Businesses need strong climate policy as they aim for net-zero

(Climate Change News, 5 Dec 2019) Comment: Corporate leaders across the world are calling on governments to support their efforts by providing clear, ambitious plans to cut emissions.

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As the UN’s annual climate talks get underway in Madrid, business is watching closely.

Climate change is now a material risk for companies. Extreme weather is affecting supply chains, investors are increasingly scrutinising companies’ plans to minimise climate risk and customers are striving to cut their carbon footprint. 

The businesses that are taking action on climate are helping accelerate the transition to zero-carbon and seizing the opportunities on offer.

They are also standing up to call on governments to set bolder, long-term policies on climate. Earlier this year, in the UK, 120+ businesses called on the UK government to legislate for net-zero, giving the then prime minister Theresa May the confidence to commit to long-term ambition.

This week in Japan 126 companies in sent an open letter to relevant ministers calling Japanese government to raise its ambition to align with the Paris Agreement. 

And in the US 75+ businesses called on congress to pass meaningful climate legislation, including carbon pricing.

Why does business care? Because strong climate policies give companies and their stakeholders the clarity and confidence they need to invest at scale in low-carbon options. In addition, companies with ambitious emissions reduction targets need to be able to decarbonise their value chains – which requires strong policy action to fully decarbonise the economy. private sector.

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Climate Change News, 5 Dec 2019: Businesses need strong climate policy as they aim for net-zero