“It’s time to tip the scales”. This is the goal of Mission 2025, a new international coalition of private and public actors. It brings together large companies such as Unilever, Ikea, Iberdrola, coalitions of committed companies such as We mean Business, but also mayors, governors and investors, with the support of Christiana Figueres, one of the architects of the Paris Agreement, co-founder of Global Optimism.
The aim is to push states around the world to keep their promise and present more ambitious climate commitments (known as NDCs, nationally determined contributions) by February 2025, for the period up to 2035, in line with what is provided for in the Paris Agreement. “We know this can unlock trillions in private investment to protect our nature, develop cheap renewable energy, help industries compete in a low-carbon economy and ensure fair standards of living for our population”, they write.
Refuting the arguments against the transition
Tipping the balance in favour of climate action now seems imperative as many companies and states abandon their targets. Last April, Scotland officially abandoned its target of reducing its greenhouse gas emissions by 75% by 2030 compared to 1990 levels because it was deemed “out of reach”. On the corporate side, Shell in March removed its climate targets for 2035 and lowered those for 2030, while Bank of America went back on its promise not to finance new coal mines or new power plants. Unilever, which is part of Mission 2025, has reduced its commitments to reducing the use of virgin plastic and establishing a decent wage for all direct suppliers.
A few months ago, the Science Based Target Initiative (SBTi), a global reference framework for validating companies’ climate objectives, cleaned up its database. Result: 29% of companies have not had their objectives validated. Among the main obstacles cited by companies, more than 54% believe that Scope 3 (indirect emissions) is “too challenging” and the same proportion as ““Future technology is too uncertain”. In the United States, there is also a movement of banks and insurance companies withdrawing from Net Zero coalitions. After multiple departures, the Insurance Carbon Neutrality Alliance (NZIA) was dissolved and replaced by the Forum for Insurance Transition to Net Zero (FIT), a broader and less restrictive organization.
“Today’s launch of Mission 2025 is a clear refutation of all those who claim that it is too difficult, too unpopular or too costly to act more quickly to tackle the climate crisis.”, said Christiana Figueres. Faced with these defections, the Mission 2025 coalition prefers to brandish the 55 largest global multinationals, with a combined annual turnover of more than $4.4 trillion, which have published transition plans aligned with a 1.5° scenario. vs. Or the $31 trillion, or more than two-thirds of the annual revenues of the world’s largest companies, which are now aligned with the net-zero emissions target, up 45% over two years, according to data from the Energy & Climate Intelligence Unit, an independent climate think tank.
Three times more ambition
A new analysis from the Energy Transitions Commission (ETC) further shows that the falling costs of low-carbon technologies (wind, solar, etc.) and the lifting of technological blockages mean that governments’ climate plans could be at least three times more ambitious than existing versions, and could place us under the 2°C warming markAs a reminder, the latest NDCs (NDC 2.0) lead us towards a warming of between 2.4 and 3°C.
The ETC recommends that the next NDCs (NDC 3.0) define clear and detailed roadmaps such as, for example, quantitative targets for renewable energies, dates for phasing out bans on the sale of gasoline or diesel-powered vehicles . But also measurable and comprehensive targets, covering all sectors and all greenhouse gases, for emissions reductions, as well as investment plans, particularly for emerging markets, clearly indicating the financing needed to achieve the declared objectives.
According to a global survey published on June 20 by the United Nations Development Programme (UNDP), 80% of the world’s inhabitants – 75,000 people in 6 countries were questioned – want stronger climate commitments from their governments in the face of the impacts of climate change.Climate change is upon us, and people know it“, commented Cassie Flynn, UNDP climate manager. Last week, according to the Washington Post, the world broke 1,400 temperature records. More than 1,000 people died on the Hajj pilgrimage to Mecca, while 100 million people were under heat alerts in the United States.
