September 1, 2020
The 1.5°C Business Playbook
Climate change is already harming societies and the global economy. Evidence shows that humanity is taking grave risks with the stability of the Earth’s life support system if global average surface temperature continues to rise. Reducing this risk means working together to stabilise temperature rise to a maximum of 1.5°C above pre-industrial temperatures.
To achieve the 1.5°C ambition, global greenhouse gas emissions* should peak by 2020 and halve by 2030 to reach net zero by 2050, while at the same time removing some of the carbon already emitted into the atmosphere.1,2 Any delay will increase the risk of dangerous climate change and require even more dramatic reductions. Doing this will require the fastest economic and societal transition in history – but one which is both necessary and achievable, and will bring significant benefits from reduced biodiversity loss and pollution to improved health and economic development.
It is critical to mobilise the entire business sector for the 1.5°C ambition and to halve emissions before 2030. Businesses will contribute in several ways. First, by rapidly reducing their own emissions. Second, by reducing emissions in their value chains. Third, and most importantly, by scaling products, services and projects that enable reduction of emissions or even remove carbon from the atmosphere. Finally, by displaying climate leadership and influencing wider action in society.