Governments must look to international standards and accreditation to ensure businesses play their part in reducing carbon emissions and enhancing climate resilience.
That is the call from IEMA today at the COP23 climate talks in Bonn, where world leaders, nominated delegates and other non-state actors are currently gathered to move forward the goals of the Paris Climate Agreement.
Speaking ahead of his speech in Germany, IEMA chief policy advisor, Martin Baxter, said that international business and product standards could prove “critical” in tackling climate change.
“There are a range of standards already being used where climate adaptation can be integrated into them,” he continued.
“The recent changes to ISO 14001 show this can be done, providing support to hundreds of thousands of organisations across the globe to become more resilient to a changing climate.
“COP23 is a real and necessary opportunity to catalyse action on climate change and ensure that the commitments made in Paris two years ago can be delivered, so we are calling on the delegates here in Bonn to build on their positive impact.”
This comes after a report from the World Bank’s International Finance Corporation found that governments have the power to unlock trillions of dollars in green investments.
It states that a combination of smart policy reforms and innovative business models could incentivise investment in industry sectors such as off-grid solar and energy storage, transportation and urban waste management.
The report reveals more than $1trn (£0.76trn) of investment is currently flowing into climate-related projects in these areas, but that trillions more could be triggered by creating the right business conditions in emerging markets.
Speaking in Bonn, IEMA policy lead, Nick Blyth, said: “Climate change is urgent and our response needs to extend across society. Governments, businesses, professions, NGOs and standards bodies must collaborate and find the pathways for change.
“COP23 offers a critical opportunity for this endeavour.”
