CDP presented the Report called “Accelerating Corporate Climate Action: The role of Policy” at COP25 on December 10, 2019.
Here are key messages of the report and some recommendations to policymakers:
- Policy, both current and anticipated, is a major driver of actions taken by companies to manage climate change impacts;
- The costs of managing policy-related risks are lower than the potential financial impacts for the majority of industries;
- Policy can create financial opportunities, by driving demand for products & services and revealing cost savings;
- Policy uncertainty is a risk, but the anticipation of policy is a powerful opportunity driver.
- Policy makers should submit enhanced Nationally Determined Contributions (NDCs) by 2020, that are in line with the Paris Agreement’s goals, and are consistent with long term strategies and national policies.
- Policy makers shpuld ensure a conducive policy environment for globally standardized climate-related disclosure, mandating, where appropriate, the adoption of the recommendations of the Taskforce for Climate-related Finance Disclosure (TCFD).
- Policy makers should set a price on carbon that is consistent with achieving the Paris Agreement’s goals, as per the work of the High-Level Commission on Carbon Prices.
Please click here to reach the report.