Five things that will be top of the agenda at the COP23 climate summit
After a year of hurricanes, soaring temperatures and wildfires, what are the key topics of discussion at this year's UN Climate Change Conference?
The Paris Agreement has generated irreversible momentum on climate action, despite the US administration’s stated intention to withdraw. Many cities, states, businesses and investors understand the risks associated with climate change and see the benefits of taking action. The scale and pace of change need to rapidly increase, however. To achieve this, and in line with the requirements of the Paris Agreement, it is critical that countries step up their efforts to implement smart policies and incentives that can drive the low-carbon transition.
The World Economic Forum Climate Initiative will use the Forum’s global platform and convening power to help raise ambition and spur greater and faster climate action. Specifically, it will bolster efforts by public and private stakeholders to address policy challenges, shift the investment landscape and develop new business models and technologies to accelerate the transition. It will also leverage the growing opportunities provided by the Fourth Industrial Revolution to help realize the full potential of these technologies.
The Climate Initiative works closely with two important groups to drive progress on climate action:
Friends of Climate Action: To ensure coordination with the broader climate action agenda, the Climate Initiative facilitates the Friends of Climate Action, a multistakeholder platform that brings together a range of organizations working with non-state actors to collaborate and share knowledge to help deliver stronger and enhanced global climate action. The platform was initiated in early 2015 at the request of the French COP21 Presidency, to facilitate coordination within the community of non-state actors and increase the momentum on climate action delivery. It now gathers stakeholders representing more than 50 organizations from the climate action community that want to work together to increase ambition by 2020.
Alliance of CEO Climate Leaders: a global network of chief executive officers who believe that the private sector has a responsibility to cut emissions and help lead the transition to a low-carbon and climate-resilient economy. The group represents business leaders from diverse industry sectors and regions who use their position and influence to drive change.
In 2017, chief executive officers publicly supported the recommendations of the Financial Stability Board Task Force on Climate-related Financial Disclosures (TCFD). In a public statement released in April 2017, they highlighted that enhanced disclosure will enable better assessment of financial stability implications and help support an orderly transition to a low-carbon economy. They also restated their commitment to the Paris Agreement by joining other non-state actors in the “We Are Still In” campaign in June 2017, and voiced their support for climate action throughout the year.
In 2018, the group will continue to provide leadership to drive climate action in the following priority areas: implementation of the TCFD recommendations, climate-smart agriculture and, transformational business models and multistakeholder partnerships to deliver emission reductions across sectors and value chains.
Current member companies include:
ABB Ltd; Accenture; Acciona; Allianz SE; Arup Group; A.T. Kearney; BASF; Bloomberg LP; BT Group; Capricorn Investment Group; Carlsberg A/S; Danfoss A/S; Dana Gas PJSC; Deutsche Post DHL Group; DLA Piper; DONG Energy; Enel Spa; Engie Group; Ericsson; GranBio Investimentos; Gree Electric Appliances Inc. of Zuhai; Heineken NV; Hewlett Packard Enterprise; Hindustan Construction Company; Hindustan Powerprojects (Hindustan Power); HSBC Holdings; Iberdrola; IKEA Group; Infosys; ING Group; International Finance Corporation (IFC); International Flavors & Fragrances (IFF); Jindal Steel & Power; Jinko Solar; Johnson Controls; JSW Steel; Kokusai Kogyo Co.; LafargeHolcim; Lenzing; LeasePlan Corporation N.V.; LGT Group; Lloyd’s; Mahindra Group; Marks and Spencer; Microsoft; Munich Re; Nestlé; Pan American Silver; PensionDanmark; PepsiCo Inc.; Philips Lighting; PricewaterhouseCoopers International; Royal DSM; Royal Philips; UC Rusal; Schneider Electric; Shunfeng International Clean Energy Limited; Siemens; Sinar Mas Agribusiness and Food; SOHO China; Solvay SA; Suez; Suntory Holdings; Suzlon Energy Limited; Swiss Re; Syngenta; Tarkett; Tata Sons; Teck Resources; The Dow Chemical Company; Toshiba Corporation; Trina Solar; UBS Group; Unilever; Veolia; Vestas Wind Systems; Visy Industries; Welspun Energy; Wilmar International; Wipro Limited; Yara International.
For more information, please contact Emily Farnworth, Head of Climate Initiatives, at Emily.Farnworth@weforum.org