WGEO Program at COP29

Fireside Chat by Climeworks, WGEO Partner

Background

This conversation between Sophie Lambin, CEO of Kite Insights, Jörg Eigendorf, CSO of Deutsche Bank and Adrian Siegrist, CCO of Climeworks will delve into the pivotal role of carbon removal in achieving Net Zero.

The session will explore how carbon removal is essential to complement emission reduction efforts with perspectives from one of the world’s leading banks, fully committed to spearheading the net-zero transition, the world’s leading carbon removal player, as well as a research and strategic communications agency empowering people and organisations to play their part in sustainable transformation.

Attendees will gain insights into the collaborative efforts required across stakeholder groups to scale carbon removal to gigaton scale.

WGEO Panel Discussion

Background

The global climate crisis disproportionately affects developing countries in the Global South, which often lack the resources and infrastructure to adapt to climate impacts and mitigate greenhouse gas emissions. Effective collaboration between the Global North and South is essential to address these challenges and build a more resilient and sustainable future.

Recent reports by the Intergovernmental Panel on Climate Change (IPCC)8 highlight the urgent need for increased climate action, particularly in developing countries. By sharing knowledge, technology, and financial resources, the Global North can support the Global South in implementing climate mitigation and adaptation measures. In turn, the Global South can contribute to global climate goals by developing innovative solutions and sharing their experiences.

In Focus

Successful collaboration between the Global North and South requires a shared understanding of the unique challenges and opportunities faced by each region. Building trust, fostering mutual respect, and ensuring equitable partnerships are essential for effective cooperation. Additionally, it is important to recognize the diverse needs and priorities of different countries within the Global South and tailor support accordingly

A range of mechanisms can be used to facilitate collaboration between the Global North and South, including:

• Joint research and development: Collaborating on scientific research and technological innovation to address climate challenges.
• Capacity building: Providing training and technical assistance to developing countries to enhance their climate resilience and mitigation capabilities.
• Financial support: Mobilizing public and private finance to support climate action in developing countries.
• Knowledge exchange: Sharing best practices and lessons learned between different regions.

Questions for Panel Discussion

How can the Global North and Global South collaborate more effectively on climate adaptation and mitigation?

• What are the key barriers to effective collaboration, and how can these be overcome?
• How can partnerships be structured to ensure equitable benefit sharing and mutual respect?
• What role can international organizations and civil society play in facilitating collaboration?

What are successful examples of bi-directional learning and support between these regions?

• How have developing countries in the Global South developed innovative solutions to climate challenges?
• How has the Global North provided effective support to developing countries in implementing climate action?
• What lessons can be learned from successful partnerships between the Global North and South?

What frameworks can be established to ensure sustained cooperation and mutual benefits in climate initiatives?

• How can long-term partnerships be built and maintained?
• What mechanisms can be used to monitor progress and ensure accountability?
• How can the benefits of climate action be equitably distributed between the Global North and South?

WGEO Panel Discussion

Background

The increasing pressures of climate change and resource depletion necessitate a fundamental transformation of global supply chains. Circular economy principles offer a promising approach to enhance sustainability and resilience by minimizing waste, reducing resource consumption, and promoting regenerative practices. By adopting circularity, businesses can contribute to climate mitigation, reduce their environmental footprint, and improve their long-term competitiveness.

Recent reports by the Ellen MacArthur Foundation[1] highlight the potential of the circular economy to address key environmental challenges, including climate change, resource scarcity, and pollution. By shifting from a linear “take-make-dispose” model to a circular one, businesses can create value while reducing their environmental impact.

In Focus 

Achieving circularity in supply chains requires a systemic approach[2] that involves collaboration among businesses, governments, and consumers. Key strategies include: 

• Product design for circularity: Designing products that can be easily reused, repaired, or recycled.
• Extended producer responsibility: Holding manufacturers responsible for the entire lifecycle of their products, including end-of-life management.
• Supply chain transparency: Ensuring transparency and traceability throughout the supply chain to identify and address environmental and social risks.
• Circular business models: Exploring innovative business models that promote resource sharing, product-as-a-service, and closed-loop systems.

Questions for Panel Discussion

What best practices can be adopted to enhance circularity in supply chains for better climate resilience?

• How can businesses design products and packaging to minimize waste and maximize recyclability?
• What strategies can be used to promote the reuse and repair of products?
• How can supply chains be optimized to reduce transportation distances and emissions?

How can businesses be incentivized to adopt sustainable and circular supply chain practices?

• What financial incentives and market mechanisms can be used to promote circularity?
• How can businesses be supported to invest in sustainable technologies and infrastructure?
• What role can governments play in creating a policy environment that encourages circularity?

What are the key barriers to achieving circularity in global supply chains, and how can these be overcome?

• How can challenges related to infrastructure, technology, and consumer behavior be addressed?
• What role can international cooperation play in promoting circularity on a global scale?
• How can businesses measure and report on their progress towards circularity?

WGEO Panel Discussion

Background

The retail sector plays a crucial role in shaping consumer behavior and driving sustainable consumption patterns, positioning itself as a key player in achieving Net Zero targets. By offering sustainable products, promoting ethical sourcing, reducing waste, and adopting carbon-neutral practices, retailers can significantly contribute to both climate mitigation and the broader Net Zero agenda. Recent studies highlight the growing consumer demand for sustainable products and services, underscoring the importance of the retail sector in advancing this transition toward a low-carbon future. The World Green Economy Organization (WGEO) is actively supporting its members in achieving their Net Zero targets by providing capacity building, collaborative opportunities to enhance sustainable practices across sectors, including retail.

The United Nations Environment Programme (UNEP) has emphasized the need for sustainable consumption patterns to address the global environmental crisis and meet Net Zero goals. Retailers can play a vital role by not only offering consumers a wider range of eco-friendly products but also by reducing their own operational emissions. WGEO works closely with its members to promote sustainable initiatives, ensuring they have the tools and frameworks needed to align their practices with Net Zero ambitions. By providing transparent information about the environmental impact of purchasing decisions, retailers can empower consumers to make choices that support the global shift towards Net Zero.

In Focus

To effectively promote sustainable consumption, retailers must adopt a comprehensive approach that encompasses product sustainability, supply chain transparency, and consumer education.[1] This includes:

• Offering sustainable product options: Expanding the range of eco-friendly products available to consumers, including those made from recycled or sustainable materials.
• Providing transparent information: Disclosing the environmental and social impacts of products, including information on sourcing, production processes, and packaging.
• Educating consumers: Empowering consumers to make informed choices by providing information about sustainable living and the benefits of reducing consumption.
• Reducing waste: Implementing strategies to minimize waste throughout the supply chain, such as reducing packaging, promoting product reuse, investing in recycling.

Questions for Panel Discussion

What strategies can the retail sector implement to promote sustainable consumption among consumers?

• How can retailers effectively communicate the environmental benefits of sustainable products to consumers?
• What role can retailers play in educating consumers about sustainable living practices?
• How can retailers incentivize consumers to choose sustainable options over traditional products?

How can transparency in supply chains be improved to support sustainable consumer choices?

• What measures can retailers take to ensure ethical sourcing and production practices throughout their supply chains?
• How can retailers disclose information about the environmental and social impacts of their products in a clear and accessible way?
• What challenges and opportunities exist in implementing traceability systems to track the origin of products?

What are the challenges and opportunities in shifting retail models towards sustainability?

• How can retailers address the costs associated with sourcing and selling sustainable products?
• What are the potential risks and rewards of investing in sustainability initiatives?
• How can retailers collaborate with suppliers, governments, and NGOs to promote a more sustainable retail landscape?

Panel Discussion by Bain, WGEO Knowledge Partner

Background

While the theme of COP28 in Dubai last year was to move from Ambition to Action; the developments of the last 12 months focused on moving from action to accountability with a range of disclosure requirements that are emerging across the globe. Following the high-profile commitments made COP28 and in alignment with global trends, the MENA region faces increasing pressure from different stakeholders – including investors, regulators and global markets – to enhance transparency around corporate sustainability practices and transition to more sustainable business models.

The region needs to accelerate its progress, and MENA companies must be prepared to remain competitive in the global economy, attract international investors and support the region’s economic diversification goals. However, corporations in the MENA region often encounter significant challenges due to the lack of clear guidelines and best practice on reporting that are tailored to the region’s unique context. Many companies are still in the early stages of their sustainability journeys, grappling with awareness and capability gaps as well as financial constraints, particularly in understanding and implementing effective reporting practices.

In Focus

To navigate this complex landscape, companies embarking on sustainability journeys should prioritize environmental topics that most significantly impact their operations, investor decision-making and the broader ecosystem. These topics can be effectively defined through a “materiality assessment” exercise that enables companies to accurately understand and report on their sustainability performance, allowing for greater transparency among key stakeholders and more effective risk management, which in turn will result in increased investor confidence.

Promising developments are emerging in the region, with organizations demonstrating notable progress in integrating sustainability into core business operations, recognizing the importance of sustainable development as a key driver of long-term resilience and growth. These examples can inspire organizations across MENA to contribute to a sustainable, resilient and decarbonized MENA economy, covering critical areas such as reducing greenhouse gas (GHG) emissions, decarbonizing the value chain, small and medium enterprise support and water management.

Questions for Panel Discussion

What are some of the unique challenges that MENA companies face from a reporting and disclosure perspective? How can materiality assessments help MENA companies accelerate their sustainability reporting efforts?

• What are materiality assessments, and what are the challenges specific to the MENA region that they help address?
• What are the key benefits of integrating materiality assessments into corporate strategy?
• What steps can companies take to use materiality assessments to meet investor demands and comply with current and anticipated regulations?

What are some notable sustainability related success stories from the region?

• What were the key enablers that supported the success of these initiatives?
• Who were the key stakeholders involved?
• What were the unique risks and challenges faced for each initiative?
• What role can larger, more advanced companies play in supporting SMEs along their sustainability journeys?

How can organizations and policymakers work collaborate to foster better sustainability outcomes in MENA?

• What policies are needed to incentivize companies to adopt materiality assessments and improve sustainability disclosures?
• How can regional cooperation and shared sustainability goals drive progress across key sectors?

Panel Discussion by The Energy and Resources Institute (TERI), WGEO Partner

Agenda

• 06:00 PM – 06:05 PM : Welcome by Mr. RR Rashmi, former Special Secretary, Ministry of Environment, Forest & Climate Change, Government of India; and Distinguished Fellow, TERI
• 06:05 PM – 06:20 PM : Presentation on IPCC Key Findings and Nexus of Science-Policy-Business by Prof. Jim Skea, Chairman, IPCC
• 06:05 PM – 06:22 PM : Launch of Online Portal showcasing inputs of signatory companies of Industry Charter for Near-Zero Emissions Ambition by 2050 instituted by TERI
• 06:22 PM – 06:40 PM : Panel Discussion with Indian Business Leaders Moderated by Mr. RR Rashmi, former Special Secretary, Ministry of Environment, Forest & Climate Change, Government of India, and Distinguished Fellow, TERI
• 06:40 PM – 06:45 PM : Vote of Thanks by Mr. Arupendra Nath Mullick, Vice President, TERI Council for Business Sustainability

Background

The Sixth Assessment Report (AR 6) of Intergovernmental Panel on Climate Change mirrors climate realities for India and even though assessments are global in scale, it has given projections for India that will help define its development pathways vis-à-vis its climate change realities. The Sixth Assessment Report has confirmed the dire consequences that await humanity if urgent actions are not taken to mitigate the key drivers for climate change.

The IPCC AR 6 has also reiterated what has already been known for some time, i.e. Indian subcontinent is and will be most impacted by climate change. This is not only because the subcontinent lies in a higher temperature tropical zone but also because there are loops that are related to higher population, ecological degradation and unsustainable patterns of production and consumption.

In Focus

India, at the centerstage, is bound to showcase its leadership and inevitably crucial role in global efforts to address climate change as well as the COP 29 negotiations. While India is on its pathway for implementing its NDCs, there is a need to raise its climate ambition in short and medium term. India also has to better adapt to climate change by enhancing investments in development programmes in sectors vulnerable to climate change, particularly agriculture, water resources, Himalayan region, coastal regions, health and disaster management. TERI acknowledges that non-state actors, particularly businesses, play a vital role by understanding the opportunities of low-carbon economy and challenges on one hand, and by mobilizing resources and offering know-how and solutions, on the other. Leading market players from Indian Industry have come together to sign an ‘Industry Charter for Near Zero Emissions Ambition by 2050’ instituted by TERI. Since its inception, the Industry Charter has emerged as an important step for the Indian industry to voluntarily commit themself to decarbonization measures.

Given the projections of climate and development challenges, India has an opportunity to pioneer a new low carbon development pathway which finds synergies with compulsions of climate constraint world. It doesn’t have a choice and cannot pursue a model of advanced economies. India has an opportunity to explore its own unique trajectory which will not only advance its economic prospects but also prepare itself to raise its climate ambition by leveraging its strengths.

The interactive session with IPCC Chair and Indian Business Leaders will delve deeper into implications of the key findings of IPCC AR6 Report followed by Industry deliberations on opportunities that lie ahead of India to embrace an inclusive and green development pathway by leveraging its strengths, innovative technologies and climate friendly approaches of development. The short- and mid-term actions to address externalities and impacts of climate change would be extremely crucial for implementation of NDCs and raising India’s climate ambition.