Limiting average global warming to 1.5°C requires an enormous transformation of our economy and energy systems. The movement of companies, countries, cities, and investors setting ambitious net zero targets and leading this transformation is building momentum faster than ever. Though progress is being made, climate action must continue to be accelerated and accompanied by efforts to address the various environmental and societal challenges we face. In the UN Global Compact Network UK’s latest Briefing, we explain how businesses can be at the forefront of this growing movement and why it is important to continue raising ambition and take immediate action.
The Science Based Targets initiative (SBTi) has launched a process to develop the first science-based global standard for corporate net-zero target setting, to ensure that companies’ net-zero targets translate into action that is consistent with achieving a net-zero world by no later than 2050. The paper lays out the conceptual foundations for corporate net-zero target setting, including clarity on what it means for companies to reach net-zero emissions, analysis of existing net-zero target setting practices, assessment of strategies that are consistent with achieving a net-zero economy, and initial recommendations for science-based net-zero goals. The conceptual foundations discussed in the paper will be translated into detailed guidelines and criteria to be developed by the initiative as part of a continued multi-stakeholder process.
Financial institutions are the key to unlocking the system-wide change needed to reach net-zero emissions and limit global warming to 1.5°C above pre-industrial temperatures. The Science Based Targets initiative’s new framework allows financial institutions – including banks, investors, insurance companies, pension funds and others – to set science-based targets to align their lending and investment activities with the Paris Agreement.
The Blue Resilience Brief outlines areas where scaling-up joint science-industry action could enhance the resilience of the blue economy and contribute towards a more sustainable future.
The black summer of 2019-2020 has seen the Australian landscape suffer unprecedented destruction. Climate change will continue to dramatically alter our environment, threatening political stability, degrading entire ecosystems, displacing whole communities and undermining business operations. To respond, businesses will need to undergo drastic transformations, embrace emerging economic opportunities and deeply embed principles of sustainability. Businesses no longer have the luxury of time. They must step away from a business as usual approach and reposition themselves as more responsible and sustainably savvy. In 2020, activism will continue to grow globally; lack of trust in both public and private institutions shows no signs of waning; investor pressures on businesses to perform better in matters of ESG will become more pointed; the gap between those that understand business ethics versus those that do not will grow; and the need for business leaders to set bolder human rights and environmental targets will become more pronounced. This report outlines the key pressures facing businesses in 2020, and what companies can do to take advantage of the opportunities presented by the challenges in our landscape to ensure their long-term viability. The opportunity for business to respond and lead the change is clear. How they choose to tackle these major pressures however will be both critical and defining.
A guide to help improve business’ understanding of the rights of people with disabilities, including how to respect, support and give them an opportunity to improve their competitiveness and sustainability in alignment with relevant United Nations (UN) conventions and frameworks.