New UN-backed commitments to take action against the damaging effects of climate change, could result in $26 trillion in economic benefits worldwide, and help create 65 million new “low-carbon jobs” by 2030 – the deadline for the realization of the Sustainable Development Goals (SDGs).
Those are some of the opportunities of moving to a low-carbon economy, outlined on September 14, at the close of the Global Climate Action Summit, which took place in San Francisco.
It brought together national, regional and urban leaders from across the world, together with businesses, investors and civil society organizations, in an effort to keep global warming to well-under 2 degrees Celsius, in line with the 2015 Paris Agreement on climate change.
Committing to take “their collective ambition to the next level”, participants focused on five specific areas:
- Healthy Energy Systems: An alliance of more than 60 states, regional and city governments pledged to 100 percent zero-emission targets, together with 23 multinational corporations with revenue of more than $470 billion.
- Inclusive Economic Growth: 488 companies from 38 countries, adopted emission-reduction goals, in line with the Paris Agreement – 40 percent up on the number last year.
- Sustainable Communities: More than 70 big cities are now committed to carbon neutrality by 2050, representing 450 million citizens.
- Land and Ocean Stewardship: A leaders’ group will head a new alliance linking more than 100 NGOs, pledged to more action on behalf of forest, food and land sustainability.
- The Investor Agenda: brings together nearly 400 investors, managing $32 trillion of assets, who pledged to scale up the flow of capital into climate action, and a more sustainable, low-carbon economy.
The summit issued a formal “Call to Global Climate Action” saying that “now it is the time for all leaders to step up”.
“Only together will we transform our communities and energy systems, create employment opportunities and economic prosperity, protect our oceans and natural environment and complete the transition to a zero-carbon world”.
UN Secretary-General António Guterres said the summit had demonstrated “the vast opportunity afforded by climate action. They are betting on the green because they understand this is the path to prosperity and peace, on a healthy planet.”
“Climate change is undoubtedly the defining issue of our time, and working together across nations, organizations, and communities is the only way that we can tackle this enormous task and seize the huge opportunities,” said the head of UN Environment, Erik Solheim.
Original source: UN News
Published on 16 September 2018