Climate Action - Assisting business towards carbon neutrality

Addressing climate change presents opportunities to profit from working with other organisations inside and outside the business sector. Many companies are increasingly working with non-governmental organisations, cities or governments to identify and implement best practice solutions to profitably reduce emissions. The Carbon Disclosure Project, for example is an independent nonprofit organisation providing information for institutional investors with a combined US$41 trillion of assets under management. On their behalf, CDP seeks information on the business risks and opportunities presented by climate change and greenhouse gas emissions data from more than 2,000 of the world's largest companies.

Similarly, governments at all levels are seeking out opportunities to partner with business on delivering low carbon solutions for their citizens. In countries, such as Canada, government institutions and power utilities supported the setting up of Energy Service Companies (ESCos). In the US, the federal Environmental Protection Agency (EPA) started the Energy Star program in 1992 as a voluntary partnership to reduce greenhouse gas emissions through increased energy efficiency. In 2006, American businesses and consumers with the help of Energy Star saved US$14 billion on their energy bills and reduced greenhouse gas emissions equal to those of 25 million vehicles annually.

Sometimes programmes have financial incentives that help to break the finance barrier. Programmes or initiatives range from simple information to finance incentives with low or no interest loans to make changes that produce environmental benefits, including those related to climate change. Under the Clinton Climate Initiative, US president, Bill Clinton has recently negotiated an agreement with private companies to help 1,100 cities buy energy efficient products at volume discounts.

Collective industry initiatives and your local business association can also help, among others, to share experience and know how. Many business and climate initiatives have been launched in recent years. A special contribution can also be made through UN business partner initiatives, such as the climate working group under the UNEP Finance Initiative and the Caring for Climate initiative of the UN Global Compact, UNEP and the World Business Council for Sustainable Development. Partner initiatives with UN agencies can help facilitate work with stakeholders and regulators to raise the playing field and use recognised global standards in all regions of the world.