COP27 prioritises a Just Transition - it's time for businesses to do the same

Everybody seems to be sharing COP27 reflections, with widespread disappointment at the outcomes.

Again.

But it is not all doom and gloom. I was pleased to see such a strong focus on a ‘just and equitable transition’ and the importance of including women, indigenous voices, and young people in designing and delivering action. Acknowledgement of the connection between the cost-of-living crisis and the need to transform energy systems. And the recognition that rich countries have a responsibility to support poorer nations who will be hit the hardest by the costs of 'loss and damage' caused by climate change, was a critically important shift.

There is clearly still much to be done and lots of room for improvement. I am by no means trying to minimise these shortcomings or the frustration that they rightly generate. The narrative around 1.5°C was diluted. A commitment to phasing down fossil fuel use was absent. The long promised $100bn a year from developed nations to developing nations has still not materialised.

But I can't help but wonder if maybe our expectations of the COP process may lead to some of those frustrations?

And it also reinforces that the need for authentic business leadership is vital if we are to tackle the climate crisis. I am fortunate to work with many committed people who are working hard every day to embed this leadership at the heart of their organisations.

Over the last few years, this has resulted in companies increasingly committing to climate action - more than 70% of BITC members now have.

But, that is no longer enough.

It is time to move from commitment to action. To align commercial, climate and social impact strategies to figure out what your company's contribution to a Just Transition will be. Find ways to co-create delivery plans with diverse stakeholders so that you are creating positive benefits for people and nature in the places that your operations, products, and services touch. Then tell your story, warts and all, in ways that people can engage with and easily understand. BITC’s 7 Steps for Climate Action toolkit is a great guide to help you get started.

On Tuesday 29th November, we will launch our Business Manifesto for a Just Transition, taking the insights from collaborating with hundreds of companies throughout 2022 to identify tangible actions every business can take now. There are still a few places available, at what will be a fascinating and inspiring event, so if you would like to join us you can register here. ?

Together we can deliver a just transition to a net zero, resilient future where people and nature thrive. Let's get on with it.