EMBARGOED UNTIL 00.01 BST, THURSDAY, SEPTEMBER 30, 2021
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EMBARGOED UNTIL 00.01 BST, THURSDAY, SEPTEMBER 30, 2021
Dear G20 Leaders,
The world is at a pivotal moment. The latest science warns us that the impacts of climate
change are greater and more far reaching than previously understood, and that the window of
opportunity to remain within the Paris Agreement’s 1.5°C temperature goal is quickly narrowing.
We see devastating evidence of this all around us. Extreme weather events around the world
must be a wake up signal to us all that there is no time to lose.
At the same time, there are great opportunities to be harnessed through a carefully managed
transition. Our businesses recognize the benefits of climate action. The right policy decisions
taken today can drive further investments and spur business decisions in favour of climate
solutions across G20 countries. We can build stronger, just, and more resilient economies:
bringing prosperity and creating decent jobs while protecting health and the planet.
Relatedly, climate change impacts are exacerbated by biodiversity loss and environmental
degradation, which are themselves accelerated by climate change. It is important for these
interlinked and mutually-reinforcing challenges to therefore be addressed in tandem, through
policies to build a nature-positive economy and reverse nature loss by 2030.
Many of our businesses have operations spanning multiple G20 countries. A harmonized policy
environment across the G20 will enable us to collectively decarbonize our value chains,
products and services, while supporting our shared climate and sustainable development goals.
Governments can stimulate greater investments and reduce the risk of stranded assets through
communicating clear and credible plans, setting consistent policies and implementing support
measures for 1.5°C-aligned sustainable development across all sectors of the economy.
Representing approximately 90% of global GDP and almost 80% of global trade and
greenhouse gas (GHG) emissions, the G20 has a unique collective responsibility, and
opportunity, to demonstrate global leadership to decisively address climate change while
leaving no-one behind.
We, the undersigned businesses, call on you as G20 Leaders to go all in to keep the Paris
Agreement’s 1.5°C goal within reach by:
• Strengthening NDCs in line with at least halving global emissions by 2030, and
committing to achieve net-zero emissions no later than 2050. We urge you to publish
long-term strategies, detailing pathways to 2030 and 2050 as soon as possible.
• Committing to ending new coal power development and financing immediately, and
developing plans to phase out coal-fired power generation by 2030 for advanced
economies, and 2040 for other countries, while promoting electrification of transport and
uptake of renewable energy across sectors. This should include removing barriers toEMBARGOED UNTIL 00.01 BST, THURSDAY, SEPTEMBER 30, 2021
corporate purchasing of 100% renewable electricity to enable companies to go quicker in
their clean energy transition and invest more than policy currently allows in many
jurisdictions.
• Aligning public finance, COVID-19 recovery spending and fiscal policies with a 1.5°C
trajectory, while ensuring adequate support for adaptation and resilience measures.
Important measures include:
o Delivering on existing public climate finance commitments such as the US$100
billion for developing countries. Adequate levels of international public climate
finance can contribute to developing new markets for private finance by
stimulating investments in support of climate-resilient green infrastructure and
nature-based solutions.
o Ensuring appropriate pricing signals by removing fossil fuel subsidies ideally by
2025, and putting a meaningful price on carbon that reflects the full costs of
climate change as part of a broader mix of policy instruments to support clean
technology investments and innovation.
o Making climate-related financial disclosure of risks, opportunities and impacts
mandatory for corporations, to increase transparency and support better
informed pricing and capital allocation to encourage investment flows towards
more sustainable activities.
Businesses like ours across the world are setting ambitious science-based targets, investing in
climate solutions and disclosing progress towards reducing emissions. We are acting. But
collectively we can do more within the right enabling environments. Heightened policy ambition
from G20 Leaders will enable us to accelerate action together.
We stand ready to work with you, and to support you on the path to sustainable economic
growth and shared prosperity.
Signed by,
NB: Large Enterprises and Multinational Corporations listed in bold.
2030 Builders
20/20 Insights
2050 Consulting AB
22 Designs
27 Films Production GmbH
5T Sports Group
600 strategy
ABANCA Corporación Bancaria SAEMBARGOED UNTIL 00.01 BST, THURSDAY, SEPTEMBER 30, 2021 ABDI IBRAHIM ILAC SAN. VE TIC. AŞ. Abora Accelerated Success Accenture ACCIONA Acea Spa achristie.com ACS Clothing ad fontes Gruppe Adobe Inc. AEON Co., Ltd. AESTECH PC AffecTeam SL agil8 Ltd AI Shading Airway Medical Ltd Akinci Danismanlik Hizmetleri Ltd Sti Akiş GYO AŞ ALENER alinea consulting LLP All Good Allbirds Allianz SE Alter Eco Amazing Support Ames Europe Tekstil Sanayi ve Ticaret A.Ş. Amicus Solar Cooperative Amschela
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