2024 NYC Climate Week - High-Level Roundtable: Private Sector Engagement for NDCs 3.0 (Invite Only)

According to the 2023 NDC Synthesis Report, countries’ current commitments will increase emissions by 8.8% by 2030 compared to 2010 levels, illustrating that we are extremely far off from the reductions of emissions by 50% by 2030 to limit temperature rise in line with the Paris Agreement. Governments must increase both ambition and action, while leveraging the private sector’s transition plans and investments, to ensure greater interlinking and alignment of business targets and national priorities for more effective climate investment planning and implementation. 

Multi-stakeholder collaboration globally, regionally and at country-level will be especially critical over the next few months as we rapidly approach the deadline for NDCs 3.0 in 2025. NDCs are expected to serve as economic blueprints for countries’ climate action and sustainable development and drive real economy investments to achieve the NDC targets and related SDGs. Governments and private sector have co-leading roles to play – with governments (1) leading the development of NDCs, and (2) developing policies and regulations that create the enabling environment necessary to achieve the targets, and the private sector (1) leading the deployment of capital, with necessary support from public sector, and (2) participating early on in the development process of NDCs and providing input on investability of NDCs and enabling environments, in the context of a particular country, sector, etc. 

To support the development of NDCs 3.0, on the sidelines of the UN General Assembly High-Level Week 2024, the UN Global Compact and the NDC Partnership will bring together the private sector and governments to discuss how they can best engage to support countries in developing ambitious and investible NDCs. The objectives of the session will be to: 

1. better understand the countries’ needs and expectations on the private sector’s participation in the country-led process of development of NDCs 3.0, and proactive roles that businesses and investors can play in contributing to the development of NDCs 3.0; 
2. showcase private sector engagement pathways on NDCs, particularly, at country-level; and 
3. establish a template for effective private sector engagement on NDCs, focusing on the ongoing development of NDCs 3.0, that could be replicated and scaled across all regions.