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31 Okt 2021

We Mean Business Coalition

778 businesses representing trillions in revenue call on leaders to preserve 1.5°C target at COP26

778 businesses representing US$2.7 trillion in annual revenue and employing 10 million people have called on G20 leaders, urging them to take action to limit average global temperature rise to 1.5°C... [T]here are great opportunities to be harnessed through a carefully managed transition. Our businesses recognize the benefits of climate action. The right policy decisions taken today can drive further investments and spur business decisions in favour of climate solutions across G20 countries... Relatedly, climate change impacts are exacerbated by biodiversity loss and environmental degradation, which are themselves accelerated by climate change. It is important for these interlinked and mutually-reinforcing challenges to therefore be addressed in tandem... A harmonized [G20] policy environment... will enable us to collectively decarbonize our value chains... We... call on...G20 Leaders to go all in to keep the... 1.5°C goal within reach by: Strengthening NDCs in line with at least halving global emissions by 2030, and committing to achieve net-zero emissions no later than 2050...; Committing to ending new coal power development and financing immediately... and developing plans to phase out coal-fired power generation... [including through] removing barriers to corporate purchasing of 100% renewable electricity...; Aligning public finance, COVID-19 recovery spending and fiscal policies with a 1.5°C trajectory... Heightened policy ambition from G20 Leaders will enable us to accelerate action together...