What does our race to net zero look like 5 years on from the Paris agreement?
Today officially marks 5 years since world leaders from 195 nations came together to sign the landmark Paris Agreement, a historic turning point for global climate action.
Since 2015 we have seen a tectonic shift in the approach to global climate policy, along with a powerful public movement which has helped to shape the 1.5 degree Paris Agreement commitment into ambitious net zero emission targets.
As such, a number of nations have committed to achieving net zero by 2050 or sooner, with Japan’s recent pledge representing a fundamental and significant shift in their coal policy. Meanwhile, a growing list of organisations including tech and oil giants like Apple and BP are also engaging in their own zero emission races. And feeding into this movement lies huge developments in renewable energy, with a new International Energy Agency report showing that renewables will account for almost 90% of the increase in total power capacity worldwide in 2020 (1).
It’s a start, but it’s not enough. It must be backed up by clear national climate plans.
Global CO2 levels and temperatures hit record highs in May 2020 despite the global pandemic (2). This year alone has seen vast deforestation in the Amazon and beyond, melting icebergs, raging wildfires across Australia and California, the list goes on. On top of that, a report suggests countries are projecting a 2% annual increase in fossil fuel production - which by 2030 would result in more than double the production consistent with the 1.5°C limit (3).
The race to net zero is in fact just that. A race. A race against time and against ourselves. Unlike most races, it won’t have one winner. In this race we all win, or we all lose. The UN Climate Change Conference 2021 (COP26) marks the first leg of the race - a follow on from Paris that will set the tone for the next phase of our transition to a decarbonised economy.
As a friend of COP and advisor to the UK government, I’m extremely proud to support the Race to Zero global initiative ahead of the COP26 milestone. The objective? To send governments a resounding signal that businesses, cities, regions and investors are united in meeting the Paris goals and creating a more inclusive and resilient economy.
We’re urging businesses from every corner of the UK and around the world to join us in the #RacetoZero and accompany 120 countries in the largest ever alliance committed to achieving net zero carbon emissions by 2050 at the latest.
Winning the race to zero requires a radical, unprecedented level of collaboration. And your voice matters. Japan and South Korea’s recent commitment to net zero came as a result of intensifying pressure from non-state actors demanding climate action - and that is just one proof point of many.
It’s time to act now.
Whether you’re an individual or a business, find out how you can support the Race to Zero initiative and get involved with the Climate Ambition Alliance here.
