Report finds business initiatives for climate action are increasing & tracking contributions can help fill gaps

Author: UN Global Compact, Published on: 18 November 2016

"Business Contribution to Global Climate Action: Pathways to Low-Carbon and Resilient Development," 17 Nov 2016

This Status Report presents a first attempt at assessing the contribution of key business initiatives to achieving the goals of the Paris Agreement and the 2030 Agenda for Sustainable Development…A myriad of businesses and investor groups have started to join a range of private sector-focused climate action initiatives that also support sustainable development…The potential collective impact of the initiatives on emissions is substantial…An enhanced procedure to track and communicate on progress, while respecting the voluntary nature of the initiatives, would be hugely beneficial in allowing stakeholders to better understand the contributions thatinitiatives are making…While this report identifies early signs of encouraging progress, much more needs to be done. The report identifies a number of gaps in the coverage of initiatives…Moving forward, the task is to build on these encouraging early signs to ensure that the business and investor community…can scale up their role and help deliver on the ambitious goals agreed upon by the international community…

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