All business delegates are invited to join the ICC organised Business and Industry Daily Briefings that aim to facilitate business participation at the event. The briefings will take place on 17-27 June (every day except Sunday) from 09:00-10:00 at the World Conference Center Bonn in the AH Lower Conference Room.
Business is essential to climate policy
Business participation in climate change discussions is essential when it comes to informed policymaking. Ahead of COP25, which will take place in Santiago, Chile from 2-13 December 2019, the ICC Road to COP25 highlights some key challenges and recommendations to address the climate emergency, including:
- Keeping climate change high on the political agenda and providing the short and long-term policy coherence required to stimulate investments in a low-carbon economy.
- Raising the ambition of NDC targets to meet the goals of the Paris Agreement and foster global efforts to reach net greenhouse gas (GHG) neutrality as soon as possible in light of the Intergovernmental Panel on Climate Change (IPCC) Special Report on Global Warming of 1.5°C.
- Prioritising the design of mechanisms, including through national public finance instruments, to de-risk flows of private capital into climate change adaptation and mitigation investment opportunities, particularly in developing countries.
- Ensuring that climate change policy considers how the transition to a low carbon future will affect employment and communities and include a just transition of the workforce and decent jobs in the Nationally Determined Contributions (NDCs).
- Building a clear and transparent framework for the implementation of Article 6 of the Paris Agreement.
ICC Climate Action
More than ever before, business is taking the lead on setting ambitious climate goals. At ICC’s Centenary Summit on 28 May, ICC issued a Declaration, setting out a vision to shape the future of global business for the next century. The Declaration includes an endorsement of the IPCC Special Report on Global Warming of 1.5°C and commits ICC to work towards mobilising business behind the 1.5°C target and net-zero emissions by 2050.
In line with this commitment, ICC is undertaking a number of efforts to help bolster climate action by business. One such action is the Chambers Climate Coalition which was launched at the 11th World Chambers Congress in Rio de Janeiro this week. By signing the pledge, chamber leaders around the world commit to take bold climate action.
ICC Secretary General, John W.H. Denton AO, also joined a broad coalition of business, civil society and UN leaders today to issue a call to action for private companies to make their critical and necessary contribution to reducing greenhouse gas emissions to limit the worst impacts of climate change.
Delegates from more than 190 countries are meeting in Bonn this week to continue negotiations over the implementation of Article 6 of the Paris Agreement which provides a policy foundation for trading in emissions reductions between states, a critical element for business in the drive to achieve net zero emissions by the second half of the century.
ICC and the International Emissions Trading Association (IETA) are among the signatories of a declaration on the need to promote robust accounting rules for international carbon markets, released at COP24.
“The declaration is more relevant than ever, in light of the COP24 outcome, and we urge Parties to work constructively to ensure a good outcome at COP25 in Santiago,” said Majda Dabaghi, ICC Director of Inclusive and Green Growth.