Global Compact International Yearbook 2017

The Global
Momentum
BeContinued
Must
By Paul Simpson
The Paris Agreement and the Sustainable Development Goals
(SDGs) have provided a new framework for the low-carbon
transformation as governments, cities, companies, and investors
drive changes in moving toward a truly sustainable
economy. These international agreements – unprecedented
though they were – are now behind us. The year 2017, the
time for ambitious Paris commitments to be put into practice,
has brought its own turbulence.
There is significant global action on tackling climate change,
and the transition to a sustainable economy is inevitable,
irreversible, and underway. We must keep this momentum.
Curtailing climate change needs urgent, consistent implementation
of policies and practices that will keep the temperature
rise well below 2°C. We know the risks and we have the goals.
We must continue unabated the unprecedented collaboration
between governments and non-state actors that has made these
achievements possible.
Policy state of play and next steps
In agreeing to limit the temperature rise to well below 2°C
and entrenching climate action, clean energy, and sustainable
economies in the 2030 Agenda, policymakers have set
an essential agenda that governments, cities, companies, and
investors must meet to keep global warming below dangerous
levels. Those agreements have advanced international discussions
in 2017 on climate and energy and laid the foundation
for further collaboration. Policymakers cannot rest, though.
Although Paris and the SDGs mark the beginning of a new
strategy, and global business has demonstrable potential to
help drive this transition, the future requires both sustained
international collaboration as well as national and sub-national
policymaking on practical emissions management.
Consistency and clarity are key. World leaders’ policies must
unambiguously support climate goals, give clear long-term
direction, and stimulate meaningful action across the board.
To mobilize the private sector at the scale needed to achieve
their nationally determined contributions, effective state-level
policy measures are urgently needed.
Effective climate and energy plans, aligned with the Paris
Agreement’s goals, must quickly be developed to drive investment
into low-carbon assets and technologies.
Investors and business groups have, likewise, called on national
governments to lead in developing more meaningful
carbon-pricing platforms and phasing out fossil fuel subsidies.
In launching the world’s largest scheme, China will put a
carbon price somewhere in all major corporations’ supply
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Global Compact International Yearbook 2017