Climate Policy Debrief for WBCSD Members COP22 Highlights - High-level policy outcomes and business engagement - UNFCCC meeting, Marrakesh, 7-18 ...
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Climate Policy Debrief for WBCSD Members
COP22 Highlights
-
High-level policy outcomes and business engagement
UNFCCC meeting, Marrakesh, 7-18 November, 2016
1
Table of content
Table of content ............................................................................................................................................. 2
Executive summary ........................................................................................................................................ 3
1. High-level political outcomes ................................................................................................................ 5
2. Assessment of COP22 outcomes according to WBCSD priorities .......................................................10
3. WBCSD key business engagement at COP22 .......................................................................................11
3.1. WBCSD engagement with Ministers and UNFCCC Climate Champions ......................................11
3.2. The Low Emissions Solutions Conference and LCTPis in the global action agenda ....................12
3.3. Focus on energy ...........................................................................................................................13
3.4. Focus on Biofuture platform........................................................................................................13
3.5. Focus on the Cities & Buildings day .............................................................................................14
3.6. Other networking events .............................................................................................................14
4. Next steps & 2017 planning .................................................................................................................15
COP22 closing- WBCSD reactive statement: Marrakesh is sealing new partnerships for global climate
action on the long term ...............................................................................................................................16
Important notification to readers:
This document was prepared by WBCSD Secretariat to inform WBCSD members about the key political
outcomes of the COP22 climate negotiations, and a selection of WBCSD events and business engagement.
A conference call will also take place with the WBCSD Climate Policy Working Group to further consolidate
the analysis and WBCSD policy strategy and activities for 2017. If you would like to join the climate policy
group, please contact:
Elise Buckle, WBCSD Climate Policy Manager (buckle@wbcsd.org, +41 79 278 48 90)
2
Executive summary
The acceleration of the negotiations process
With the early entry into force of the Paris Agreement on November 4th (less than a year after Paris), the
pace of climate negotiations has been accelerated with the CMA1/first meeting of the Parties to the Paris
Agreement taking place at COP22 in Marrakesh.
2018 (instead of 2020) has now been adopted as the key moment for countries to report on progress and
recalibrate their plans in the light of the Paris Agreement, with the key institutional arrangements and
transparency requirements on the “rulebook” to be done by then. The US and China, as co-chairs of the
transparency negotiating group, have asked for a first progress report to be issued as early as 2017.
A strong political signal of shared leadership and global partnership in the spirit of the Paris Agreement
During the two weeks at COP22 we saw a re-energized ‘spirit of Paris’ established and a sense of shared
leadership. On the 17th of November, the Marrakesh Action Proclamation was adopted by 194 Heads of
States, Ministers and Heads of delegations reaffirming the urgency of climate action at a critical moment.
Heads of States and business leaders are also now seriously considering the impacts on flood, drought
and other extreme weather events as climate change is already affecting many countries around the
world. There is now a very strong global commitment to move forward with the Paris Agreement.
Ministers and business leaders showed their resolve and determination to deliver the Paris Agreement
through a variety of statements, initiatives, ratifications and pledges. An increasing number of global
partnerships, - including the NDC partnership involving 30 countries and the 2050 long-term pathway
platform- were announced at COP as a sign of the shift operating towards the implementation phase.
The US, Canada, Mexico, Germany adopted their scenarios for decarbonization of the economy by 2050.
The UK is planning to do the same soon. These are long-term signals and plans to meet the 2°C goal
adopted in Paris.
These partnerships are also being supported by a significant amount of public and private funding. New
announcements were made including US $50 Million of funding through the GEF.
The Paris model of shared leadership between governments, cities, companies and regions is enduring.
The “COP of business” for the global action agenda
The global action agenda has been growing and gaining a tremendous moment, with more than 500 side
events and a major event led by WBCSD for the business community, the Low Emissions Solutions
Conference. This conference was co-hosted by the government of Morocco, ICLEI and SDSN and brought
together more than 100 high-level speakers and 700 participants over the course three days. The event
on Mission Innovation was one of the highlights of the conference with major initiatives being led on
energy-efficiency.
Business leaders from WBCSD member companies also show-cased innovative solutions that can feed into
the NDCs in each of the key sectors such as transport, energy, or climate smart agriculture and increase
the level of ambition of the emissions reduction plans.
One of the key factors of innovation is that price signals are shifting towards low carbon economy with
renewables and low carbon technologies becoming competitive on the global market. The world is moving
ahead with the implementation of the Paris Agreement, China ratified its commitment to climate action
and Saudi Arabia suggested move towards solar energy, and many multinational companies showed
during multiple side events that they are at the fore-front of innovation as a way of building a competitive
3
advantage. The Biofuture platform was also launched by Brazil and many other countries to boost the
development of low carbon fuels including in the aviation sector.
In the end the implementation of the Paris Agreement relies on the business community and on the ability
of the private sector to shift the trillions of investments towards a low carbon economy. Companies and
investors are key implementation partners. The Paris Agreement is not only a government deal, it is also
a private sector deal. The business community owns the outcome and final delivery of the Paris
Agreement and this is why our role is becoming increasingly important in this process. Now more than
ever, we must continue to work together to seize this opportunity to scale up the implementation
of the Paris Agreement and accelerate the transition to the low-carbon future.
Next steps
The next Presidency of the COP will be Fiji and the COP23 meeting will be hosted by the UNFCCC in Bonn.
Looking to 2017, it is crucial that business leaders and governments use all the key events, tools and
platforms at their disposal – G7, FSB task force, G20, NDC partnerships, 2050 plans – for further developing
the implementation of the Paris Agreement.
On the longer-term, the dialogue with governments will remain of critical importance to discuss policies
that will enable the private sector investments needed to deliver the NDCs and 2050 pathways to the low-
carbon economy.
WBCSD will engage with members on the climate policy strategy for 2017 through regular conference calls
and major meetings being planned in Montreux on the 27th to 30th of March and during the LCTPi meeting
in Brussels during the Energy Week (week of June 19 th), and during the WBCSD Council Meeting in Mexico
from the 16th to 18th of October 2017.
4
1. High-level political outcomes
A growing momentum for the Paris Agreement
The major UN climate negotiations of the year took place in Marrakesh over the last two weeks.
After a chaotic start, COP22 ended on a positive note. One clear message emerged: the low-
carbon transition is irreversible, well under way, and countries, business , investors and local
governments alike are eager to reap its benefits in a shared determination to deliver the Paris
Agreement.
The Paris Agreement stands stronger than ever. It has now been ratified by 113 countries
representing more than 77% of global emissions, making it one of the fastest ratification processes in the
history of international relations. Just in the past couple of weeks, 13 more nations from around the
world have joined including the UK, Australia, Pakistan, Japan, Malaysia, Italy and Finland. In
particular, key emitters such as the UK and Australia joined after the US elections, showing that
no single country can make or break the deal.
Photo: Entrance of the COP22 venue in Marrakesh and 197 nation flags
5
The Marrakesh Action Proclamation
On the 17th of November, 196 Heads of States and Head of governments and delegations adopted the
Marrakech Action Proclamation, demonstrating the overwhelming global commitment to climate action.
The call was first proposed before the COP but became particularly poignant given the uncertainty of the
post- US election context which had put the Paris Agreement under a major “stress test”. “We have seen
extraordinary momentum on climate change worldwide, and in many multilateral fora. This momentum
is irreversible – it is driven not only by governments, but by science, business and global action of all types
at all levels”, it says.
The Marrakesh Proclamation was issued by all governments attending Paris, and highlights the speed of
the transition in the real-economy as well as highlighting the urgency of action. The Marrakesh Action
Proclamation also reaffirmed the commitment taken in Copenhagen by developed countries to mobilize
$ 100 billion dollars a year by 2020 which was missing in the Paris Agreement.
CMA1 decision on the 2018 rulebook
Countries have agreed to complete the rulebook for the Paris Agreement by 2018/COP24 (CMA1
Decision). Countries have agreed that the COP Presidencies (COP22 and COP23), informed by
other actors, will convene informal discussions on the 2018 Facilitative Dialogue in May 2017.
2018 is firmly on the map as a moment when countries will take a temperature check on their
Paris plans and finalise the standards which they will all abide by.
COP decision on finance and other financial mechanisms
Ahead of COP22 at the Ministerial Pre-COP in Morocco, developed countries have been working together
to present a ‘roadmap’ which outlines trajectories to meet the $100bn commitment. This roadmap has
just been published here.
Several major financial pledges were also announced at COP:
$50mn was pledged towards Capacity Building
$23mn was pledged for technology
Over $80mn was pledged to the Adaptation Fund.
The Long-Term Finance decision calls on the need for scaled up financing, but does not assume
quantifications.
The private sector is also increasingly discussing the tools that could “shift the trillions” of private sector
investments towards a low carbon economy, building upon the 100 US billion dollars/year of public
funding as well as new reporting tools and requirements developed by the Financial Stability Board and
the G20.
Many countries present at COP highlighted the need to set the right economic incentives. Carbon pricing
mechanisms are also being further developed in many parts of the world including in Mexico, some
6
Provinces of Canada, California and in China where one of the largest carbon markets in the world will be
launched in 2017. Canada is also introducing a federal carbon tax early 2017.
Last but not least, the need to reform fossil fuel subsidies was referenced as one of the top priorities by
the UN Secretary General Ban-Ki-Moon to remove existing price distortions (see also this link and the
brief on FFS for business).
Selection of global partnerships and key initiatives for a low carbon economy
The global partnerships launched in Marrakesh have sent the long-term political and economic signals
that encourage business to invest with more confidence in the low-carbon economy.
The US, Germany, Canada and Mexico have put together their first 2050 long term plans aiming
towards net zero emissions in the second half of the century. COP22 saw the launch of a 2050
Pathways Platform by Climate Champions Laurence Tubiana and Hakima el Haité. Countries
including Canada, Colombia, Costa Rica, Germany, Peru, UK, Marshall Islands, Sweden, EC, USA,
Chile, Norway, Mexico, Italy, New Zealand, Japan, Ethiopia, Switzerland and France have joined
and promised to initiate their own plans. In addition, 15 cities, 17 states and regions, and 196
companies have also joined the initiative. The platform shows the appetite for 2050 plans is
growing by governments; they are catching up with their progressive counterparts from cities
and regions.
Photos: Launch of the 2050 platform, Ministers announcing long-term pathways, Peter Bakker (WBCSD)
Led by the Brazilian Government, Ministers and high-level representatives of Argentina, Canada,
China, Denmark, Egypt, Finland, France, India, Indonesia, Italy, Morocco, Mozambique,
Netherlands, Paraguay, Philippines, Sweden, US, UK and Uruguay have together launched the
BioFuture Platform – a new collective effort to accelerate the development and scale up the
deployment of modern sustainable low-carbon alternatives to fossil based solutions in transport
fuels, industrial processes, chemicals, plastics and other sectors. The BioFuture Platform responds
7
to the urgent need for developing sustainable, immediately scalable solutions to reduce carbon
emissions in the transport sector. Transportation is the sector that has so far been one of the
most challenging for mitigation, and it accounts for around 23% of the world’s energy-related
greenhouse gas emissions.
Mission Innovation continues to gather steam, with Finland and the Netherlands joining at COP22,
taking the total member country count to 23, including the European Union. The member
governments represent more than 80 percent of global clean energy investment, and have
pledged to double their clean energy research and development funding over five years to around
$30 billion (USD) per year in 2021. Also at COP22, Mission Innovation launched seven Innovation
Challenges, aimed at encouraging increased engagement from the global research community,
industry, and investors, while also providing opportunities for new collaborations between Mission
Innovation members. The seven challenge themes are: 1) Smart Grids; 2) Off-Grid Access to
Electricity; 3) Carbon; 4) Sustainable Biofuels; 5) Converting Sunlight; 6) Clean Energy Materials;
7) Affordable Heating and Cooling of Buildings.
Photo: Mission Innovation Ministerial during the Low Emissions Solutions Conference (14 November 2016)
China launched its "10, 100, 1000" South-South Cooperation Initiative, which will be delivered through
the $3bn South-South Climate Cooperation Fund it established in 2015. Through this new initiative, China
will cooperate with developing countries to set up 10 model areas for low carbon, establish 100 carbon
reduction projects and provide capacity-building training to 1,000 people. The announcement is
8
significant because it shows China continuing to take a leadership position on climate change, despite
political uncertainty in the US.
The 48 countries of the Climate Vulnerable Forum representing over 1 billion people adopted the
Marrakech Vision putting a challenge to major emitters to help trigger more ambition ahead of
2020. Importantly, this vision was welcomed by countries like China, France and Germany. The
Climate Vulnerable Forum (CVF) made a major announcement to:
Strive to meet 100% domestic renewable energy production as rapidly as possible while
working to end energy poverty, protect water and food security taking into consideration
national circumstances;
Prepare mid-century low GHG Long Term Strategies before 2020;
Update their NDCs as early as possible before 2020, emphasising additional support is
important to continuing this;
Work towards joining the voluntary actions on Aviation.
The NDC Partnership - a new coalition of more than 30 developing and developed countries and
international institutions working together to ensure countries receive the technical and financial support
- was also launched.
The Kingdom of Morocco, the Food and Agriculture Organization of the United Nations (FAO) and other
partners announced that they are stepping up climate action in agriculture through the Adaptation of
African Agriculture (AAA) initiative and the Global Framework on Water Scarcity.
France provided a €6-million grant to the Africa Development Bank to set up a delivery unit for the African
Renewable Energy Initiative. The African Renewable Energy Initiative aims to achieve 10 gigawatts of new
renewables by 2020 and mobilize the potential to generate 300 gigawatts by 2030.
It has been uplifting to see the continuation of the powerful collaboration and leadership that brought
the Paris Agreement into being.
9
2. Assessment of COP22 outcomes according to WBCSD priorities
+ Marrakesh Action Proclamation adopted by 194 countries sending strong political
signal from the international community
+ Major economies (US, China, Canada, Mexico, Germany) adopting long term
decarbonization pathways and 2050 platform launched
+ Major oil-producing countries such as Saudi Arabia and UAE moving towards
energy diversification, solar and other renewable sources of energy
+ NDC partnership announced and several countries already upscaling NDCs
including Argentina and CVF countries
+ An increasing number of global partnerships and platforms launched at COP
1. Strong policy signals to drive including the Biofuture Platform led by Brazil
low carbon solutions and + Rulebook to be agreed by 2018 for transparency and harmonized timelines and
innovation (mitigation) reporting methods
+ Initial progress report to be prepared as early as 2017
- NDCs that are one the table still lacking concrete content for each of the key
sectors (transport, energy, agriculture, etc) probably until the next iteration in
2018. The aggregate impact of existing NDCs would still take use towards more
than a 3°C increase.
- Global emissions are starting to flatten but the amount of greenhouse gas
emissions already in the atmosphere is creating inertia and we are already at 1.2°C
of global temperature increase, with 2016 being the hottest year on record
+ US $ 100 billion/year adopted in the Marrakesh Action Proclamation
+ An increasing number of platforms supported by both public and private funding
have been announced at COP.
+ More countries and regions using emission trading schemes and/or carbon tax as
economic incentives
+ Fossil fuel subsidies reform referenced by UN SG as key driver of change
2. Scaled up financial resources
to invest in a low carbon future - The COP decision of long-term finance remains vague in terms of quantitative
commitment.
- Lack of clarity on the various financing instruments and how they relate to each
other (GEF, Green Climate Fund, Adaptation Fund). The Adaptation Fund has been
referenced as the main financing instrument for the Paris Agreement but most of
the financial flows don’t go through that fund.
+ COP 22 seen as the “COP of business” with the private sector owning the delivery
of the Paris Agreement through concrete implementation.
+ Low Emissions Solutions Conference referenced as a success and driver of shared
solutions among business, governments, cities, experts and non-state actors.
+ More than 360 companies called US-elected President to stick to the Paris
3. Business leadership Agreement.
+ Strong relationship with the Climate Champions and placeholder for the solutions
conference and strong reference to business engagement in the Marrakesh
Partnership for Global Climate Action
+ LCTPi progress report was launched at COP22 presenting progress of the 8
initiatives since Paris.
103. WBCSD key business engagement at COP22
3.1. WBCSD engagement with Ministers and UNFCCC Climate Champions
The role of business has never been as important as during this COP. The voice of WBCSD was heard in
the UNFCCC plenary sessions of the High-Level Event on the Global Action Agenda, the Ministerial on
climate finance and several other Ministerial roundtables. We met with the Ministers and delegations
from Mexico, Canada, the EU, China, Brazil, Argentina, the USA as well as the Head of the UNFCCC. WBCSD
members took an active and important role in these meetings.
During the conference there was a unified call for strong leadership, sound climate policies, and
effective economic mechanisms, which was reflected in the business declaration we issued in
partnership with We Mean Business to support the climate champions and the global action
agenda.
The Marrakesh Partnership for Global Climate Action which was announced by the climate
champions a few days later echoed our call, providing the platform for business engagement to
scale up innovative solutions and investments in sustainable infrastructures.
Together we made the business case for climate. More than ever we need to demonstrated that climate
action is good for the global economy. WBCSD initiatives go beyond emissions reduction – they define
pathways to sustainable infrastructures, stimulate trillions of dollars of investment, and create jobs for
people in the low-carbon world.
Photos: WBCSD Bilateral meetings with the Minister of Argentina and Jonathan Pershing’s team (US Special Envoy)
113.2. The Low Emissions Solutions Conference and LCTPis in the global action agenda
The Low-Emissions Solutions Conference mobilized leaders from business, government, cities, science and
academia to discuss solutions. It brought together over 700 people, 200 companies, and 100 speakers
over three days, putting innovative technological solutions at the heart of COP22 and the global climate
action agenda. 30 WBCSD companies spoke in the conference putting innovative technological solutions
at the heart of COP22 and the global climate action agenda. The LESC embodied and reinforced the multi-
stakeholder collaboration of business, academic, and government as a key factor of success for the
implementation of Nationally Determined Contributions (NDCs) and long-term decarbonization pathways
(see the full IISD report attached).
Photo: Opening of the LESC with Peter Bakker, Jeffrey Sachs, Paul Polman, Nezha Larhrissi, Gino Van Begin
12Business is the key implementation partner for governments
around the world as they strive to hit their NDC targets to
reduce greenhouse gas emissions. The climate champions
have expressed their strong support and willingness to
provide a similar platform next year at COP23 in Bonn, under
the Presidency of Fiji. Through the Low Carbon Technology
Partnership initiatives, WBCSD is harnessing the power of
more than 150 companies to scale up innovative solutions that
can help deliver up to 65% of the emissions reduction that is
needed. In Marrakech, the first LCTPi report was launched. It
was also agreed that the “rulebook” to monitor progress on
the Paris Agreement will be finalized by 2018 and a global
review of climate action will take place on the basis of the
most up-to-date analysis. We will continue to report the
progress of LCTPi every year until 2018 and beyond.
Photo: Maria Mendiluce presenting LCTPi report
WBCSD Communications made a major effort to support the Low Emissions Solutions Conference with
Felicity Glenny-Holmes being the Master of Ceremony for most of the Conference and Nicolas Jammes
coordinating the press and media work during COP. Key policy statements and outcomes of the LESC have
been posted online on the WBCSD website. You can read the full IISD report here.
3.3. Focus on energy
The Clean Energy session during the LESC highlighted how the energy transition is about achieving the
right mix of different technologies including renewables, nuclear, potentially CCS and how for developing
countries the choice between economic growth and decarbonization can be a tough one.
On the Energy Day, WBCSD’s Renewable Finance report was launched explaining challenges and
opportunities for scaling-up finance for renewable energy. Access to finance remains a critical barrier to
accelerating deployment of renewables and there is a need to engage a broad range of investors to
increase the pool of capital and reduce the cost of capital.
At the World Climate Summit, IRENA, WBCSD, CEM and RE100 organized a Session on Corporate Sourcing
of Renewables. Due to the international nature of the panel including Dalmia Cement and Majid Al
Futtaim, the key message that any corporates can buy renewable power (via PPAs) was delivered
successfully. More information, contact: Mariana Heinrich, heinrich@wbcsd.org .
3.4. Focus on Biofuture platform
On Wednesday, 16th November at COP22, a coalition of 20 countries interested in the clean energy and
the bioeconomy fields announced the launch of the Biofuture Platform, a new collective effort to
13accelerate development and scale up deployment of modern sustainable low-carbon alternatives to fossil
based solutions in transport fuels, industrial processes, chemicals, plastics and other sectors.
The launch event was co-hosted by the governments of Brazil and Morocco, with the presence of ministers
of Argentina, Brazil, Canada, China, Denmark, Egypt, Finland, France, India, Indonesia, Italy, Netherlands,
Morocco, Mozambique, Paraguay, Philippines, Sweden, United Kingdom, United States of America and
Uruguay. This event was also hailed by several international organizations and mechanisms, such as
IRENA, IEA, FAO, and SE4ALL, as well as private sector associations and initiatives such as the WBCSD’s
below50. The endorsement of below50 by 20 nations is a key step and unique opportunity for companies
to work together with governments on creating new innovative partnerships, but also to leverage the
critical mass of below50 to drive global and regional policy engagement on bio-economy, and to develop
clear messages for governments on the implementation of the right economic and regulatory
environment to scale these technologies. “The challenge for transportation is huge: we have to meet the
growing demand while simultaneously reducing emissions. We are all here for the same reason: we need
to transform the transport sector. We need a shared vision. There isn’t a cohesive plan, as of yet, that
addresses climate change through sustainable alternative fuels in transport at a global scale” said Peter
White, COO of WBCSD, at the event highlighting the role of private sector and below50 to address the
challenge of decarbonising transport.
More information, contact: Edgar Galrao, galrao@wbcsd.org
3.5. Focus on the Cities & Buildings day
Our main activity for Energy-Efficient Buildings was at Buildings Day on Nov.10 (and Bill Sisson UTC
reinforced our key messages at the LESC).
On November 10 at the Buildings Day organized by the Global Alliance for Buildings and Construction,
WBCSD announced a significant expansion to its project on energy efficiency in buildings.
WBCSD and its partners launched EEB Amplify, a new phase of the project on energy efficiency in
buildings, which will begin in 2017 and aims to expand to 50 cities by 2020.
WBCSD was proud to announce its partnership in Europe with Climate-KIC; the U.S. Green Building
Council (USGBC) and US Business Council for Sustainable Development (US BCSD) in the USA; and
the Indian Green Building Council (IGBC) in India.
EEB Amplify uses a proven business-led approach methodology to develop and implement action
plans on energy efficiency in buildings. This methodology is set out in the Handbook on creating
dynamic local markets for Energy Efficient Buildings.
Contact: Delphine Garin, garin@wbcsd.orgRoland Hunziker, hunziker@wbcsd.org
3.6. Other networking events
WBCSD and WMB organized a joint dinner on the 15th of November with more than 100 participants from
companies and other stakeholders and received very positive feedback as a key networking opportunity
for members. A cocktail reception sponsored by Solvay and several lunches were also offered during the
Solutions Conference.
144. Next steps & 2017 planning
WBSCD is planning to organize regular conference calls for the climate policy working group and set up
specific working groups on Mitigation (NDC & decarbonization pathways) and Climate finance.
A climate policy meeting will take place in Montreux between the 27th and 30th of March 2017 to agree
on the climate policy strategy as well as key activities and events in 2017. Possible new avenues for policy
engagement in the G20 summit and FSB task force will also be explored.
Discussions on EU climate and energy policies will also take place during the LCTPi meeting in Brussels at
the beginning of the Energy Week (week of the 19th of June 2017).
The WBCSD Council Meeting in Mexico (16-18 October 2017) will also be a key milestone to agree on
WBCSD top messages before COP23 in Bonn.
- END of Report-
Thank you for your active engagement.
We look forward to working with you to make 2017 another successful year of collaboration!
Photo: Maria Mendiluce, Margot Delafoulhouze, Elise Buckle at COP22
15COP22 closing- WBCSD reactive statement: Marrakesh is sealing new
partnerships for global climate action on the long term
“Here in Morocco it has been uplifting to see the continuation of the powerful collaboration and leadership
that brought the Paris Agreement into being. We are seeing strong and long-term political signals that
encourage business to invest with confidence in the low-carbon economy, and we welcome the Marrakesh
Partnership for Global Climate Action that has been set up by the climate champions.
This momentum is irreversible. It is being driven collectively by governments, business, cities and other
non-state actors as all parties come together to accelerate the transition to a sustainable world.
Business is the key implementation partner for governments around the world as they strive to hit their
NDC targets on the pathway towards decarbonization. The most innovative companies are already
delivering the solutions that will define future competitiveness.
Through the Low Carbon Technology Partnership initiatives, WBCSD is harnessing the power of more than
150 companies to scale up innovative solutions that can help deliver up to 65% of the emissions reduction
that is needed. But initiatives like this go beyond emissions reduction – they define pathways to
infrastructure, stimulate trillions of dollars of investment, and create jobs for people in the low-carbon
world. We will continue to report the progress of LCTPi every year at COP.
Now more than ever, we must continue to work together to seize this opportunity to scale up the
implementation of the Paris Agreement and accelerate the transition to the low-carbon economy.”
Peter Bakker, President and CEO of the World Business Council for Sustainable Development (WBCSD)
16You can also read
