Ahead of the 2024 UN Climate Change Conference (COP29), more than 100 CEOs and senior executives from the Alliance of CEO Climate Leaders have issued an open letter to global policymakers. Representing $4 trillion in revenue and employing 12 million people across 12 industries, the Alliance calls for urgent action to bridge the gap in emissions reduction needed to meet the Paris Agreement targets. Between 2019 and 2022, the group reduced emissions by 10%, while growing their collective revenues by 18%.
The letter emphasises the need for bold policies and transformative action to limit global warming to 1.5°C and reduce the projected emissions shortfall of 600 gigatonnes by 2050. Released by the World Economic Forum, the letter advocates for greater collaboration between governments and businesses to accelerate climate efforts.
The Alliance welcomes COP28’s pledges on renewable energy and energy efficiency, but stresses the need to eliminate obstacles to implementation, such as outdated permitting frameworks and complex policies. Among their key recommendations are upgrading Nationally Determined Contributions (NDCs), scaling up climate finance from billions to trillions, and ensuring the energy transition is both just and orderly.
In a call to their peers, the CEOs urged fellow business leaders to prioritise net-zero strategies and decarbonise their supply chains through innovation, investment, and collaboration. The letter concludes with a powerful message: the time for combined, coordinated action is now, as every fraction of a degree in warming counts in the race to avoid climate catastrophe.
Signatories include Jesper Brodin , Chief Executive Officer, Ingka Group (IKEA); Julie Sweet, Chair and Chief Executive Officer, Accenture; Christoph Schweizer, Chief Executive Officer, Boston Consulting Group; Joe Ucuzoglu, Global Chief Executive Officer, Deloitte; Tobias Meyer, Chief Executive Officer, DHL Group; Daniel Ervér, Chief Executive Officer, H&M Group; Miljan Gutovic, Chief Executive Officer, Holcim; Mads Nipper, Chief Executive Officer, Ørsted; Toshiaki Higashihara, Executive Chairman, Hitachi Ltd. And more.