CEOs representing $4 trillion in revenue and 12 million employees within the Alliance of CEO Climate Leaders have issued an open letter to world leaders ahead of COP28, stressing the critical importance of every fractional degree in the race towards achieving net-zero emissions. They emphasize that achieving the goal of limiting global temperature increases to 1.5°C is in jeopardy unless there is a rapid increase in public-private collaboration and action to accelerate emission reductions across global value chains.
The alliance members have set individual emission reduction targets totalling 1.0 Gt CO2e by 2030, underlining the potential for human efforts to significantly impact society's course on climate. However, they emphasize that government support is crucial to overcome challenges such as regulatory and administrative hurdles, inadequate grid infrastructure, technological limitations, and reporting standard disparities that hinder progress in the fight against climate change.
Poul Due Jensen, CEO of Grundfos says “I firmly believe in the critical importance of every fractional degree on our journey to net-zero emissions. Achieving the 1.5°C goal requires urgent public-private collaboration, but our success hinges on government support to overcome regulatory, technological, and infrastructural hurdles."