As the world races against time to cut carbon emissions and transition to a green economy, corporations, businesses, institutions and investors are working towards setting science-based emission reduction targets and joining initiatives focused on a decarbonised economy.
The call for that inclusive and resilient global economy is particularly amplified at the ongoing UN Conference of Parties climate change meeting, COP26, which is uniting the world around a joint approach at tackling climate change. This comes at a critical time when researchers and scientists have rung the alarm on the unprecedented rise in greenhouse gas emissions. This alarm has been further echoed by top global leaders like UN Secretary General António Guterres who has described it as ‘Code Red for Humanity’.
As the world keeps tabs of governments’ commitments to the Paris Agreement, it is heartwarming to see initiatives like the United Nations-supported Race to Zero campaign for climate action taking steam. Indeed it is billed as the largest alliance by players outside national governments to achieve net-zero carbon emissions by 2050 at the latest.
Among the commitments under the drive include the decarbonisation of global transportation systems, investment in e-mobility, carbon pricing, greening the world grid and ensuring an equitable energy transition.
These initiatives are quite ambitious but implementable if the world speaks in one voice and frequently focuses on reviewing the implementation of the various commitments.
But most importantly, in ensuring that no one is left behind, the initiative must accommodate the voices of all global constituencies by having innovative and climate-smart policies that ensure that businesses take direct responsibility for cutting down emissions, governments walk the talk in climate commitments and the most vulnerable populations are protected from the aggravated changes in weather.
A global net zero economy is possible if we translate word to deed.
Photo by Valeriy Kryukov