Around 79 investors and company chiefs have managed $41 trillion, and they have had calls on Thursday to world leaders to take action on climate change by reinforcing progressive policies in areas that involve carbon pricing.
The Alliance of CEO Climate Leaders asked for ”bold action” in their open letter to every government to meet upcoming emissions targets.
In order for the action to become more effective, governments had to switch the rules of the game, by also involving a market-based carbon pricing mechanism.
According to the CEOs of Boston Consulting Group Rich Lesser, Royal DSM’s Feike Sijbesma, and Swiss Re’s Christian Mumenthaler, ”Credible” decarbonization targets are something which all countries should force their businesses to do, along with the disclose emissions.
Fossil fuel subsidies was something that the head chiefs also eliminated, as well as cuts on tariffs for climate-friendly goods, and an increase in research and development investing for green technologies.
A statements by 457 investors alerted the government that countries that take the lead are to become ”increasingly attractive” destinations for investments, whereas laggards would be at a competitive advantage.
Stronger emissions reduction is something that the countries have committed to work on 2030, as well as apply the necessary domestic policies by 2050 which help become net zero.
“Strong policies, in line with limiting global warming to no more than 1.5-degrees Celsius, can accelerate and scale up private capital flows towards the net-zero transition,” stated the 2021 Global Investor Statement to Governments on the Climate Crisis.
The Alliance of CEO Climate Leaders was founded back in 2014 and hosted by the World Economic Forum, and their objective is to assist the transition to a low-carbon economy.
Additionally, countries had to surpass their $100 billion devotion to assist developing countries reduce and adapt to climate change as well to make sure that the development finance bodies are dedicated to science-based targets in their portfolios.