UN emissions target can be met with new initiative

The analysis, launched by The World Business Council for Sustainable Development (WBCSD), states that 65% of the necessary cuts can be made by the Low Carbon Technology Partnerships initiative, led by the WBCSD. However, it warns that the right policy framework needs to be created by governments around the world for the target to be met.

The LCTPi, made up of over 140 companies and 50 partners, could generate $5tn–$10tn (£3tn–£6tn) of investment into low carbon sectors through to 2030 according to the PwC’s analysis, creating 20-45 million jobs worldwide, whilst also supporting the development of 1.5TW additional renewable energy capacity.

Peter Bakker, president of the WBCSD, a global association of around 200 companies, states that business leaders from around the world are taking action and showing governments their support in tackling the climate challenge.

During a roundtable in London yesterday, Mr Bakker said: “We must keep global warming under the critical 2°C threshold. The ambitions outlined in the LPCTi could deliver up to 65% of the emissions reductions necessary to achieve this.

“However, business cannot do it alone. We can only safeguard the earth's future when business and policymakers act together and we urgently need an ambitious climate agreement in Paris to set the policy framework that will enable us deliver on our mutual goals.”

Global brands, including Shell and Unilever amongst others, have carried out discussions and debates throughout the year to develop nine industry-specific action plans for emissions reductions following the UN’s climate talks in Paris later this month.

The plans encompass low-carbon freight, renewables, carbon capture and storage, energy efficiency in buildings, cement, chemicals, low-carbon transport fuels, climate smart agriculture, and forests.

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