Business and industry leaders attending this week’s B7 summit will be urged to accelerate a “once in a lifetime” opportunity to seize the monumental opportunities of a net zero transition.
Biden: US will halve emissions by 2030
Brilliant news to begin the day of President Biden’s Leaders Summit on Climate – the US commits to more than halving its 2005 baseline emissions level by 2030.
The new target is a welcome confirmation of the new Administration’s recommitment to the Paris Agreement, to making policy guided by science, and to plotting interim targets on a credible pathway to net zero by 2050 or sooner.
The fact the US is in a position to pursue a halving of emissions by 2030 is testament to the hard work and commitment of US governors, mayors, CEOs, investors and civil society to keep alive the flame of climate ambition during the difficult past four years.
The Biden-Harris Administration has today sent the strongest possible signal from the world’s second-biggest emitter that the Race to Zero is truly on, and that those not yet in the Race will be left behind.
As one example, the vision to rapidly and fully decarbonize the country’s electricity grid within 15 years brings with it the exciting promise of new jobs, updated infrastructure and innovative new industries that can help the US compete on the world stage.
We look forward to further ambitious commitments at the Summit later today and in the weeks to come, from both national governments and the companies, investors, cities, states and regions that make up the “real economy” across the world, to whom we say “come join our #Race to Zero”.
An encouraging array of announcements of new commitments and partnerships – both public and private – and the nearly exponential growth in membership of the critical Race to Zero campaign shows that the transformation of the global economy is truly underway.
The global shift to a green economy could create 18 million jobs, with the potential to provide high-quality employment and livelihoods around the world. But what about the people and communities whose livelihoods, right now, depend on the fossil fuel or other high-carbon sectors?