Nearly 100 of the world’s leading cities
have developed a climate action plan compatible with the goals of the Paris Agreement in alignment with C40’s Cities Climate Transition Framework.
Catherine McKenna, Chair of the UN’s High-Level Expert Group (HLEG) on Net-Zero Emissions Commitments of Non-State Actors, delivered her “Integrity Matters: The Hard Work is Now” report to the UN Secretary-General atthe COP 29 conference, on Thursday.
This report responds to a request from the UN Secretary General António Guterres to
provide an update on the progress made by business, investors, cities and regions in
implementing the recommendations set out in the 2022 Integrity Matters report forcredible net zero commitments.
“The leaders highlighted in this review show that high-integrity net zero can be achieved. It’s no longer credible for companies, investors, cities and regions to claim that moving faster on the climate crisis is too difficult or expensive. However, to meet the 1.5C Paris Agreement target, we need a much broader range of companies, investors, cities, and regions
to build on these examples and produce high-integrity transitions plans in 2025″ McKenna said.
The report also refers to information from Net Zero Tracker, that 1,145 of the largest 2,000 public listed companies in the world have voluntary net zero commitments, an increase of 23% since June 2023, with a marked rise in Asia.
However, only a small percentage of those targets and plans are aligned with the criteria set out in Integrity Matters.
In particular, the report identifies a severe lack of voluntary commitments to phase out fossil fuels.
“Climate change is accelerating and the clean energy transition isinevitable. Business, investors, cities and regions have the tools to act decisively already andthey should work with national governments to achieve the Paris Agreement goals. Every fraction of a degree matters and every tonne of CO2 makes a difference. We must do the hard
work now, or we will all face the consequences tomorrow” McKenna concluded.