Climate change

5 key takeaways from COP23 Business and Industry day

  • 10 November 2017
FIJI Seruiratu COP23 business day

Private sector commitment to meet objectives of the Paris Agreement on climate change was put under the spotlight during a dedicated business and industry day (BINGO Day), which took place in Bonn, Germany, during the ongoing climate talks under the UNFCCC.

The International Chamber of Commerce is the official business focal point for private sector engagement in the UNFCCC and we’ve selected some sound bites from our BINGO Day speakers to bring you 5 key takeaways from the discussions.

  1. The need for speed

Business can play a catalytic role at a critical time when momentum must be kept for climate action. Two years after the Paris Agreement was struck, it’s time to ramp up ambition. With the right policy frameworks in place, more can and must be done.

  1. A vested interest in a low carbon future

As well as social and health benefits, the transition to a low carbon economy presents business with over US$12 trillion in opportunities to be tapped into. It’s time to recognise that business commitment is valid.

  1. All in this together

Collaboration and partnerships between business, governments and society is the only way to address a shared interest in reducing greenhouse gas emissions and pursuing a low carbon future.

  1. Mind the gap

The private sector will play a major role in helping to bridge the climate finance gap. Business has the capacity and the desire to invest in projects to deliver mitigation and adaptation outcomes.

  1. We won’t back down

The private sector will not back down from commitments to meet the climate challenge. The message from business is clear… #WeAreStillIn