- Global businesses prioritize having a stronger voice in discussions at Cop28 over limiting global warming to 1.5C, according to a research by East & Partners and Impact & Influence.
- Limiting global warming to 1.5C ranks bottom of business leaders’ desired outcomes at Cop28, prompting concerns that businesses are losing sight of the bigger picture of tackling climate change.
- There is a need for businesses to take a more active role in tackling climate change, invest in green innovation and technology, support climate finance reform, and promote biodiversity and inclusion to create a sustainable future for all.
As the world prepares for the upcoming COP28 summit on climate change, businesses appear to be prioritizing other concerns over global temperature.
According to a recent survey, conducted by a leading research firm, it was found that majority of businesses are more concerned about the impact of inflation and supply chain disruptions on their operations rather than climate change.
The findings suggest that despite increasing awareness of the urgency of the climate crisis, many businesses still view it as a distant threat and do not view it as a priority concern.
This is particularly concerning given the urgent need for businesses to take collective action on climate change in order to prevent catastrophic global warming.
Despite the increasing frequency and severity of extreme weather events such as floods, droughts and wildfires, businesses appear to be more focused on immediate financial concerns rather than the long-term impact of climate change.
Many experts are calling for greater government intervention and regulation to ensure that businesses prioritize climate change as a key concern, and take action to reduce their carbon footprint and transition to more sustainable business practices.
As the COP28 summit approaches, it is clear that there is still much work to be done in order to mobilize businesses and ensure they take concrete action to address the climate crisis.