Holding Businesses to Account Now: Using CDCs to Address the Climate Emergency
March 2, 2022
The private sector accounts for the majority of global emissions, but at present, business progress and delivery against decarbonization targets, ambitions and aims is not being captured. In order to drive accountability for businesses, WBCSD launched the Business Manifesto for Climate Recovery at COP26 in Glasgow, calling for the development of a new Corporate Determined Contributions (CDCs) framework. This framework would assess business progress and delivery against targets to align with the process of setting and delivering national plans, or Nationally Determined Contributions (NDCs). CDCs would be based on reported targets and progress in emissions reduction for annual assessment at the UNFCCC Conference of the Parties (COP) to ensure that business action is recognized and held to account in the global fight for climate recovery.