Climate change is one of the biggest threats facing the world. It impacts all regions and sectors, and threatens the global economy and sustainable development. While the poorest countries and communities will be impacted most, climate change will affect everyone.
On the other hand, addressing the climate challenge also offers significant opportunities for businesses offering solutions.
The Sustainable Development Goals recognise the need for the global community to take urgent urgent action to combat climate change and its impacts (Goal 13).
COP21: 2015 Paris Climate Conference
In December 2015, the UN achieved a global climate agreement which requires all countries to pledge action on climate change, with the aim of keeping global warming “well below 2°C above pre-industrial level” and endeavour to limit them to 1.5°C.
Business has a key role to play in filling the gaps between the commitments made by governments, and what is needed to keep warming below 2°C, including through innovation and financing solutions.
As the official platform for business at the climate negotiations, the UN Global Compact and Caring for Climate played a key role in bringing business into the process and helping drive private sector commitments.
“We believe the Paris Agreement sends the right market signals which will provide predictability, unlock capital, drive innovation and reward responsible business. It is no longer a question of if we transition to a low carbon economy. Rather, it is a question of how.” (Lise Kingo, Executive Director, UN Global Compact)
Caring for Climate
Caring for Climate is a joint initiative of the UN Global Compact, the UN Environment Programme (UNEP) and the UN Framework Convention on Climate Change (UNFCCC) Secretariat, aimed at advancing the role of business in addressing climate change.
Caring for Climate provides a framework for business leaders to advance practical solutions and help shape public policy as well as public attitudes. CEOs who support Caring for Climate commit to set goals, develop and expand strategies and practices, and publicly disclose emissions.
Website: Caring for Climate
Website: Science-Based Targets Initiative
Guide for Responsible Corporate Engagement in Climate Policy
UN Global Compact-Accenture CEO Study Special Edition: A Call to Climate Action
Executive Guide to Carbon Pricing Leadership
Further resources are available here