Meeting the goals of the Paris Agreement requires concerted action by governments, international organizations, investors, civil society, citizens – and business. The private sector has a vital role in addressing climate change and, in order to act, they need to understand and manage their contribution to the problem at hand. 2020 represents a key year for the Paris Agreement under the UN Framework Convention on Climate Change (UNFCCC), as the next round of Nationally Determined Contributions (NDCs) will be submitted by member states. NDCs embody efforts by each country to reduce national emissions and adapt to the impacts of climate change. The second round of NDCs carries a key opportunity to involve non-party stakeholders, and their contribution to the Paris Agreement.
In preparation, GRI and CDP are providing recommendations to both policy makers and business on how to transparently include business actions in the NDCs, and on how to engage mutually towards meeting the goals of the Paris Agreement. This briefing provides an analysis of the first round of NDCs, and what this means for business action and reporting. It includes recommendations for policy makers and businesses, trends and lessons learned, as well as examples of good practice.