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Article

16 Jul 2015

Author:
Nicolette Bartlett, Cambridge Institute for Sustainability leadership, on BusinessGreen

6 steps for business to achieve economic growth & carbon emissions reduction targets

"What can businesses learn from the New Climate Economy report?", 7 Jul 2015

Today’s Global Commission on the Economy and Climate’s New Climate Economy (NCE) report…makes the clear case for collaboration for innovation achieving both economic growth and closure of the emissions gap...Here are six practical points for business: Organisations should adopt and seek to achieve short- and long-term emissions reduction targets…Sectors and value chains should agree to market transformation roadmaps commensurate with the long-term decarbonisation of the economy…Common standards for measuring, reporting and verifying emissions should be adopted by companies, with results incorporated into integrated financial reports…Businesses should work to ensure their representative groups and trade associations do not seek to block action on climate change, and speak out when they do…Regulators and shareholders should require companies and financial institutions to disclose critical carbon and environmental, social and governance factors, incorporating them in risk analysis, business models and investment decision-making…The finance sector should increase long-term ownership and financing practices, and improve its capacity to facilitate the decarbonisation of the global economy…What’s more, fewer than 10 per cent of businesses with climate targets have long-term goals in line with a 2°C trajectory…