Climate change represents the main threat for our present and future.
Impacts of the climate crisis will unpredictably increase in frequency and intensity. Overall environmental and economic pressures are constantly increasing, worsening social inequality and jeopardizing geopolitical stability, due to uncontrolled migrations and conflicts over resource scarcity. According to the Special Report on Global Warming of 1.5 °C, released at the end of 2018 by the Intergovernmental Panel on Climate Change (IPCC), we know that the world must reach net-zero GHG emissions by 2050 at the latest.
In 2020 the unprecedent pandemic is bringing down the global economy, thus revealing a great truth: current economic systems, that follow an “extractive” approach and produce high carbon emissions, are extremely vulnerable against exogenous stress factors and unable to preserve well-being in the long term.
It is not only a social and environmental matter; it is an economic matter too. According to the World Economic Forum, extreme events and the failure of climate change mitigation and adaptation have become the greatest global risks perceived by economic experts and the business community.
But we think we are still in time to turn this negative situation into one of the greatest drivers for starting a new, regenerative, inclusive and prosperous economy. The transition towards a low-carbon economy embodies today an unparalleled opportunity for all players to join an economic Renaissance that builds on climate resilience, prosperity, innovation and long-term sustainable development. The countries hardest-hit by Covid-19 in 2020 will need to relaunch their economies by activating unprecedented investments, and this could represent an incredible occasion to further accelerate the green transition.
This will depend on the choices we will be making during next months.
For the full success of this just transition, there is need for all actors to be involved and to take action. We need a disruptive, common Climate Call to Action to be put into practice in the next 10 years, involving business leaders, policy makers, academia, religious leaders, cities and civil society.
We know that the climate commitments undertaken by governments across the world – through the so-called Nationally Determined Contributions (NDCs) – are still insufficient.
Urgent action needs to be taken.
For these reasons, we hereby commit for a strong effort to shift our business models towards a Paris-compliant decarbonization path. Being aware that our commitments alone are not sufficient, we also demand Governments and International Organizations to do their part, leading the world to face the climate crisis.
CALL TO ACTION
We, leaders joining Parma Summit 2030, as responsible of organizations, realize that solving the climate crisis is the most important challenge of this century and therefore we commit to considering it a key factor in all our future decisions.
In particular, with this Pledge, we commit our companies and organizations to:
- Define and communicate our organization’s carbon footprint, taking into account all phases of the value chain, as to say the largest possible boundaries of our economic activity, including material production, products use and end-of-life.
- Set and communicate a clear strategy to reach a complete carbon neutrality well before 2050. We will reach the carbon neutrality target through deep reduction of all emissions within our carbon footprint, with a very limited contribution from any form of compensation (e.g. offsetting, purchase of green certificates for electricity, etc.).
- Set an intermediate target for 2030 and define a concrete action plan for reducing our GHG emissions by that year, consistently with the long-term net-zero emission path for 2050. The plan will follow an inclusive approach that embraces not only renewables and energy efficiency, but also circularity, process innovation, products eco-design, carbon negative solutions, etc.
- Report data, regularly and with transparency, on our progress towards carbon neutrality. Transparency means to report specifically on how each driver contributes to the emission reduction, and adopting a clear reporting system that distinguishes between real emission reductions and compensated emissions. With this Pledge, we accept to be monitored by a third party.
- Allocate the majority of our organization’s new investments in low-carbon technologies and climate friendly processes and business, divesting from fossil fuels and highly emitting solutions.
- Set a direct example, advocate and involve all our stakeholders in this decarbonization strategy.
Furthermore, we ask Governments and International Organizations to:
- Unilaterally upgrade national climate commitments, and make them compliant with the net-zero emissions target by 2050, following a Green deal approach, where low carbon solutions become the key drivers for a prosperous and inclusive economic and social development.
- Develop mandatory and effective carbon pricing schemes, including a local carbon tax, capable of effectively steering markets towards climate-friendly solutions, and to develop instruments to avoid environmental dumping – such as a carbon border adjustment tax, and social inequalities.
- Double by 2030 the global energy consumption from renewable sources, pursuing a “100% renewables target” by the middle of the century.
- Phase out investments in new coal-fired electricity plants by 2025, as coal still today represents the main source for power generation.
- Establish that no new diesel and gasoline cars will be registered in the global market, starting from 2030.
- Phase out fossil-fuels subsidies by 2025, estimated to be over 400 billion $ and encourage financial institutions in making real fossil fuels divestments before 2030 increasing their financial support to a green economy.
- Provide solid standards and internationally agreed criteria in order to support companies in realizing effective and credible “net zero emissions” commitments and strategies.
- Support cities and local communities in setting zero GHG emissions targets and commit on advanced mitigation and adaptation strategies.