COP29: ‘Now is the time to fast-track, not backtrack’ on the path to net-zero

“We need a massive global effort to steer our world onto a path to safety; you are out in the front…helping consumers, investors and regulators understand what credible net-zero looks like,” said the Secretary-General.

As violent weather inflicts human tragedy and economic destruction worldwide and with efforts to limit the rise in global temperature to 1.5 degrees Celsius slipping away, Mr. Guterres convened the high-level meeting of non-State actors to spotlight their actions and strategies since 2022, in line with key recommendations issued in a report he launched at COP27 in Shram-el-Sheikh.

‘The path to safety’

The report, Integrity Matters, set out 10 recommendations that serve as a “how-to” guide for credible, accountable net-zero pledges. They detail what non-State actors need to consider at each stage of their progress towards achieving net-zero ambitions and tackling the climate crisis.

Put simply, net zero refers to the balance between the amount of greenhouse gas produced and the amount that is removed from the atmosphere. Reaching this goal requires cooperation between businesses and financial institutions, and other entities working alongside governments.

‘Fast-track, not backtrack’

On Thursday, the Secretary-General thanked the non-State actors for taking the lead in the global efforts towards the net-zero goal, but said: “Now, we need others to follow.”

He first urged all non-State actors to create robust, accountable transition plans by COP30 next year. The plans must be consistent with limiting global temperature rise to 1.5C, and chart a course to net zero by 2050, through milestones in 2025, 2030, 2035, and beyond.

“They must chart a course to fossil fuel phase-out – based in the science. They must disclose policies on lobbying and policy engagement. And they must commit to deep decarbonization across the entire value chain,” said Mr. Guterres

He also stressed that all such plans must not rely on dubious offsets, including for so-called Scope 3 emissions, or indirect emissions, such as those produced by purchased goods and services, business travel or waste disposal.

“Now is the time to fast-track, not backtrack; the time for ambition and transparency. Not greenwashing,” he stated.

Work together with governments

Mr. Guterres called for moving from voluntary pledges to mandatory rules. “The future of humanity is at stake. Action cannot be optional. Disclosing credible transition plans, that align with 1.5 degrees must be mandatory for corporates and financial institutions.”

The UN chief also urged businesses, financial institutions, cities, regions and more, to work with governments on their national climate action plans, or NDCs, due by COP30.

“Help governments ensure that they provide policy and regulatory certainty on a 1.5[C]-aligned future. We must make sure that governments facilitate the work of other actors in this regard, and not that they complicate the work of other actors in compliance with the 1.5[C] aligned future,” said the UN chief.

Later in the day, Mr. Guterres is expected to meet with a group of climate scientists and civil society actors, including young climate activists.

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