IPCC report on limiting global warming to 1.5⁰C - Business in the Community comments

In response to today's publication of the IPPC's report on limiting global warming to 1.50C,  Gundrun Cartwright, environment director at Business in the Community, said: 
 
"The IPCC report is a landmark in climate science.  The time for action is now and there is a small window of opportunity to reverse the trend of global warming by moving away from fossil fuels and fast.  With the need to cut emissions by 50% by 2030 and get to net zero carbon by 2050, the risks and opportunities for business are significant.  The report identifies that rapid changes are required in energy, transport and industrial systems in particular.
 
"We know that business is taking climate change seriously.  We're now seeing increasing commitments of the investor community to move out of fossil fuel investments and businesses moving towards 100% renewables.   Science-based targets are at the heart of a growing number of businesses’ approaches and today’s report makes it clear that these targets need to be focused on 1.5 rather than 2⁰C, which means that the goal needs to be zero.  While the target date for a net zero world is 2050, that is an outside limit, rather than a date to aim for.  Faster is better. 
 
"We stand at a crossroads and that our choices now will determine the kind of world that we will leave as our legacy.  Business leaders have unprecedented opportunities to redefine how we create prosperity by developing new products, services and business models that rapidly bring us closer to a zero carbon, resilient world.  Policymakers must be bold and create new rules within which businesses can compete to accelerate the transition and reward companies who are leading the way.  Business must drive change in partnership with suppliers and engage customers to imagine how life could be better, more fulfilling and rewarding through lifestyles that are more in harmony with a one planet economy."
 
 
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Media contact

Katherine Howbrook, head of media and external affairs, Business in the Community, Tel: 020 7566 8737, Mobile: 07515 119 096, Email: katherine.howbrook@bitc.org.uk
 
About Business in the Community
Business in the Community, part of the Prince’s Responsible Business Network, is a business-led membership organisation made up of progressive businesses of all sizes who understand that the prosperity of business and society are mutually dependent. We exist to build healthy communities with successful businesses at their heart.
 
We use our Responsible Business Map to guide members on a journey of continuous improvement, working across the whole responsible business agenda. From community engagement to employment, diversity and the circular economy, we offer expert advice and specialist resources, driving best practice by convening, sharing learning and recognising great performance across our influential network.