The United States Council for International Business commends the strong efforts of the U.S. delegation, the UK Presidency and other governments and stakeholders that were at the United Nations Conference of the Parties (COP26) in Glasgow to reach conclusion in key areas for business, overcoming challenging differences of opinion and delivering stepped-up international cooperation on climate change. Real progress has been made across the board, including strengthening Nationally Determined Contributions (NDCs), prioritizing adaptation, and completing outstanding work on carbon markets. In addition, the U.S. announced significant new global alliances to reduce methane emissions and to combat deforestation.
However, these hard-fought COP26 outcomes demonstrate the need for a new, more ambitious and inclusive phase of the UN Framework Convention on Climate Change (UNFCCC) process after Glasgow. Keeping 1.5 in reach, mobilizing investment, innovation and finance and driving a just transition for workers and employers can only succeed through partnership and dialogue with key stakeholders, notably the private sector as an engine of growth and investment.
Turning out in record numbers in Glasgow, U.S. business demonstrated its readiness to be part of the solution, through pledges, initiatives and engagement with the Administration, the UNFCCC Marrakesh Action Platform and a host of others. While the concluding documents of COP26 made disappointingly scant mention of the private sector, USCIB is convinced the meaningful inclusion of business is indispensable to keep 1.5 alive and to ramp up private sector deployment of innovation, resource mobilization and just transition.
USCIB looks forward to further technical work on Article 6. We urge UNFCCC parties to commit to continued discussions, while engaging the private sector in order to build confidence in how the Article 6 rules will function effectively in the real economy.
USCIB is proud of the actions and thought leadership of its international affiliate organizations, the International Chamber of Commerce (ICC) and the International Organization of Employers (IOE), bringing the voice of global business and employers to this vital meeting. An inclusive multilateral approach will have to invite and crowd in engagement from all businesses large and small to assist on practical policy design, accelerated action and the economywide effort needed to attain global net zero as soon as possible.
USCIB members are committed to stay the course and make the case for the enabling frameworks inside and outside UNFCCC that converge a sustainable resilient recovery with Paris Agreement commitments. U.S. business represented by USCIB will continue to play its part to inform increasingly ambitious NDCs and to highlight the need to engage business expertise in the Global Stocktake. As declared in the closing statement for business groups at COP26, USCIB agrees that business has “a key role and responsibility to push for effective collective action at COP and at home. We can, we must, and we will accelerate our collective efforts.”
About USCIB: USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation. Its members include U.S.-based global companies and professional services firms with operations in every region of the world. USCIB has represented U.S. business at the UNFCCC since 1993. Furthermore, as the U.S. affiliate of leading international business organizations and as the sole U.S. business group with standing in ECOSOC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.