Businesses commit to action at COP30 climate talks
BELEM, Brazil—While governments debate over climate commitments, thousands of companies worldwide are realigning operations and supply chains into clean energy investments and infrastructure, showing that early action is good business.
“We need clear signals from the governments to guide our actions by providing the certainty of policies and regulations. Businesses are committed to investing in renewables and energy efficiency. This includes setting ambitious clean energy targets, reforming fossil fuel subsidies that hinder the transition, and ensuring a just transition that benefits all communities, including the most vulnerable,” said Karl Vella, climate policy director at the We Mean Business Coalition.
Significant numbers
The We Mean Business Coalition works with the world’s most influential businesses to take action on climate change. It includes the World Business Council for Sustainable Development, Sustainable Business Network (BSR), Ceres, Climate Group, Corporate Leaders Group Europe, and the B Team.
Over 900 companies, with a combined market capitalization of $17.6 trillion, have committed to the We Mean Business Take Action campaign.
“Scaling-up and replicating initiatives, while addressing local barriers to business investment, is central to our approach. Business participation is strong, with many partner companies showing up significant numbers at the climate talks. Our engagement at the climate talks signals to countries that the private sector is prepared and already taking action,” Vella said.
Vella added that the We Mean Business Coalition has sent a letter to the COP president and governments, signed by more than 130 organizations, calling for a clear roadmap to speed up the shift to clean energy. The letter is backed by major companies such as ACCIONA, Buro Happold, EDF, Fortescue, H&M Group, Ingka Group, Saint-Gobain, Signify, SSAB, SSE plc, Strega, Unilever, Vattenfall, VELUX, and Volvo Cars.
The appeal represents over 100,000 businesses alongside the IIGCC investor group, which represents more than 400 members managing over £50 trillion in assets, and networks such as C40 Cities. It highlighted the growing real-world momentum driving the shift toward sustainable energy solutions.
“A robust, credible roadmap in the real-world would help countries and businesses plan the shift to clean energy, strengthen energy security, and reduce costs for consumers,” the letter said. “Anchoring the roadmap in real-world momentum toward clean energy and electrification would provide much-needed clarity for investment and national implementation.”
Benefiting business
Ligia Ramos, regional lead for Latin America of the Science Based Targets initiative (SBTi) presented their insights from a survey of 171 companies maintaining validated science-based targets over two years, illustrating the advantages of setting such targets and acting to reduce their carbon footprints.
Ramos said SBTi now engages 11,000 companies across the globe with over 40 percent of global capitalization.
“Our report showed that 91 percent of surveyed companies said science-based targets positively affect their organizations. Beyond accelerating climate action, companies also reported benefits for investors confidence, reputation, and overall strategy,” she explained.
“There is growing evidence that decarbonization benefits business, with science-based targets emerging as key steps for companies pursuing credible, impactful net-zero strategies,” she added.
Gonzalo Muñoz, founder of Ambition Loop in Brazil, a coalition that engages the private sector, civil society, and governments, said there is a need to accelerate action by engaging policymakers, businesses, and financial institutions in sustained partnership to eliminate mistrust in addressing climate change.
“The vision is within reach, but only with the right policies, clear signals and strong collaboration. At this critical moment, the power lies not in select sectors but across the private and financial sectors. Let’s base our work on credible, science-backed solutions in fighting climate change that are both feasible and transformative,” Muñoz said.
