Every fraction of a degree counts: Time for governments and business to double down on climate action

The Alliance of CEO Climate Leaders, representing $4 trillion in revenue, calls on governments to upgrade Nationally Determined Contributions, scale climate finance for the developing world, remove permitting obstacles for renewables, and support breakthrough mitigation technologies to limit global warming to 1.5°C.

• The Alliance of CEO Climate Leaders, which represents 12 million employees and $4 trillion in revenues, reported a 10% reduction in aggregate emissions between 2019 and 2022, while simultaneously achieving an 18% growth in aggregate revenue.
• The Alliance urges governments to upgrade Nationally Determined Contributions (NDCs) to close an ambition gap, noting that current NDCs only provide for approximately 5% emissions reductions by 2030, compared to the 43% required.
• Climate finance for the developing world is estimated at $5.8-5.9 trillion by 2030 for both mitigation and adaptation. To mobilize private capital, the Alliance recommends expanding carbon pricing (currently covering less than 25% of global emissions), phasing out fossil-fuel subsidies, and increasing concessional and blended finance via multilateral development banks.
• Significant infrastructure and regulatory barriers hinder renewable energy deployment; the capacity of renewables awaiting permits is currently five times higher than installed capacity, and 80 million kilometers of additional green grid are required by 2040.
• Approximately 30% of key mitigation technologies, particularly in agriculture, transport, and materials sectors, still face significant cost disadvantages. The Alliance calls for policies to scale breakthrough technologies such as carbon removals and clean hydrogen to reduce 'green premiums'.
• The Alliance calls on other business leaders to take accountability by setting science-based targets, disclosing progress, and supporting the decarbonization of small and medium-sized enterprises within their value chains.

APA

Leaders, A. O. C. C. (2024). Every fraction of a degree counts: Time for governments and business to double down on climate action. World Economic Forum. https://www.weforum.org/stories/climate-action/alliance-of-ceo-climate-leaders-cop29/

Chicago

Leaders, Alliance of CEO Climate. Every fraction of a degree counts: Time for governments and business to double down on climate action. World Economic Forum, 2024. https://www.weforum.org/stories/climate-action/alliance-of-ceo-climate-leaders-cop29/.

Wikipedia

{{cite press release |last1=Leaders |first1=Alliance of CEO Climate |title=Every fraction of a degree counts: Time for governments and business to double down on climate action |publisher=World Economic Forum |date=10 October 2024 |url=https://www.weforum.org/stories/climate-action/alliance-of-ceo-climate-leaders-cop29/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{leaders2024every, author = {Leaders, Alliance of CEO Climate}, title = {{Every fraction of a degree counts: Time for governments and business to double down on climate action}}, publisher = {World Economic Forum}, year = {2024}, month = oct, url = {https://www.weforum.org/stories/climate-action/alliance-of-ceo-climate-leaders-cop29/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }