Businesses encourage climate negotiators to increase ambition

- Climate change mitigation creates significant business opportunities, because the decarbonization of industry, transport and energy production entails enormous investments and new innovations, says Jouni Keronen, Executive Director of Climate Leadership Coalition (CLC), a network of leading companies, universities and cities.

It is the responsibility of legislators to create an operating environment that encourages climate action. In Katowice nationally determined contributions and their capacity to meet the requirements set in the Paris agreement will be under review.

- It is already clear that current contributions are not even close to sufficient. According to the IPCC report published this autumn even the goals set in the Paris agreement are not enough, but we need to aim for a maximum temperature increase of 1.5 degrees, Mr Keronen points out.

This summer leading Nordic companies published an appeal for more ambitious EU climate policy. The appeal calls for a target year for carbon neutrality, a binding EU carbon budget and adjusting mid-term emission reduction targets. The appeal has been signed by more than 70 Nordic companies and organizations already, including the Confederation of Finnish Industries.

- Businesses are very clear on what they want: stricter long-term goals and clearer measures to reduce emissions. These will help push forward a market for emission-reducing solutions and create a predictable investment horizon, Mr Keronen says.

Yesterday, the European Commission presented its strategic long-term vision for a prosperous, modern, competitive and climate-neutral economy by 2050. The transition is projected to stimulate growth and jobs, with beneficial GDP impacts up to two percent by 2050.

- This is a very promising proposal, says Mr Keronen.

- We wish Finland’s and EU’s negotiators gumption and a tough negotiating attitude in Katowice!

Climate Leadership Coalition will participate in the UN climate conference as an observer. CLC will be represented by Executive Director Jouni Keronen, Development Director Kaisa Hernberg, Chief Economist Timo Tyrväinen, Expert Sari Siitonen and two representatives from member organizations.