Alliance of CEO Climate Leaders share open letter to world leaders for COP28 UN Climate Change Conference

The Alliance of CEO Climate Leaders, representing $4 trillion in revenues, calls on world leaders at COP28 to remove regulatory barriers to renewable energy, phase out fossil fuel subsidies, and harmonize climate disclosure standards to enable private sector decarbonization.

• The Alliance of CEO Climate Leaders, comprising over 100 CEOs and senior executives, represents 12 million employees and $4 trillion in revenues. Members have established individual emission reduction targets estimated to total 1.0 Gt CO2e by 2030.
• Private sector climate action is currently hindered by four primary challenges: lengthy regulatory and administrative processes for renewable energy, inadequate grid infrastructure, technological constraints in scaling early-stage decarbonization solutions, and a lack of interoperability between reporting standards.
• Global investment in renewable energy reached $0.5 trillion in 2022, which the Alliance states is less than one-third of the annual investment required through 2030. Additionally, the International Energy Agency reported that global fossil fuel consumption subsidies hit a record $1 trillion in 2022.
• The Alliance urges governments to use public procurement to drive market demand for low-emitting products, noting that public procurement accounts for 14% of GDP in the EU alone.
• To address the risk of overshooting the 1.5°C target, the Alliance recommends that governments accelerate investments in nature- and technology-based carbon removals by including them in National Biodiversity Strategies and Action Plans (NBSAPs) and nationally determined contributions (NDCs).
• The Alliance calls for the harmonization of climate disclosure and measuring standards across regulators, specifically naming the US Securities and Exchange Commission (SEC), the European Commission, and the International Sustainability Standards Board (ISSB).
• The energy transition is projected to generate an additional 51 million jobs by 2030.

APA

World Economic Forum (2023). Alliance of CEO Climate Leaders share open letter to world leaders for COP28 UN Climate Change Conference. https://www.weforum.org/stories/climate-action/alliance-of-ceo-climate-leaders-open-letter-cop28/

Chicago

World Economic Forum. Alliance of CEO Climate Leaders share open letter to world leaders for COP28 UN Climate Change Conference. 2023. https://www.weforum.org/stories/climate-action/alliance-of-ceo-climate-leaders-open-letter-cop28/.

Wikipedia

{{cite press release |author=World Economic Forum |title=Alliance of CEO Climate Leaders share open letter to world leaders for COP28 UN Climate Change Conference |date=24 October 2023 |url=https://www.weforum.org/stories/climate-action/alliance-of-ceo-climate-leaders-open-letter-cop28/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{worldeconomicforum2023alliance, author = {{World Economic Forum}}, title = {{Alliance of CEO Climate Leaders share open letter to world leaders for COP28 UN Climate Change Conference}}, publisher = {World Economic Forum}, year = {2023}, month = oct, url = {https://www.weforum.org/stories/climate-action/alliance-of-ceo-climate-leaders-open-letter-cop28/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }