"Business will be key driver of global climate action, new research report reveals" 28 Jun 2016

A new research report, ‘The Business End of Climate Change’ launched today at the Business & Climate Summit in London’s Guildhall puts a figure for the first time on what greenhouse gas emissions cuts could be achieved by business worldwide…Business is not waiting until 2030 to play its part. In total, around 300 leading companies have already signed up to the five climate action initiatives that the report analyzes. The report acknowledges that whilst leading companies are already engaged in taking climate action…there remains a long way still to go to achieve the sub 2°C goal agreed by countries in Paris at COP21. The report [found that if] all relevant companies were encouraged to sign up to the five initiatives…business would cut emissions by around 10bn metric tons per year…To achieve this ambitious potential BDC target, government and business must continue to work together to create the right policy and regulatory framework to allow for enhanced climate action...The report calls on governments across the world to:

• encourage utilities to offer renewable energy contracts and make it easier for businesses to commit to them;
  help companies build their own renewable electricity installations;
• support R&D for low carbon technologies;
• offer grants and capital depreciation to make energy efficiency investments more attractive;
• create incentives for buyers and sellers of sustainable products;
• reduce the administrative and cost burden of certification for producers, so it’s easier for them to produce commodities without deforestation.

[Refers to AstraZeneca, CaixaBank (part of La Caixa), IKEA, Kellogg]