The world is facing a climate emergency with an irreversible impact on natural systems, as a consequence of sustaining our growing demands. Entering 2021, when the world continues to be confronted with the pandemic that has been wreaking havoc over the lives of people, deepening inequalities, disrupting the supply chain and whatnot – ultimately playing a part in undoing the progress that the world have had achieved on the sustainable development goals.
Therefore, having suffered from such times, the need for collaborative efforts of all the stakeholders in order to ‘build a coalition for carbon neutrality’ has increased for achieving an equitable and sustainable world.
After completing five years into the adoption of the Paris Agreement, it has been observed that the private sector has a vital role to play. More and more businesses are raising ambition in alignment with climate science and prioritizing climate action.
Achieving Net-Zero Emissions
To lead the way for climate change, it has become imperative for businesses to demonstrate that their business practices are on a reliable path to net-zero emissions. And, to reach the goals set by Sustainable Development Goals and the Paris Agreement, along with reducing global emissions by 2030, we require Government and corporate leaders and stakeholders everywhere across the world to work together, thus, accelerating climate action.
However, despite several pledges from thousands of organizations worldwide and the Paris Agreement, the world is still on track to experience an increased global temperature which might exceeding the 1.5 °C thresholds.
This is why it is important to have a robust climate action platform that will bring together strategy development supported by implementation guidance and assessment tools, supporting large and small companies to ensure their success in addressing climate action targets and sustainability globally.
Here, a collaborative and robust climate action platform would prove to be of great support for businesses and primary stakeholders achieving climate resilience and mitigation. Moreover, the major focus of climate action platform will be driving climate ambition and building on past under the pathways to low-carbon and robust development and business ambition for the climate.
Reasons for Developing a Robust Climate Action Platform
- Such platforms can help businesses in reaching climate and sustainability goals. This is possible with the help of unique strategic planning as well as implementation partnership.
- Climate action platforms will help organizations align technology with the behaviour towards carbon neutrality via a science-based, holistic, and best practice approach. It aims to narrow down or close the gap between the current contributions stakeholders have made to the Paris agreement. This is necessary to achieve the target of net-zero emissions and limit the global temperature to 1.5 °C
- Assist companies who are under increasing pressure from legislators, analysts, consumers, and employees to reduce their climate change risk.
- The climate action platform will support the Race to Zero, further taking up the business ambition of reducing emissions to 1.5 °C by supporting businesses to take actions in their supply chains and operations.
- The climate action platform will also closely coordinate with stakeholders and related efforts to support the Race to Resilience.
- Moreover, the climate action platform will help with decarbonization strategy development, budgeting and forecasting. In addition to portfolio risk management, goal setting and road mapping. Additionally, identification and implementation of energy efficiency’s platform, supply chain engagement and solutions and much more.
Inclusive of a Number of Activities
Building Alliances
The climate action platform will help build alliances of leading companies that commit to strengthening corporate goals and offering effective support to climate action targets and the Paris Agreement.
Shaping Leading Guidance and Tools
The leading guidance and tools of climate action platforms will help close the gap between the current status in regard to climate change actions and what is required to achieve in order to limit global temperature to 1.5 °C.
Mobilizing Climate Action and Demonstrating Leadership
The climate action platform will help grow business ambition for a 1.5 °C target. It will also recognise the companies committed to achieving ambitious climate action targets.
Despite efforts, there remains a large gap between action and ambition. Climate action platform will synergize the collaborative and coordinate efforts to fill this gap. This will enable stakeholders to set, measure and achieve innovative strategies while impacting the bottom line positively.
