Research and innovation underline efforts to counter climate change, particularly with businesses growing more interested in the future and low-carbon economy.
Public-private partnerships are expected to be the catalyst for innovation, development and deployment for new low-carbon technology and its distribution to developing countries. This theme needs to cover urbanization, transportation, energy efficiency, housing and land use. The open letter from global CEOs to world leaders urging concrete climate action before COP21 stated the need for a strategic agenda.
The agenda needs to be backed by policies that are consistent and synergistic and under robust monitoring, reporting and verification (MRV) . In this way, business efforts will be complement in order for innovation to be stimulated.
At the same time, the letter calls for collaborative actions to develop and reimagine renewable energy sources, energy efficiency. Putting an end to deforestation and stepping up the efforts to bring low-carbon technologies increasingly in the spotlight are also among the requirements. Research and innovation underline efforts to counter climate change here as well.
One pressing issue is putting renewable energies in the spotlight. It would be ideal for governments to have an energy grid based on an energy mix that is heading towards leaving fossil fuels behind.
In light of the recent events in the energy sector and the falling oil prices, big businesses found a good opportunity to end fuel subsidies and switch to clean energy sources which are visibly gaining momentum. Although there are concerns over such a move, recent studies and analysis are pointing to the fact that consumers’ choices are driving the market economy on a cleaner, more sustainable path.
It is thus necessary to commend global CEOs for the initiative of a Business and Climate Summit that took place in May and discussed the points above. The Summit has been endorsed by the United Nations and business networks as one decisive step forward for a zero carbon emissions future.
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