Page 11 - AsiaElec Week 43 2021
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AsiaElec RENEWABLES AsiaElec
CEOs urge governments to meet 1bn
tonne reduction target by 2030
GLOBAL A list of 91 corporate CEOs have signed an open policy roadmaps and interim targets.
letter to world leaders committing themselves to Governments must also ensure that devel-
meeting the Paris Agreement’s climate change oped countries meet and exceed their $100bn
targets and to reduce emissions by more than commitment to support developing countries’
1bn tonnes per year (tpy) by 2030. efforts to mitigate and adapt to climate change.
The Alliance of CEO Climate Leaders said They must also ensure the major development
that the COP26 conference in November was finance institutions (DFIs) also commit to sci-
the best chance to agree on the steps needed to ence-based guidelines across their lending
put us on a 1.5 °C pathway. portfolios.
The CEOs said they stood ready to work side The letter also stressed that all the signatories
by side with governments in a joint public-pri- were from companies that had already commit-
vate effort to accelerate the race to net-zero. ted to set or had already set Paris-aligned targets
The letter, published by the World Economic across their value chains, which would mitigate
Forum, stressed that although governments over 1bn tonnes of emissions annually by 2030.
representing over 60% of the world’s green- The letter identified three key areas for action.
house gas (GHG) emitters are now committed The first was eliminating fossil fuel subsidies,
to net-zero emissions goals, only 12% of emis- cutting tariffs on climate-friendly goods, devel-
sions are addressed by sector-specific policies oping market-based, meaningful and broadly
and regulations. accepted carbon pricing mechanisms and tak-
The group of CEOs called on world leaders ing adequate measures to ensure a just transition.
to take the unique opportunity COP26 presents The second area is the scaling-up of key tech-
and do more together to create a better world for nologies, as governments can make the differ-
people today and for generations to come. ence to help enlarge and accelerate the transition,
The group includes major consulting, tech- including through effective and harmonised laws
nology and banking names, as well as renewable and regulations that enable a speedy deployment
developers such as Ørsted, Iberdrola, Siemens, of key technologies.
Schneider Electric and Vestas. The third area was investment in climate
“We should use the COP26 in Glasgow as our adaptation in order to create resilient cities,
best chance to agree the steps that are required supply chains and infrastructure by building
to halve greenhouse gas emissions by 2030, up natural disaster defences and risk-transfer
reach net-zero emissions by 2050 and build solutions.
nature-positive economies,” said the letter. The Alliance also encouraged all business
The CEOs also called on governments to leaders to set (science-based) targets to halve
publish ambitious and 1.5°C-aligned Nationally emissions by 2030 and reach net-zero by 2050
Determined Contributions (NDCs) that at least with a clear roadmap on how to get there as well
halve global emissions by 2030 and commit to as to provide transparency on emissions and
global net-zero by 2050, underpinned by robust their financial impact.
Week 43 27•October•2021 www. NEWSBASE .com P11
