Ratcheting carbon goals in 2020 will help unleash business ambition

The We Mean Business Coalition advocates for a 2020 deadline for the first review of global carbon reduction targets, asserting that waiting until 2025 would create excessive uncertainty for business planning and investment. The document highlights the rapid pace of technological change in solar PV, wind power, and electric vehicles as a primary reason for more frequent reviews. It further argues that a 2020 ratchet would signal ambition to investors, helping to leverage $100bn in public climate finance into trillions for climate-smart infrastructure. The text notes that over a hundred global companies have already adopted 'science-based targets' and over fifty influential companies have committed to 100% renewable energy by mid-century or sooner.

• Waiting until 2025 for the first review of global carbon reduction targets would create significant uncertainty for business investment and planning due to the dynamic nature of technology, politics, economics, and consumer behavior.
• Rapid technological advancements in solar PV, wind power, electric vehicles, and electricity storage necessitate a more frequent review of carbon reduction capabilities.
• Setting the first target ratchet in 2020 would encourage private sector investment and help leverage $100bn of public sector climate finance into trillions of dollars for climate-smart infrastructure.
• Corporate climate action is already scaling, with over 100 global companies committing to 'science-based targets' and over 50 influential companies pledging to use 100% renewable energy by mid-century or earlier.
• The World Business Council for Sustainable Business has committed to nine technology platforms capable of reducing carbon emissions by 65%.

APA

Camara, J. (2015). Ratcheting carbon goals in 2020 will help unleash business ambition. We Mean Business Coalition. https://www.wemeanbusinesscoalition.org/blog/ratcheting-carbon-goals-in-2020-will-help-unleash-business-ambition/

Chicago

Camara, Jake. Ratcheting carbon goals in 2020 will help unleash business ambition. We Mean Business Coalition, 2015. https://www.wemeanbusinesscoalition.org/blog/ratcheting-carbon-goals-in-2020-will-help-unleash-business-ambition/.

Wikipedia

{{cite press release |last1=Camara |first1=Jake |title=Ratcheting carbon goals in 2020 will help unleash business ambition |publisher=We Mean Business Coalition |date=2 December 2015 |url=https://www.wemeanbusinesscoalition.org/blog/ratcheting-carbon-goals-in-2020-will-help-unleash-business-ambition/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{camara2015ratcheting, author = {Camara, Jake}, title = {{Ratcheting carbon goals in 2020 will help unleash business ambition}}, publisher = {We Mean Business Coalition}, year = {2015}, month = dec, url = {https://www.wemeanbusinesscoalition.org/blog/ratcheting-carbon-goals-in-2020-will-help-unleash-business-ambition/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }