World Summit of Governments launches report on 5 high-impact actions to achieve carbon neutrality

He World Government Summit (WGS) has launched a report titled ‘Net Zero: The Countdown Has Begun’, which explores the challenges of global warming and outlines five key high-impact actions to drive decarbonisation efforts, along with the UAE’s preparations to host the United Nations. Conference of the Parties on Climate Change (COP28).

The report, presented in collaboration with “Arthur D. Little”, recalls the magnitude of the climate emergency and the collective action so far to reduce global CO2 emissions. As the 1.5 degrees Celsius target becomes increasingly out of reach, the report warns that the world has less than 400 billion tonnes of carbon dioxide equivalent left to spend by 2050.

Developed with global companies as examples, the five high-impact actions that organizations can take to advance the decarbonization process, as detailed in the report, are:

• Driving a bold net zero transformation: Continuously review the scope of the emissions target, execute an integrated and technological transformation program for the entire company and take stock of decarbonization progress on a regular basis.
• Address emissions reductions and capture growth opportunities: Explore sources of future profits resulting from the energy transition while reducing own emissions, work with clients to discover growth opportunities, look for ways to leverage technology and innovation, and pursue new business models.
• Putting people at the center of the net zero transformation: Focus on upskilling/reskilling the current workforce, developing a focused talent development strategy, and nurturing/onboarding new talent.
• Ensure the supply chain stays up to date: Collaborate within and across siled organizational boundaries to anticipate and bring together supply chain initiatives that need to be implemented to kick-start important decarbonization projects.
• Take stakeholders along the journey: Work with different stakeholders to develop a common understanding of the plan and action, and engage funding organizations to find innovative solutions to the pressing funding challenges of net zero emissions programs.

The report also highlights that 70 countries, representing 90 percent of global GDP and 76 percent of total emissions, had committed to reaching net zero, and that the world can expect COP28 to produce real results, not only good intentions.

Mohamed Yousef Al Sharhan, Managing Director of the World Government Summit Organizationconfirmed the importance of partnerships and collaboration between governments, the private sector and international organizations to achieve sustainable development goals, accelerate responses to the work required to implement available solutions to the challenges of climate change and global warming, and achieve the specified goal of achieving net-zero global emissions in less than three decades.

He added,

“As an international platform for the future, to share knowledge and ideas, shape future challenges and design innovative solutions, the WGS collaborates with its partners around the world to chart the course of action necessary to address the major environmental challenges that will shadow the future. future. of humanity, guaranteeing a sustainable environment for future generations.”

Commenting on the topic, Adnan Merhaba, Partner and Energy and Utilities Practice Leader at Arthur D. Little Middle Eastsaying,

“Now is the time for corporate leaders to deliver on their promise of net zero emissions while pursuing green, sustainable growth. “This report aims to support these leaders on that journey.”

To support organizations on the path to decarbonisation, ‘Net Zero: The Countdown Has Begun’ takes a sector-by-sector approach, analyzing transformation challenges and opportunities within four key sectors: utilities, industry, transport and oil and gas. gas.

In addition to providing practical insights on technology options, leadership and strategy implementation, the report draws on real-world examples from global companies such as ARAMCO, DHL, Shell, Engie, Siemens, Schneider and more.

News source: Emirates News Agency