WWF Encouraging Australian Companies To Fight Against Climate Change

WWF Australia has joined forces with CDP and Global Compact Network in a global initiative designed to encourage companies to begin taking steps to combat climate change in the run up to December’s UN Climate Change Conference which will take place in Paris. The initiative wants more companies in Australia to show greater leadership in the fight against climate change.

Climate change is now an immediate threat

James Day, Australian & NZ Director for CDP says in the long run, it would be much more cost effective for businesses to begin implementing science based carbon reduction targets right now. He adds that there is a growing realisation that climate change is an immediate threat and no longer a faraway future problem. According to CDP data, S&P 500 companies now describe 45% of the physical risks from climate change as current or expected to occur within the next 5 years, up from 26% in 2011.

Australian companies should set an example

Monica Richter of WWF Australia says the organisation wants Australian businesses to show corporate leadership and set an example for other companies and governments. She adds that there is lots of evidence which suggests the Australia can achieve ambitious reductions in its emissions and even reach zero net emissions by 2050 through the use of renewables. In order for that to happen, companies will need to play a key role which will be good for the economy because industries such as manufacturing and farming will benefit.

Sustainable economies present significant opportunities

Alice Cope of the Global Compact Network says as the world moves towards a consensus on the action needed to be taken for climate change, the implications for businesses are clear. She adds that for companies who are willing to implement solutions that build more sustainable economies, there will be significant opportunities. The Global Compact Network wants to help Australian companies come up with solutions to climate change that are practical and build engagement.

“We’re saying to company CEOs: if you want to satisfy shareholders, customers and employees and leave a lasting legacy, set science-based targets, reduce your carbon emissions and buy renewable energy. If companies get this right, they will become recognised as the supplier, employer and investment of choice, as well as a leader on climate change,” Ms Richter concluded.

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