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Monday, April 15, 2024

All hands on deck for net zero emissions–UN climate expert

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By Lorenz S. Marasigan

@lorenzmarasigan

Nations will fail to achieve their climate goals if power and energy companies are indifferent in committing to net zero emissions, a United Nations official said on Thursday.

During the Conference of the Electricity Power Supply Industry (CEPSI), UN Compact Executive Director Sanda Ojiambo challenged the private sector to “use your influence for good” and help in the battle against the “terrifying impact of climate change.”

“National climate goals will never be met if business doesn’t play part. Public and private sectors must reinforce each other. Government policies adopt clarity and market confidence for Asian companies are critical to drive business action and to incentivize companies to move towards net zero,” she said.

She said the world may be able to achieve a 1.5-degree future, if “all hands are on deck.”

“A rapid move towards renewable energy requires local governments, unions, and the private sector to get involved, supporting affected communities and people by generating green jobs. A just transition is an integral part for people-centered climate action and will benefit sustainable long-term growth,” she said.

As companies and all sectors work to halve global emissions by 2030, Ojiambo said, they must simultaneously ensure that there will be positive impacts for their employees and their communities.

“One positive impact is the opportunity for green jobs, and according to the International Labor Union, 25 million jobs can be created in a green transition with a loss of only 7 million,” Ojiambo added.

She explained that the recent UN Climate Change Conference (COP26), the UN Global Compact, together with the ILO and the International Trade Union Confederation, launched a think lab on just transition to partner with businesses and shape thought leadership in this area.

“For Asian companies, technology transfer and finance are essential to achieve a just transition. To future proof businesses and protect communities, it is also essential for the private sector to work with governments on climate resilience solutions and infrastructure,” she said.

Read full article on BusinessMirror

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