Achieving climate and development goals without the full backing of business and investors is not possible. Fortunately, evidence shows that more and more businesses and investors are taking a lead – and saving costs and making money in the process.
November 2016
Achieving climate and development goals without the full backing of business and investors is not possible. Fortunately, evidence shows that more and more businesses and investors are taking a lead – and saving costs and making money in the process. While the private sector is hugely diverse and different sectors have different contributions to climate change and opportunities to take action, a growing number of businesses have shown that reducing greenhouse gas emissions can be linked to significant cost savings and benefits without adverse impact on overall profits or performance. Indeed, there is evidence that such actions can lead to overall improvements in corporate profitability. At the same time, the emergence of new technologies and the growth of climate policy around the world have created a global market in low-carbon goods and services with a value of around US$5.5 trillion – larger than the global pharmaceutical industry. Thus, although many businesses remain powerful opponents of climate-related policies, it is unsurprising that many others are now leading the charge for climate action.
Working Papers
