About three months before the 26th UN Climate Change Conference (COP26), to be held in Glasgow, on October 31, BCSD Portugal (Business Council for Sustainable Development) has launched a Manifesto that contains 11 goals to stop climate change.
Corticeira Amorim is one of 82 Portuguese companies and organisations that have signed this business commitment, at a critical moment for fulfilment of the Paris Climate Agreement.
The “Towards COP26” Manifesto confirms the relevance of this Conference and highlights the principal results that are expected to increase the ambition of the global and collective response, in line with the objective of limiting global warming to 1.5⁰C, which requires accelerating the decarbonisation process worldwide.
By signing this manifesto, Corticeira Amorim has reinforced its commitment to the 2030 Agenda of the United Nations, recognising not only the urgent need to ensure a transition to a low-carbon economy, but also the importance of adaptation measures that take into account the protection of people and ecosystems. The company's strategy is aligned with 12 of the UN’s 17 Sustainable Development Goals, committing itself, among others, to reducing the environmental impact of its operations through the adoption of renewable, accessible and efficient solutions.
The 26th UN Climate Change Conference (COP26) is approaching, at a critical time to ensure compliance with the Paris Climate Agreement. Limiting global warming to 1.5⁰C means halving global emissions by 2030. This requires the decarbonisation process to be greatly accelerated around the world.
If climate action were limited to current policies, this would result in global warming of at least 2.9⁰C, which is incompatible with the desired level of protection for the biosphere and life on Earth. In this context, BCSD Portugal confirms the relevance of COP26 and emphasises the importance of attaining the following core objectives:
Ensure global carbon neutrality by 2050, using as a global reference the ambition stated in the Roadmap for Carbon Neutrality (RNC2050), in particular, the goal to ensure that more than 80% of the energy mix derives from renewable sources by 2050.
Align agendas and recognise that climate change mitigation and adaptation goals cannot be achieved without effective promotion of nature-based solutions (in particular, valuing natural carbon sinks, such as forests and oceans), and the restoration, conservation and enhancement of natural resources.
Adopt remuneration mechanisms that make it possible to value the services that nature provides to us, which are generally unpaid, to ensure that nature’s benefits - which are essential for the economy, for climate regulation and biological diversity, and for our health - are assured in the future.
Increase the number of countries that are actively committed to reducing emissions by 50% by 2030 and achieve net zero emissions by 2050, making their commitments legally binding. At the same time, ensure finalisation of the Paris Rulebook and, in the case of EU countries, ensure that national policies uphold the defined goals.
Assign a carbon price, in order to internalise the corresponding environmental impacts, and gradually and effectively eliminate unjustified or incompatible subsidies that aim to reduce Greenhouse Gas emissions, through transparent and robust instruments, with global reach and balanced between different economic spaces, in order to avoid competitive distortions that will encourage the exportation of emissions to less demanding geographies, or the circulation of products that do not meet applicable requirements, ensuring the eradication of energy poverty, while safeguarding the security of supplies and helping transform consumer behaviour.
Define clear and robust rules for functioning of Article 6 of the Paris Agreement on carbon markets, which avoid double counting of carbon credits, ensure a global reduction of emissions and help build a carbon neutral economy.
Fulfill the commitment, as defined in the Paris Agreement, to support developing countries, worth US$100 billion per year, as a critical factor in protecting against climate impacts and accelerating global decarbonisation, with precise rules and monitoring.
Create market incentives that will direct financing and investment towards low carbon solutions, in particular sustainable finance solutions, seeking to ensure universal standards for measuring and reporting climate risks and impacts.
Support the development of new technologies and changes in production methods, through collaboration between companies and the academic world, and the promotion of public-private partnerships in favour of carbon neutrality.
Create mechanisms for the qualification and requalification of people that are most affected by the transition, based on dialogue between workers, employers, governments, communities and civil society, so that no one is left behind and ensure that the costs and benefits of climate action are distributed equitably.
Encourage countries to develop resilience strategies that address physical climate risks at key locations in global value chains and to local communities and populations.
We are at a decisive historic moment. It is crucial to take advantage of the lessons learned from the pandemic to accelerate the necessary transition and there is an urgent need to ensure that COP26 is a success, in order to avoid disastrous consequences for societies and economies.
