WHY BUSINESSES SHOULD SUPPORT THE FOSSIL FUEL NON-PROLIFERATION TREATY

The briefing advocates for business support of the Fossil Fuel Non-Proliferation Treaty, asserting that a global mechanism to phase out coal, oil, and gas is essential to avoid overshooting 1.5°C. It highlights that current government production plans exceed 1.5°C limits and that existing reserves alone would result in seven times the emissions allowed by the remaining carbon budget. For businesses, supporting the treaty is presented as a way to reduce physical and transitional risks, unlock renewable energy investment, provide integrity to net zero pledges, and improve corporate reputation among employees and stakeholders.

• Current fossil fuel reserves and government production plans are incompatible with the 1.5°C climate target; extracting existing reserves would produce seven times the emissions the remaining carbon budget allows, and governments plan to produce more than double the coal, oil, and gas consistent with a 1.5°C world.
• The proposed Fossil Fuel Non-Proliferation Treaty is intended as an international mechanism to complement the Paris Agreement by phasing out coal, oil, and gas while managing a global just transition.
• Businesses face increasing pressure to show climate leadership due to factors such as mandatory climate disclosure, scrutiny of net zero pledges, climate litigation, and the use of climate criteria for accessing finance.
• Supporting the treaty offers businesses several strategic advantages: reducing physical and transitional risks (such as stranded assets), fostering investment in renewable energy and economic diversification, providing a global mechanism to ensure the integrity of net zero commitments, and enhancing reputation with stakeholders.
• The treaty proposal has received endorsement from various entities, including the nation states of Vanuatu and Tuvalu, the World Health Organisation, the European Parliament, and over 80 cities and subnational governments such as London, Paris, and New York (LA).

APA

Fossil Fuel Non-Proliferation Treaty Initiative (2023). WHY BUSINESSES SHOULD SUPPORT THE FOSSIL FUEL NON-PROLIFERATION TREATY. https://www.fossilfueltreaty.org/s/WhyBusinessesShouldSupportFossilFuelTreaty.pdf

Chicago

Fossil Fuel Non-Proliferation Treaty Initiative. WHY BUSINESSES SHOULD SUPPORT THE FOSSIL FUEL NON-PROLIFERATION TREATY. 2023. https://www.fossilfueltreaty.org/s/WhyBusinessesShouldSupportFossilFuelTreaty.pdf.

Wikipedia

{{cite report |author=Fossil Fuel Non-Proliferation Treaty Initiative |title=WHY BUSINESSES SHOULD SUPPORT THE FOSSIL FUEL NON-PROLIFERATION TREATY |date=May 2023 |url=https://www.fossilfueltreaty.org/s/WhyBusinessesShouldSupportFossilFuelTreaty.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{fossilfuelnonproliferationtreatyinitiative2023why, author = {{Fossil Fuel Non-Proliferation Treaty Initiative}}, title = {{WHY BUSINESSES SHOULD SUPPORT THE FOSSIL FUEL NON-PROLIFERATION TREATY}}, institution = {Fossil Fuel Non-Proliferation Treaty Initiative}, year = {2023}, month = may, url = {https://www.fossilfueltreaty.org/s/WhyBusinessesShouldSupportFossilFuelTreaty.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }