COP27: ICC reaffirms global business’ commitment to working towards a net zero future

Excellencies, distinguished delegates, ladies and gentlemen – My name is Andrew Wilson. I am the Global Policy Director at the International Chamber of Commerce – the institutional representative of 45 million companies in over 130 countries.

It is my honour to address you today on behalf of the Business and Industry Constituency at this meeting.

The global business community is fully aware of – and indeed directly exposed to – the severe headwinds facing the global economy at the current time.

As well as the growing risks to energy and food security and financial stability.

Let me be clear, however, these unforeseen pressures have not in any way dampened our commitment to working with all stakeholders to secure a net zero world by 2050.

Indeed, we see ambitious, effective and coordinated climate action as a vital bulwark against the multifaceted threats that we currently face.

As well as a pathway towards a more resilient future in an increasingly interdependent world.

For business the goal of limiting global temperature increases to 1.5C is not a matter of political rhetoric: it is an absolute imperative given the growing impact of extreme weather events on the viability of businesses across the world.

In this context, we urge you to ensure that all decisions taken at COP27 serve to accelerate the global economy’s pathway to a net zero future.

To this end, we encourage you to ensure that this Conference delivers, at a minimum, three fundamental outcomes:

First, a clear signal of Parties unswerving commitment to keeping 1.5 alive.

Second, effective and immediate operationalization of decisions taken last year in Glasgow, in particular on Article 6 of the Paris Agreement.

And, last but more certainly not least, a credible plan to mobilize the finance developing and climate vulnerable countries need to enable vital mitigation and adaptation efforts – at a scale the properly recognizes the severe fiscal constraints faced by emerging markets in the wake of the COVID-19 pandemic.

This must be a COP that delivers on the historic agreement made in Paris, the promise of the Glasgow Pact forged last year and finally delivers for those most vulnerable to climate change.

That means no lowering of ambition.

And no deferral of decisions on implementation.

Please count on the full support of the International Chamber of Commerce and the global business community to make this a COP that truly delivers for people and our planet.