WBCSD at G7: accelerating business efforts around climate accountability, nature positive and avoided emissions.

?? Inspiring news! WBCSD was recently invited to the #G7 Climate, Energy and Environment Ministers meeting in Sapporo, Japan.?

The Meeting was held under Japan’s G7 Presidency and was attended by Ministers of Climate, Energy and Environment from the G7 countries as well guests from the UAE (#COP28), India (current G20) and Indonesia.?

Here are some highlights from the Sapporo G7 Communiqué which closely relate to WBCSD work on climate & nature:

?? G7 support to International Sustainability Standards Board (ISSB) and its work to develop a global baseline for #sustainabilityreporting standards?

??This gives further importance to our priority theme of Corporate Accountability, and to?leverage?our CFO network and other WBCSD initiatives in climate and nature. As a global community of leading businesses, we are moving nature accountability forward similarly to our approach to climate accountability. This means a unified and robust approach to nature accountability and one that unlocks finance for the transition.?

?? Launch of G7 Alliance on Nature Positive Economy (G7NPE) that will help mobilize government & businesses to implement Taskforce on Nature-related Financial Disclosures (TNFD) & shift to #NaturePositive.?

??We are invited to collaborate with the Japan Ministry of Environment and the G7NPE secretariat to help build out the business dimension of this G7 Alliance. This has the potential to elevate our nature roadmap work and business collaborations with TNFD and SBTN to new heights.?

? Endorsement by G7 of Japan Ministry of Environment Circular Economy and Resource Efficiency Principles (CEREP). CEREP encourages companies to strengthen actions on #circulareconomy.?

??WBCSD?assisted?The Japan Ministry of Environment in developing these business principles as part of its G7 Presidency, and we will be working with The G7 Presidency on their implementation, including through advancing our Circularity Protocol initiative?

?? G7 Commitment to build transparency,?monitoring?and reporting on #plastics pollution & use (reduction) along key value chains.?

??This underscores the need to build accountability frameworks, including for businesses, into the Global Plastics Treaty negotiation process. WBCSD is committed to advancing the Corporate Accountability Agenda for reducing plastics pollution and working closely with the Global Plastics Treaty negotiation process to do?so?

???In addition, we are honored to collaborate with the Japan Minister of Economy,?Trade?and Industry on our newly launched Avoided Emissions Guidance.

??WBCSD's Avoided Emissions Guidance was referenced in the G7 Communiqué main?text?and we plan to advance these guidelines through 2023 and toward COP28.?

Japan successfully convinced G7 ministers to acknowledge avoided emissions as a crucial element of companies' decarbonization endeavors, thanks to the persuasive efforts of WBCSD Executive Vice President Dominic Waughray during his presentation at G7. This recent article sheds light on this significant achievement.??

We're?excited to continue working for a better world in which 9+ billion people can live well, within planetary boundaries, by mid-century! ?

?? We look forward to discussing these issues further at #LDMeeting23 next week. Also, stay tuned for more insights from our CEO!?