A stunning report says bold corporate action, smart policy and low carbon technologies can easily keep global temperature rise below 2°C.
A new report says if all relevant companies signed up to 5 low carbon initiatives, by 2030 the business contribution would amount to around 10bn metric tons of emissions reductions per year.
According to the paper, that’s equivalent of what China, the world’s largest emitter, pumps out annually. The message is riveting; corporate action could shift the planet over halfway to a below 2°C world.
The news is an undeniable call to action. It proves, categorically, that businesses in the UK, by shifting to low carbon, energy efficient measures, would save money and control climate change.
Why is the report so telling?
There are heavyweight partners behind the report; We Mean Business Coalition, CDP and the New Climate Institute.
The partners’ collective goal is to help businesses actively combat climate change. Their report provides the first ever analysis on how firms can hold global temperature increases below 2°C.
If companies worldwide and in the UK commit to the suggested 5 low carbon measures, then by 2030 business will have cut its greenhouse gas emissions by 3.7bn metric tons of CO2 equivalents a year.
Remarkably, that alone is over 60% of the total emissions cuts pledged by countries in the Paris Agreement through their own Nationally Determined Contributions (NDCs). Put another way, it’s the equivalent of taking over 1,000 coal-fired power stations permanently out of use, almost 75% of the world’s total.
The numbers are truly groundbreaking. But what do the actual initiatives call for?
What are the 5 low carbon initiatives to build tomorrow’s world?
The 5 suggested business initiatives include companies setting emission reduction targets based on keeping temperature change below 2°C.
Companies should also commit, over 25 years, to doubling their economic output from each unit of energy; building energy productivity. Further, they should commit to using 100% renewable electricity.
In the fourth aim, firms would commit, by 2020, to using no commodities that cause deforestation.
Finally, as part of the Low Carbon Technology Partnership Initiative (LCTPI) firms would develop and use more low-carbon technology in their industry.
One key element of LCTPI is buildings energy efficiency. We know buildings are the largest energy consumers in the world. They account for around 30% of global carbon emissions, and over one-third of final energy use. This share could double or triple by 2050 if we do not act, as buildings have a long life-cycle that locks in their energy use.
At Energys we are delighted to welcome, and wholly endorse the LCTPI aims, and those of the Business End of Climate Change overall. Our product offering is based on excellence and performance, but also on the fact we know to be true; energy efficiency in buildings must hasten.
Our products can manifest the change LCTPI is calling for; better, greener buildings where people love to work, where carbon is mitigated and where our future planet is defined.
Find out more about our portfolio of green technologies and solutions.
