CEOs combine against climate crisis

In the fight against the attack of the triumph, it is necessary to move around 600 Gigaton emissions reduction in collaboration to reach the Paris Agreement targets and limit the global warming with 1.5 degrees. World Economic Forum CEO Climate Leaders Alliance member over 100 CEOs and Senior Manager sent an open letter to the world leaders before 2024 UN Climate Change Conference (COP29). CEO Climate Leaders Alliance represents 4 trillion dollar income and 12 million employees. Alliance members increased their total income in the same period by 18 percent while reducing total emissions from 2019-2022. The main message in the letter is: “We call our branches to show leadership and accountability in carbonate by determining science-based goals, explaining progress and developing frameworks and consistent climate pass plans with standards. Business world leaders promote advanced climate technologies to address technical assistance, capacity development, information sharing and green premiums, including small and medium businesses, and support carbonization through financial mechanisms such as investments and strengthen value chain business unity between sectors. Climate crisis; only one of the many challenges we face from biodiversity and poverty, food systems and global health. The element that combines these problems is the need for emergency collaboration action to ensure a fair and equality pass and prevent systemic shocks. We are ready to collaborate with our governments and colleagues to continue momentum in COP28 and later. The importance of each degree in the race to reach the net zero is great. We need converter policy and actions to have the chance to win this race. “
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4 demands from CEOs to world leaders...]
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1 - Developing National Additive Fans (NDCs).
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“We call NDCs and international business unions to close the target deficit: Global Status Rating shows that NDCs provide only 5 percent emission reduction from 2030 and are very below 43 percent needed.. NDCs have to offer clear transition plans that provide transparency that businesses need for investment, and they need to turn them into national road maps for growth, competitiveness and future green workforce. In this context;
] ■ Integration of multi-cultural and multi-shared inputs, including private sector;
■ To reduce the risk by providing long-term visibility with extensive reduction and compliance goals and attract long-term private investment;
■ Designing industry-specific transformation paths with numerical investment targets, financing needs, energy supply, demand and performance goals as well as public supply targets;
] ■ Detailed of long-term technological and cradle capabilities required for businesses to help anyone close the open without leaving behind;
■ The emergence of climate and nature synergies that strengthen the National Biodiversity Strategies and Action Plans to stop and reverse ecosystem degradation, including natural climate solutions.

2 - Remove climate finance from billions to trilyons and risk private capital flows.

The developing world needs 5.8-5.9 trillion dollars for climate financing covering both reduction and compliance by 2030. It is necessary to significantly increase the new collective financing target to help unproportregated countries affected by climate change. Effective movement of private capital has critical importance. However, there is a need for the right risk reduction mechanisms for it;
]■ expand the use of carbon pricing for only 25 percent of global emissions;
■ Supporting consistent high-quality voluntary carbon markets with climate reduction hierarchy and advanceing international carbon markets along with holistic standards, scientific monitoring and verification, clear purchasing processes;
■ Properly gradual removal of fossil fuel subsidies, directing green and efficient investments;
■ In low and medium-income countries where investment risk premiums are high in proportion, but more convenient multi-sided development banks are catalized and improved mixed financing.

3 - Removal of transition period obstacles to the fulfillment of COP28 commitments.
] [email protected]The total capacity of renewable energy sources, which are currently allowed, reaches five times of the installed capacity. Even before taking into account new energy intensive uses such as artificial intelligence, 80 million kilometers of additional green grid is needed until 2040. COP28 will need the facilitator of local management of enterprises to meet energy commitments and ensure that energy demand increase is not met with new carbon-emitting fossil fuel investments;
] ■ Increasing renewable and clean energy supply by eliminating permission loads on appropriate projects and increasing grid preparation including storage capacity;
■ Adopt policies to provide higher renewable energy demand and price equality through increasing the electrification of heat, transportation and industry;
]■ By determining density targets, increasing energy efficiency through regulatory guides and incentives.

4 - Supporting groundbreaking technologies to achieve commercial measures and provide competitive solutions.

The estimated 30 percent of basic reduction technologies are particularly facing significant cost disadvantages in heavy emission sectors such as material, transportation and agriculture. Scale of these technologies including clean hydrogen, hydrogen derivatives and carbon removal is very important for the success of industrial carbonization. We need support for cost-effective technologies and cyclic solutions such as biogass and biofuels, to revitalize the market while maintaining supportive policies, incentives, easy-to-use processes and green public intake targets to facilitate reception.