Code red warning from IPCC must translate into policy action, warns global business
The International Chamber of Commerce (ICC) has issued the following statement following the publication of the Intergovernmental Panel on Climate Change’s latest report on climate science.
ICC Secretary General John W.H. Denton said:
“Today’s ‘code red’ warning from the IPCC won’t come as any surprise to businesses affected by the extreme weather events of recent months. A crucial decade clearly lies ahead if we are to avert the risk of these recent disasters becoming the norm.
“The IPCC’s latest report shouldn’t be read with a fatalistic mindset: it must be seen as firing the starting gun for a concerted international effort to get the growing climate crisis squarely in check. We’ve seen a growing number of companies committing to ambitious action to decarbonize their operations in recent years. But these alone won’t be enough to limit global warming to under 1.5° Celsius and get to net zero emissions by 2050.
“What’s needed are practical plans from all governments that work with the real economy to align the recovery from COVID-19 with what the latest science tells us is needed to put the breaks on climate change. COP26 must deliver on this gaping hole in global climate policy this November before it’s too late.”
COP26 must be a turning point and deliver on the structural changes, regulatory frameworks and financial incentives that businesses need in order to deploy the billions – even trillions required to keep the 1.5° Celsius goal alive and achieve net zero by 2050.
In this context, ICC is exploring the possibility to host a major virtual event on the margins of COP26 which will bring real-world insights about the climate policies and operational strategies that have been successful – and which approaches need further support to achieve progress at scale. Envisioned as a space where policymakers, scientists, corporate sustainability and sustainable finance experts can convene for frank discussions about pressing climate and environmental topics, this event would serve as a collective platform for all organisations willing to join the call for urgent action, to convene and co-create solutions and make climate action everyone’s business.
If you are ready to join an initiative of this nature or would like to receive updates on ICC’s broader COP26 engagement opportunities, please register your interest using this link.