Track 0 has published an update to the feature report, The Business Case for Adopting the Long-term Goal for Net Zero Emissions, highlighting the growing momentum since the World Economic Forum annual meeting held in Davos in January 2015. Increasing numbers of business leaders are stressing the need for Paris to deliver a long-term policy signal in line with science, to guide the direction for business action and investment. A long-term decarbonisation goal will provide overarching guidance to governments on their first and subsequent nationally determined commitments (NDCs), giving business the clear signals they need to make their necessary long-term strategic investment decisions.
This briefing provides a summary of the many companies in all business sectors that have adopted long-term climate action related targets and the positions of the main business coalitions that demand a long-term goal of zero emissions in the 2015 Paris Agreement.
Large companies operating in many geographic regions are decoupling their growth strategies from carbon-based energy. The momentum is coming from companies operating in diverse sectors – Energy, ICT, Retail, Consumer Goods, Financial Services, Automotive and more. These companies are showing that the pathway to a low-carbon economy offers desirable business outcomes – prosperity, innovation and growth – and are incorporating a long-term target into their short-term strategies. According to the CDP report, “Unlocking Ambition And Driving Innovation”, the companies reporting to CDP that have set long-term or science-based targets are not only ensuring their actions are 2ºC compatible, they are also realising stronger returns on their investments than peers, fuelling further action in their sectors and supply chains.