“We have a collective responsibility to raise ambition, scale up our actions and move forward faster together to safeguard the sustainable development goals and protect the inalienable right to life of our and future generations. Let’s not be late.” – Christiana Figueres, Convenor, Mission 2020 (former UNFCCC Executive Secretary)
The high cost of climate change is largely carried by some of the most vulnerable communities around the world. They suffer from enduring human loss, and a need to continuously repair damage from severe weather impacts and rising sea-levels. The repeated infrastructure costs divert investments from education, health and food security, further entrenching poverty and accelerating involuntary migration.
The insurance industry has also warned that if the world goes beyond a 2oc increase, it is not systemically insurable due to the frequency and intensity of extreme weather impacts. Reaching the climate turning point by 2020 will expedite the least expensive transition to a safer fossil-free economy by 2050, protecting the most vulnerable and ushering in a safer economy.
Immediate emission reductions are neededto meet temperature goals
Meeting the 2020 turning point will bring many added benefits in health, energy, food security and employment creation. This will form a strong base for shared prosperity and financial stability.
This in turn will help meet people’s common desire to prosper, with good jobs, safe homes and a flourishing natural world. The foundation for this stability is a living earth and a stable climate.
With breakthrough actions in a few key areas, including energy, transportation, land-use, infrastructure, industry and finance, we can build on the strong momentum towards a fossil-free economy and reach our 2020 turning point. The economics are shifting at scale:
Renewables are rapidly falling in price and are already undercutting coal in many jurisdictions.
Technological progress on battery storage is further enhancing the capacity of renewables as well as accelerating an astonishing growth in the market for electric vehicles.
Business leadership on eradicating commodities that cause deforestation from supply chains is growing quickly in response to customer demand.
Cities are forging ahead to create new public-private partnerships, financing resource-efficient infrastructure that will serve their communities for years to come.
The financial community is improving disclosure and corporations are starting to stress test their strategies against the 2-degree threshold.