COP29: ‘Now is the time to accelerate, not back down’ on the path towards net zero
“We need a massive global effort to steer our world onto a safe path; you are ahead…helping consumers, investors and regulators understand what a credible net zero looks like,” speak Secretary General.
As extreme weather causes human tragedy and economic devastation around the world, and as efforts to limit global temperature rise to 1.5 degrees Celsius falter, Mr. Guterres convened a high-level meeting of non-state actors to highlight their actions and strategies since 2022, in line with the key recommendations made in the report he launched at COP27 in Shram-el-Sheikh.
‘The path to safety’
Report, Integrity issueoffers 10 recommendations that serve as a “how to” guide for responsible and credible net zero engagements. They detail what non-State actors need to consider at each stage in the process towards achieving net zero emissions ambitions and tackling the climate crisis.
Simply put, net zero refers to the balance between the amount of greenhouse gases produced and the amount removed from the atmosphere. Achieving this goal requires cooperation between businesses and financial institutions as well as other entities working alongside the government.
UN Secretary-General António Guterres photographed on screen at the COP29 high-level event: Implementation of the report “Integrity Matters” of the High-Level Group of Experts on Entities’ Net Zero Emissions Commitments non-state (HLEG).
‘Go fast, don’t go back’
On Thursday, the Secretary-General thanked non-state actors for leading the global push towards net zero, but said: “Now we need others to follow suit.”
First, he called on all non-State actors to develop strong and responsible transition plans ahead of COP30 next year. Plans must be consistent with limiting global temperature rise to 1.5 degrees Celsius and chart a path to net zero by 2050, through key milestones in 2025, 2030, 2035 and beyond that too.
“They must chart a course to phase out fossil fuels – based on science. They must disclose their lobbying and policy engagement policies. And they must commit to deep decarbonization across the entire value chain,” Mr. Guterres said
He also emphasized that all such plans must not rely on questionable offsets, including for so-called Scope 3 emissions or indirect emissions, such as those due to goods and services. purchases, business trips or waste disposal.
“Now is the time to accelerate, not back down; Time for ambition and transparency. Not greenwashing,” he said.
Work together with governments
Mr. Guterres called for a shift from voluntary commitments to mandatory regulations. “The future of humanity is at stake. Action cannot be optional. Disclosure of credible transition plans consistent with 1.5 degrees should be mandatory for businesses and financial institutions.”
The UN chief also called on businesses, financial institutions, cities, regions, etc. to cooperate with governments on their national climate action plans or NDCs ahead of COP30.
“Helping governments ensure that they deliver policy and regulatory certainty at 1.5[C]-suitable future. We must ensure that governments facilitate the work of other actors in this regard and do not complicate the work of other actors in accordance with regulation 1.5[C] suitable future,” the United Nations head said.
Later in the day, Mr. Guterres is expected to meet with a group of climate scientists and civil society activists, including young climate activists.
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