi) reveals that 285 companies will eliminate 265 million metric tons of emissions from their operations by meeting their science-based targets - equivalent to closing 68 coal-fired power plants.
RE100: how companies are demanding a faster market response
The 2019 RE100 Progress and Insights Annual Report, from The Climate Group in partnership with CDP, tracks the progress of more than 200 RE100 member companies toward their 100% renewable electricity targets. More than 30 RE100 member companies have already reached 100% renewable electricity, the report shows.
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COUNTDOWN: A new global initiative powered by TED and Future Stewards
Launched this week from TED headquarters in NYC and live-streamed at COP25, Countdown is a new global initiative to cut emissions to zero. The We Mean Business coalition, as part of Future Stewards, is proud to be collaborating with TED on Countdown – along with a growing network of organizations including C40, the Global Covenant of Mayors, Climate Reality Project, Climate Leadership Initiative and Project Drawdown. Click here to learn more and #JointheCountdown.
Joint Labor Union and CEO Statement on the Paris Agreement
A group of CEOs who employ more than 2 million people in the US and union leaders who represent 12.5 million workers renewed their commitment to a just transition that respects labor rights and is achieved through dialogue with workers and their unions.
COP25: Let’s talk about ambition
Businesses around the world have a vital role to play in delivering a net-zero emissions world to combat dangerous climate change, writes Peter Bakker, President and CEO of the World Business Council for Sustainable Development.
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126 businesses call for Japan to raise its climate ambition
This week in Japan, 126 companies - led by Climate Leaders’ Partnership (JCLP) - sent an open letter to relevant ministers calling on the Japanese government to raise its ambition to align with the Paris Agreement.
COP 25: Renewable energy ambition in NDCs must double by 2030
Countries are being urged to significantly raise renewable energy ambition and adopt targets to transform the global energy system in the next round of Nationally Determined Contributions (NDCs), according to a new report by IRENA.
US Congress commits to act on climate crisis, despite Donald Trump
The US will take action on greenhouse gases despite Donald Trump’s rejection of international cooperation, a delegation from the US Congress told the UN climate conference in Madrid, the Guardian reports.
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Businesses around the world are calling for ambitious government policies that strive to limit global warming to a maximum of 1.5ºC. Companies need clarity and confidence to invest in a zero-carbon future.
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To address the climate emergency, we need a rapid & deep change in how we do business, how we generate power, how we build cities, how we move and how we feed the world. If we don’t urgently change our way of life, we jeopardize life itself. #COP25
In 10 days, the @EU_Commission will present the #EUGreenDeal. Our goal is to be the 1st climate neutral continent by 2050. If we want to achieve that goal, we have to act and implement our policies now. Because we know that this transition needs a generational change. #COP25
We power the transition to #CleanEnergy ➡️No #fossilfuel financing from the end of 2021 ➡️Increased support for low and zero carbon technology ➡️Support for a #JustTransition in regions dependent on fossil fuels Read our EIB energy lending policy: http://bit.ly/2pQAKTO #COP25
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UNFCCC COP 25:
2-13 December, 2019 | Madrid
World Economic Forum Annual Meeting:
21-22 January, 2020 | Davos-Klosters
WBCSD at the World Economic Forum Annual Meeting:
21-24 January, 2020 | Davos-Klosters
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We Mean Business is a global coalition of nonprofit organizations working with thousands of the world’s most influential businesses to accelerate the transition to a low-carbon economy.
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We Mean Business wants to hear from you:
info@wemeanbusinesscoalition.org
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