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Ramon Laguarta, Chairman and Chief Executive Officer, PepsiCo Inc, says we have to focus on farmers and consumers.

This is what will drive the ecosystem change. There is a need to make the farmer aware of the new techniques and the new ways of doing things. Demonstration farms are proving to be very powerful, he adds, building farms where they have new techniques and farmers can learn from their peers.

"There is a lot of money, start-ups and ingenuity going into fintechs and other fields, but not enough going into agritech. Large companies can play role in - with the public sector - to build innovation hubs to bring innovation and technology to farmers, and this is something they are working on with other companies and organizations and the World Economic Forum."

Feike Sybesma, Honorary Chairman, Royal DSM NV, says more is needed from businesses to get to net-zero. "The private sector, we really need to step up," he said, adding that it can reduce emissions, be more transparent, and embrace well-intentioned policies like carbon pricing.

He says these policies should go together with innovation investment and technology and also with stimulating consumer behaviour.

Ben van Beurden, Chief Executive Officer, Royal Dutch Shell Plc, says, "Nobody in their right mind at the moment denies (climate change) is an issue." He said his company is committed to becoming a net-zero-emissions business by 2050 "or sooner."

He says the big challenge is what does this mean in terms of meaningful action? Many of these are currently along the lines of NDCs - but these can only go so far. They can tackle the power sector (that's 20% of energy demand in the world) and maybe it can tackle personal mobility and homes - but that leaves two thirds of emissions left in the energy system, and this needs to be tackled by businesses collaborating under the auspices of governments.

"In my mind we need to have a sectorial approach, sector by sector of the economy, where suppliers and users of energy come together to figure out how they're going to get their sector to net zero. That is going to be an even bigger challenge than getting a country to net zero."

Oliver Bäte, Chief Executive Officer of Allianz says we need to look at regulation - the current framework disincentivizes companies from helping with the transition - particularly on the equity side. But it's not an excuse.

He speaks about the importance of a harmonized reporting framework and concludes "yes we have bankable projects, but there's a lot more to be done".

ABB Robotics has enabled organizations to respond quickly, flexibly and safely to this pandemic around the world, from automating the lab testing of Covid-19 samples, to the production of protective equipment.

In one stand-out example from last year, US-based customer, Boyce Technologies was able to repurpose its entire production line and start mass production of FDA-approved ventilators within a month – a process that usually takes a year – helping to address the critical shortage of medical respiratory equipment in their home state of New York.

This was only possible through the partnership of smart robotics and people, with their creativity and problem-solving skills.

Geraldine Matchett of Royal DSM says that farmers need to earn more when they produce food that is sustainable. "If we want to change the food system farmers need to be better off when they do the right thing."

Matchett also highlights the importance of consumers and says that consumers need to have the choice and need to have the option to buy healthy food.

Matchett made the point that different regions have different preferences and also face different challenges. However, she said that consumers need to have the option to make healthy choices when it comes to food.

KPMG today published its first global environmental, social and governance (ESG) plan. Our Impact Plan brings together new and existing ESG commitments under one umbrella, focusing on four important categories: Planet, People, Prosperity and Governance.

The plan also catalogues current data across the global organization and reports against metrics outlined in a report created by the World Economic Forum (WEF) and drafted in consultation with its International Business Council (IBC), titled Measuring Stakeholder Capitalism, which KPMG had a key role in shaping.

Hak Cheol Shin, CEO of LG Chem said that a year and a half after announcing his company's goal of net-zero: “I can feel we now have a pathway to get there by 2050”.

And he offered three words of advice to other company leaders: “commit, operationalize, and engage”: CEOs must commit to net-zero as a personal priority, operationalize that by setting milestone and action plans, and engage with others.

“Leadership commitment is the only way to make it happen,” he said, adding that "[CEOs'] passion and commitment become contagious."

Christian Mumenthaler, CEO of Swiss Re, said the idea of companies serving a wider group than just its shareholders was no novelty outside of the US and that in Asia it has long been considered the norm.

Over the last two years all big company boards talk to him about ESG (environmental, social and governance aspects of business performance) as a top priority.

“I really feel we are at a tipping point in terms of action.”

He also said that as no one knows how their company can achieve net-zero by 2050: “you need a leap of faith”.

And he stressed the need to develop technologies to extract CO2 from the atmosphere, saying that is a sector that needs to become as big as the oil and gas sector has been.

The Forum published a letter calling on the private sector to commit to net-zero emissions across all emissions scopes by 2050 or sooner. "Let us make 2021—the 6th year since the signing of the Paris Agreement—a year for unparalleled global climate action."

The letter is signed by

Klaus Schwab, Chairman, World Economic Forum

Brian Moynihan, Chairman and CEO, Bank of America

Christian Mumenthaler, CEO, Swiss Re, Co-Chair to the Alliance of CEO Climate Leaders

Jesper Brodin, CEO, Ingka Group I IKEA, Co-Chair to the Alliance of CEO Climate Leaders

Feike Sijbesma, Honorary Chairman of Royal DSM, Co-Chair to the Alliance of CEO Climate Leaders, Member of World Economic Forum Board of Trustees

Rich Lesser, CEO, BCG, Chief Advisor to the Alliance of CEO Climate Leaders

The Forum's Alliance of CEO Climate Leaders, its flagship community of currently 83 CEOs believes the private sector has a responsibility to actively engage in global efforts to reduce greenhouse gas emissions, and to help lead the global transition to a low-carbon, climate-resilient economy.