Naturally active for the climate

27 October 2017

Leading European companies contribute to the implementation of the Paris Agreement

Action against climate change has become embedded in the European business agenda, demonstrates this report. Released ahead of the international climate negotiations at COP23 in Bonn, the report illustrates how 30 leading multinational companies are adapting their business strategies to incorporate climate action and contribute to the implementation of the Paris Agreement.  

Low-carbon investment and innovation can only thrive with a globally competitive European industry that is able to deliver the solutions for a successful low-carbon transition.

Svein Richard Brandtzaeg
President and CEO of Norsk Hydro, and Chairman of the ERT Energy and Climate Change Working Group

The EU has to take a leadership role in global climate diplomacy with a view to safeguarding a global level playing field across sectors and across geographies. This includes building trust and openness through global common metrics for monitoring, reporting and verification.

It is vital that all signatories of the Paris Agreement keep to their commitment and put in place policies, such as carbon pricing, to reach the agreement’s objectives. However, carbon pricing alone is unlikely to trigger the required levels of low-carbon investment. Climate policy should evolve towards a holistic approach that encompasses demand-side initiatives to ensure the systematic mobilisation of all actors across value chains.