G20 china_web

Climate change and green finance
65%
Emissions reduction necessary
to limit global warming
2°C
Temperature increase limit
for global warming
The role of business
in climate change
A number of new agreements and initiatives are primed
to help the private and public sector join forces to combat
climate change around the world, writes Peter Bakker
KEY TAKEAWAYS
Industries are transitioning to
low-carbon economies
Scaling up new technologies will
redirect trillions of investment dollars
Financiers and governments need to
join global initiatives to benefit
The transition to the low-carbon
economy is underway, spurred
by the 2015 Paris Agreement and
the adoption of the Sustainable
Development Goals. Many
countries have already ratified the
Paris Agreement. It could come into
force before 2016 ends.
Smart businesses are not waiting.
Influential global companies have begun
taking advantage of the opportunities.
These include using renewable energy,
deploying innovative low-carbon
technologies, sustainably sourcing
resources, working on innovative and
transformative solutions and more.
Every area of industry will be affected
by climate change. Because necessity is the
mother of invention, businesses know that
those who can innovate and take advantage
of the low-carbon transition will secure a
sustainable future.
Sustainable development and climate
change are two sides of the same coin.
Business is the world’s most powerful
economic force, responsible for most
spending, wealth creation and investment.
Where business goes, others will follow.
Innovative initiatives from business are
part of the global shift that will open the
floodgates to large-scale opportunities that
can combat climate change and transform
the lives of millions globally. Companies have
a huge opportunity to join these initiatives
and bring their expertise to bear, especially
those in China, which represents more than a
billion people and is hosting this year’s G20.
Working on solutions
The Low Carbon Technology Partnerships
Initiative (LCTPi) is a groundbreaking
collaboration led by the World Business
Council for Sustainable Development to
accelerate the development and deployment
of low-carbon technologies.
More than 150 businesses and 70 nongovernmental
organisations, government
bodies, cities and other partners around
the world are working on solutions to the
challenges affecting low-carbon transport
fuels, forests, energy efficiency in buildings,
renewable energy, low carbon freight,
chemicals, cement and climate-smart
agriculture.
An important outcome of LCTPi is
below50. A global collaboration, it brings
196 G20 China: The Hangzhou Summit • September 2016 G7G20.com