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Industry heads back acceleration of race to net-zero

The CEOs of Danfoss, GEA, Trane and Johnson Controls are co-signees of an open letter to world leaders at COP26 calling for an acceleration of the race to net-zero.

The heads of more than 90 of the largest multinational organisations, all members of the Alliance of CEO Climate Leaders, say they are committed to reducing emissions by more than 1Gt annually by 2030. They also say that they believe that businesses can do more if world leaders reach agreement at COP26 that would put us on a 1.5°C pathway.

Amongst those signing the document are Kim Fausing of Danfoss, David S Regnery of Trane Technologies, George R Oliver of Johnson Controls International and Stefan Klebert of the GEA Group.

The CEO Climate Alliance proposes governments publish ambitious and 1.5°C-aligned contributions that at least halve global emissions by 2030 and commit to global net-zero by 2050, underpinned by robust policy roadmaps and interim targets. It also calls for the elimination of fossil fuel subsidies and a cut in tariffs on climate-friendly goods.

Other suggestions include support and incentives for first-movers and the development of new technologies, alongside Investment in climate adaptation policies.

“It is time for governments to create a sustainable future for all. Businesses stand ready to support and boost investments – but we need action from policymakers and greater ambition if we are to achieve net-zero emissions by 2050,” commented Danfoss CEO Kim Fausing.

“I want to remind everyone that energy efficiency is the fastest and cheapest way to kick-start our collective efforts to reach the goals of the Paris Agreement,” he added.

Part of the World Economic Forum, the Alliance of CEO Climate Leaders was founded in 2014 to support an ambitious Paris Agreement and bold corporate climate action.

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