Trends and Challenges Facing U.S. Business:
- The Paris Climate Agreement builds on UN member countries’ Nationally Determined Contributions, or pledges, in which nearly all countries have committed to lowering greenhouse gas emissions along with other steps in coming years, looking ahead to 2030. However, current national pledges will not deliver necessary reductions to limit anticipated climate change, and pressure is mounting on all countries to take more ambitious action and mobilize public and private resources. In this connection, the right frameworks for transparency to ensure countries are taking the actions pledged will be critical.
- While business action and technical knowledge is more important than ever, some governments have called for limiting or banning business involvement in the UN climate deliberations. In the absence of a recognized channel for business expertise and engagement in this complex UN structure, neither countries nor the global community will be able to catalyze the needed actions, investments and innovations in the absence of enhanced substantive and technical involvement of business.
- The Paris Agreement impacts global markets and, subsequently U.S. business, including emissions trading and carbon pricing, trade measures and barriers as result of the “unlevel” playing field resulting from diverse national pledges.
- US companies continue to face uncertainty and challenges in terms of costs and security of energy access and mix; the OECD and IEA continue to provide analysis and scenarios relating to expected and needed energy infrastructure investment.
- Encourage the US to stay actively involved in the UN climate treaty, and to remain in the Paris Agreement, to defend and advance US economic interests, and to fight against proposals that would undermine US competitiveness, or block business involvement in the UNFCCC.
- Seek opportunities to design international climate cooperation that works with markets and business to deploy investment and innovation and to encourage companies in all sectors to integrate climate mitigation into their activities, supply and value chains.
- Work with members to dialogue with foreign governments and UN officials on the private sector’s expertise in measuring, reporting and verification—essential to assess countries’ comparative efforts on climate change policy.
- Advocates for appropriate regulatory frameworks to protect investments in green technology and deploy technology through trade and commercial transactions.
- Advocate that UN negotiations must not give rise to barriers to trade and investment or overlook the role financial institutions play in the UN’s efforts to mobilize funds for climate action. In fact, trade encourages climate-friendly investments and broad dissemination of cleaner technologies and energy sources.
- Highlight and communicate U.S. business expertise and views on more accessible, affordable and cleaner energy systems in the context of environmental risks, climate change considerations, economic growth and free and open markets in international policy deliberations.
- Promote global energy systems that allow U.S. companies to compete and flourish, to develop and disseminate more sustainable and efficient energy systems and technologies and to manage and improve energy use, conservation and environmental/social impacts, in line with SDG7.
- Encourage integration of international energy policy issues across other policy areas: promoting enabling frameworks to encourage investment and innovation while promoting more sustainable and environmentally friendly development and commercial activity.
- Carbon pricing is an important, but not the only, market-based climate policy tool. Countries have unique economic and energy circumstances and goals, so any such pricing at the international level needs to reflect those realities.
Magnifying Your Voice with USCIB:
- USCIB is the only U.S. business association formally affiliated with the world’s three largest business organizations where we work with business leaders across the globe to extend our reach to influence policymakers in key international markets to American business
- Build consensus with like-minded industry peers and participate in off-the-record briefings with policymakers both home and abroad.
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