Climate change

Business and Industry NGOs (BINGOs) Statement

  • 1 December 2023

Business and Industry NGOs Statement COP28

ICC is the official Focal Point for Business to the UN Framework Convention on Climate Change (UNFCCC) and delivered the official Business and Industry NGOs (BINGOs) Statement at the opening plenary of COP28 on 30 November 2023.

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Ester Baiget, CEO of Novozymes, a global biotechnology company, delivered the statement on behalf of the global business community.

Stressing business commitment to the Paris Agreement, the statement calls for an ambitious stocktake and tangible outcomes from COP28 that work for the planet and people.

The statement urges parties to deliver tangible outcomes in three central areas: 

  1. An ambitious and forward-looking Global Stocktake that delivers what science tells us is needed: mitigation at speed and at scale and a just and responsible energy transition worldwide. This must include concrete policies that enable net-zero, such as effective carbon pricing, while utilising all available technologies.

  2. While welcoming ongoing efforts to mobilise 100 billion US dollars in climate finance and applauding a commitment by several countries to the new Loss and Damage Fund, there remains an urgent need for COP28 to deliver beyond promises.

  3. ICC urges Parties to lay the foundation for a cross-border carbon market by continuing their efforts and settling on all outstanding elements related to Article 6 of the Paris Agreement.