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The Paris Agreement: What It Means for Business

Experts from the We Mean Business Coalition’s seven business-facing networks (which include BSR, CDP, Ceres, The B Team,The Climate Group, WBCSD, and The Prince of Wales’ Corporate Leaders Group) analyzed the Paris Climate Agreement to identify the policies relevant to global business and released their findings in this aptly-named report.

The Coalition asserts that governments are sending a decisive market signal that the transition to a clean economy is inevitable. They believe that the Agreement will help facilitate a deep transformation across the global economy that will allow businesses to:

  • Seize new and expanded low-carbon market opportunities;
  • Align investment decisions to long-term policy certainty;
  • Benefit from policy coherence across borders and into new markets;
  • Increase investor confidence and protect operations by managing climate risks; and
  • Be recognized as leaders among their peers by taking climate action through We Mean Business.

The report cites an International Energy Agency (IEA) estimate that the national climate plans under the Paris Agreement collectively represent at least a US$13.5 trillion market for the energy sector alone, in energy efficiency and low carbon technologies through 2030. 96 percent of countries, representing 98.7 percent of global greenhouse gas emissions, have submitted national climate plans.

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