Two years after the groundbreaking adoption of the Paris Agreement (December 12th, 2015) South Pole together with a broad alliance of 54 global companies from all continents and a broad range of industries calls for ambitious climate action as a basis for future economic success. In a joint declaration, South Pole and the other signatory businesses particularly address the twenty most industrialized countries accounting for 74% of the global emissions to use the G20 as a forum to come up with concrete long-term measures to accelerate the global decarbonization while inviting other countries to join efforts. Measures include a phase-out of fossil fuel subsidies by 2025, an adequate price on carbon and clarity on climate-related financial risks.
In the statement, the companies call for framework conditions that lay the foundation for a pathway towards limiting global temperature rise to well below 2° Celsius and allow them to actively contribute to the implementation of the Paris Agreement. They argue that a low-carbon development will secure jobs and prosperity, kicking off a new wave of innovation and entrepreneurship. The undersigned companies represent more than 1.9 million employees worldwide and total revenues of more than 676 billion €, equivalent to a fourth of the GDP of France and more than twice of Denmark's GDP.
The business coalition also addresses Heads of States who gather tomorrow at the “One Planet Summit" in Paris. They call on governments to keep up the momentum of the Paris Agreement when developing and implementing long-term decarbonization strategies. At the same time, the signatory businesses reaffirm their deep commitment to proactively tackling climate change in their own activities and policies, and take into account frameworks supporting business climate action such as internal carbon prices, TCFD implementation in their own reporting, as well as science-based targets.
“Climate change-related risks can already be quantified, and have become tangible enough to back real business decisions. The most urgent task for governments is to create the rules and regulations under which low-carbon business and innovation can thrive," says Renat Heuberger, CEO South Pole. “We need to put a price on carbon and let companies find the smartest, most cost-effective ways to cut emissions."
“With this statement, businesses send a strong signal to world leaders that they are ready to do their part to achieve a low-carbon economy in line with the Paris Agreement," says Sabine Nallinger, Managing Director of the German Foundation 2° that initiated the statement. “The companies make clear that the global decarbonization is already taking place and will need to be accelerated. Those who stay on top of this trend will shape the transformation and benefit most from the value creation in a future low-carbon economy," Nallinger continues.
Contact Nadia Kahkonen, Head of Communications, South Pole, for further information on South Pole's commitment to a low-carbon economy.