As we crowd into Glasgow for Cop26, expectations are sky high for world leaders to show that they understand the urgency of the climate crisis and have plans to deliver real action to meet the Paris Agreement goals of holding temperature rises to well below 2C and preferably to 1.5C.
To the credit of the UK presidency, we are making progress. The goal of holding temperature increases to 1.5C has been turned into a trackable landing zone requiring net zero global emissions by 2050. Almost all the major economies are now setting net zero targets, albeit with different target dates.
Alongside the core negotiations are important “deals” to be announced on accelerated coal phaseout, funding for forest protection, and more rapid electric vehicle adoption. Private finance has been corralled by the former Bank of England governor Mark Carney to commit trillions to the transition. And the giant security queue outside the SEC shows just how popular Cop has become as climate concern goes mainstream.
But the structure of this and every Cop means that we are trying to beat the climate crisis with only half the team on the pitch.
There is no formal place for the business sector in the core Cop process, partly due to the historic structure of the UN process, and partly because in some government and NGO circles, business is seen ideologically as part of the problem, not the solution. It is utterly illogical that global energy companies have been “de-platformed” at this Cop, while fossil-fuel dependent national governments are welcome at the negotiation table.
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Yet the private sector accounts for most of the world’s greenhouse gas emissions and in recent years many companies have demonstrated a level of ambition and action to reach net zero (or in some cases to go further and commit to be carbon negative, contributing to climate recovery) that outstrips almost all governments.
Moreover, every major decarbonisation decision – from cutting methane emissions to building greener electricity grids – needs close public-private sector collaboration to be effective. Governments can’t and won’t regulate the world to a low carbon future.
In its Business Manifesto for Climate Recovery published today, the World Business Council for Sustainable Development (WBCSD) sets out 12 key action priorities for climate recovery. Each has detailed business actions and policy requirements needed to accelerate climate action and plans for public-private co-operation to accelerate ambition and action.
And the manifesto also calls for a new global framework of corporate determined contributions (CDCs), to be presented alongside governmental nationally determined contributions (NDCs), at upcoming Cops to capture business delivery against decarbonisation targets.
If we are to stand a chance of holding temperature rises to 1.5C, we need to make the annual Cops inclusive for all.
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We need to recognise the crucial role of public-private collaboration to deliver results. And we need to include everyone in the process, and not exclude by ideology or design, the businesses who need to be on the team in our collective fight for a low carbon future.
Claire O’Neill is former energy and clean growth minister and senior adviser at World Business Council for Sustainable Development
