LONDON: June 28, 2016. A report by the New Climate Institute and CDP, formerly the Carbon Disclosure Project, says the business sector could cut CO2 emissions by 10 billion tonnes by 2030 – up from a current commitment of 3.7 billion tonnes.
This is equivalent to what China, the world's largest CO2 emitter, produces annually.
The current business commitment represents over 60 percent of the six billion tonnes cuts in emissions by pledged by all countries at the Paris Climate Agreement last December through their own Nationally Determined Contributions (NDCs).
The CDP says that's the equivalent of taking more than 1000 coal-fired power stations permanently out of use, almost 75 percent of the world's total.
The new report calls on governments across the world to encourage utilities to offer renewable energy contracts and make it easier for businesses to commit to them; help companies build their own renewable electricity installations; support R&D for low carbon technologies; offer grants and capital depreciation to make energy efficiency investments more attractive; and create incentives for buyers and sellers of sustainable products; and reduce the administrative and cost burden of certification for producers, so it's easier for them to produce commodities without deforestation.
Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change (UNFCCC) commented: "A universal climate agreement of nations also needs universal support from the private sector beyond Europe and North America. I would urge committed business to reach out to peers in Africa, Asia and Latin America in order to further seed, catalyze and build action everywhere."
In a related move Cargolux says it is the first airline in the world to be honored with a 'Lean & Green' award from the Dutch Ministry of Infrastructure and Environment for its commitment to improve carbon efficiency by 10 percent within five years. Three other Luxembourg-based companies were also winners: GN Transport, Offergeld and Transalliance (above).
The Lean & Green initiative was started in 2008 to reduce the carbon footprints of companies and today is a leading community for sustainable logistics. Dirk Reich, outgoing president & CEO of Cargolux said: "Our customers and logistics partners, the major forwarders of this world, are well aware of the Lean & Green program and appreciate our efforts. Being Lean & Green certainly gives Cargolux a competitive advantage and underlines our commitment to always deliver the highest service excellence."