Six Outcomes Leading Businesses Want to See from COP28

The We Mean Business Coalition calls for COP28 to establish clear fossil fuel phase-out deadlines, sector-specific targets, and more ambitious Nationally Determined Contributions (NDCs). The coalition emphasizes the need for increased finance for nature-based solutions, support for small and medium-sized enterprises (SMEs), and global financial system reforms to ensure a just transition.

• Leading businesses are calling for a complete phase-out of unabated fossil fuels and a 50% reduction in emissions by 2030. To achieve this, they propose tripling renewable electricity capacity to at least 11,000 GW and doubling energy efficiency by 2030.
• Government regulation is viewed as a primary driver for the energy transition by 82% of polled business leaders. While nearly 70% of leaders intend to phase out fossil fuels by 2050, they face significant barriers regarding infrastructure and commercial viability.
• There is a significant funding gap for nature-based solutions, which represent 30% of the climate solution but receive only 3% of climate finance. Closing this gap to end nature loss by 2030 requires $350 billion in annual financing.
• The coalition advocates for targeted sectoral action and the implementation of sectoral net zero targets. For example, in the shipping industry, regulation of the 15 ports that handle 80% of global shipping volume is seen as critical for incentivizing investments in low-emission fuels.
• To support a global transition, the coalition seeks reform of the global financial system for developing countries, the creation of a non-state actor accountability framework, and the integration of nature targets within Nationally Determined Contributions (NDCs).

APA

Davies, E. (2023). Six Outcomes Leading Businesses Want to See from COP28. We Mean Business Coalition. https://www.wemeanbusinesscoalition.org/blog/six-outcomes-leading-businesses-want-to-see-from-cop28/

Chicago

Davies, Emma. Six Outcomes Leading Businesses Want to See from COP28. We Mean Business Coalition, 2023. https://www.wemeanbusinesscoalition.org/blog/six-outcomes-leading-businesses-want-to-see-from-cop28/.

Wikipedia

{{cite press release |last1=Davies |first1=Emma |title=Six Outcomes Leading Businesses Want to See from COP28 |publisher=We Mean Business Coalition |date=30 November 2023 |url=https://www.wemeanbusinesscoalition.org/blog/six-outcomes-leading-businesses-want-to-see-from-cop28/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{davies2023six, author = {Davies, Emma}, title = {{Six Outcomes Leading Businesses Want to See from COP28}}, publisher = {We Mean Business Coalition}, year = {2023}, month = nov, url = {https://www.wemeanbusinesscoalition.org/blog/six-outcomes-leading-businesses-want-to-see-from-cop28/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }