If the world is to achieve net zero carbon emissions by 2050, then we need to cut 30 billion tons of CO2 from our global carbon footprint by no later than 2030. Mission impossible? Not quite. But the private sector is struggling to read and react properly to the poor price signal on greenhouse gas (GHG) emissions being sent by governments. As a result, progress on cutting emissions continues to be slow.
Until governments realise they need to enforce an economic system that places a higher price on good climate behavior, the bad behavior - in the form of climate pollution - will continue, according to a new report by South Pole, called How should the private sector step up climate action?
In this report, South Pole calls on the private sector to scale up climate action. Companies must make the most of all available climate solutions today. This means both avoiding and reducing greenhouse gas emissions within their operations and supply chains, as well as offsetting all remaining emissions, starting immediately.