This report hopes to offer a practical response to the COP27 president’s challenge for the climate agenda to move away from launching pledges and toward project implementation at scale. It sets out a menu of specific interventions for accelerating the global decarbonization of business, involving business leadership with closer government collaboration to sharpen accountability, raise ambition and deliver action at speed and scale. Collectively, these interventions with business can radically advance the international climate change agenda in the next five years.
In the report, leading businesses put forward proposals and policy ideas to raise the ambition level, scale up action in systems transformation and most importantly, move beyond mere commitments and targets to create a holistic corporate climate accountability system that will show the progress business is making against its net-zero targets, as well as crystallize the contribution of business in the delivery of Nationally Determined Contributions (NDCs).
The report was developed in collaboration with over 30 leading WBCSD member companies through a consultative process from June through October 2022. The companies that participated are engaged in high-ambition climate action both within their organizations and through many partnerships and coalitions with other key stakeholders.