Corporate climate action has stepped up over the past decade, but the world is not yet on track to meet the goals of the Paris Agreement. Policy and regulation can play a vital role in accelerating companies’ efforts. CDP has analyzed climate-related information disclosed by some of the world’s biggest companies, and, based on these insights, provided recommendations to policymakers, financial regulators and supervisors on what actions to take to accelerate the transition to a low-carbon economy.
Recommendations for policy-makers include:
- Submit enhanced Nationally Determined Contributions (NDCs) by 2020, that are in line with the Paris Agreement’s goals, and are consistent with long term strategies and national policies.
- Ensure a conducive policy environment for globally standardized climate-related disclosure, mandating, where appropriate, the adoption of the recommendations of the Taskforce for Climate-related Finance Disclosure (TCFD).
- Set a price on carbon that is consistent with achieving the Paris Agreement’s goals, as per the work of the High-Level Commission on Carbon Prices.