The 2015 Paris Climate Agreement was signed by over 200 countries, and aims to limit global warming to 1.5° Celsius above pre-industrial levels and absolutely no more than 2°. (The pre-industrial era refers to the time period before the Industrial Revolution, which started in the late 18th century.)
To achieve this goal, the agreement sets a target of reaching net-zero global greenhouse gas emissions by the second half of this century.
Why 2°?
Scientists have identified 2° Celsius as the threshold beyond which the impacts of climate change are likely to become increasingly severe and potentially irreversible. Keeping global warming significantly below this level is imperative to avoid the worst impacts of climate change, such as more frequent and severe heatwaves, droughts, floods, storms, and sea level rise, which are already having significant social, economic, and environmental consequences.
What’s the timeframe?
According to the Intergovernmental Panel on Climate Change (IPCC), global greenhouse gas emissions need to be cut by around 45% by 2030 and reach net-zero by around 2050 to limit global warming to 1.5° above pre-industrial levels. This means that we have a relatively short amount of time to make significant progress in reducing emissions and transitioning to a more sustainable economy.
The good news is that there is growing momentum and action on climate change, with countries, cities, businesses, and individuals taking steps to reduce emissions and promote sustainability. However, much more needs to be done to meet the Paris Climate Agreement goals and address the climate crisis.
What can your business do to help?
To comply with Paris Agreement goals, companies need to reduce their greenhouse gas emissions and contribute to the overall effort to limit global warming to 1.5° (2° maximum).
Here are some specific actions companies can take to comply with the Paris Agreement goals:
1. Set ambitious emissions reduction targets
Companies should set science-based targets for reducing their greenhouse gas emissions in line with the Paris Agreement goals. This means setting targets that are aligned with the latest climate science and that aim to limit global warming to well below 2°.
2. Transition to renewable energy:
Companies can reduce their emissions by transitioning to renewable energy sources such as solar, wind, and hydro power. This can involve installing on-site renewable energy systems or purchasing renewable energy from third-party suppliers.
3. Improve energy efficiency
Companies can also reduce their emissions by improving the energy efficiency of their buildings, equipment, and processes. This can involve implementing energy-saving technologies, optimising operations, and improving maintenance practices.
4. Adopt sustainable supply chain practices
Companies can also reduce their emissions by working with suppliers to improve the sustainability of their products and services. This can involve setting sustainability standards for suppliers, working with them to reduce emissions and waste, and promoting sustainable practices throughout the supply chain.
5. Engage stakeholders
Companies should communicate and promote their sustainability goals to customers, employees, investors, and communities. This can involve setting up sustainability reporting frameworks, engaging in public policy advocacy, and partnering with NGOs and other organisations.
