Energy Gang

Live from COP29: Are businesses still driving the energy transition?

Nov 15, 2024

Joining the conversation are Nicolette Bartlett from CDP, who highlights the surge in business opportunities driven by climate action. Mike Train of Emerson shares insights on their ambitious goal for 100% renewable electricity by 2030 and the importance of transparency in sustainability efforts. Maria Mendiluce discusses the We Mean Business Coalition's approach to mobilizing corporate climate action. Johan Falk from the Exponential Roadmap Initiative emphasizes the need for substantial emission reductions, showcasing how businesses can lead the charge in tackling climate change through collaboration and innovation.

57:48

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Quick takeaways

Businesses are key players in climate action, presenting significant opportunities for innovation and investment in sustainable practices amidst regulatory challenges.

The shift toward environmental transparency, exemplified by CDP's growing disclosures, highlights the financial potential of climate responsibility, estimated at $5 trillion annually.

Collaboration between industries and governments is vital to align efforts on emissions targets, addressing the complexities of investment in cleaner technologies and sustainable solutions.

Deep dives

The Role of Business in Climate Action

The involvement of businesses in climate action is crucial, as they hold the key to delivering significant innovations and investments needed to tackle climate change. Discussions suggest that while businesses are often criticized for their role in emissions, they are also making strides to develop sustainable practices and technologies. There is an argument that businesses must be active participants in climate negotiations, rather than passive stakeholders. Engaging businesses allows for a more realistic approach to scaling solutions that drive economic growth and environmental responsibility.

Intro

2min

Navigating Climate Disclosure and Investment

10min

Exploring Climate Innovations at COP29

2min

Renewable Ambitions and Hydrogen Solutions

11min

The Evolution of Corporate Sustainability and Its Role in Climate Action

2min

Corporate Involvement and Climate Collaboration at COP29

2min

Business Collaboration for Climate Action and Decarbonization

2min

Business Engagement at COP29: A Shift in Dynamics

13min

Renewables and Electric Vehicles: The Viability Debate

14min

As many nations face challenges in meeting their Paris Agreement goals, some businesses are stepping up to fill the gap. Climate action is not just a responsibility but a lucrative opportunity

In this latest episode of The Energy Gang from COP29 in Baku, Azerbaijan, Ed Crooks explores the critical role of businesses in addressing climate change. He talks to business leaders and experts about the challenges and opportunities facing companies at the forefront of climate action. Ed and his guests explore how industries such as steel, chemicals, and transportation are innovating to transition to low-carbon solutions.

Nicolette Bartlett of the CDP, the disclosure platform for carbon and other environmental impacts, says the business opportunities in addressing climate change have soared in recent years. Companies with emissions reduction goals want to drive decarbonization of their supply chains, creating new markets for businesses that can shrink their carbon footprints.

Mike Train, the Chief Sustainability Officer of Emerson, one of the world’s leading industrial automation groups, says his company is still committed to a roadmap for achieving 100% renewable electricity and net-zero emissions by 2030. Mike explains how transparency, innovation, and employee engagement are key to balancing investment costs with long-term growth.

Finally, Ed is joined by the leaders of two groups that work with blue-chip companies including Amazon, Google, Ikea and Netflix. Maria Mendiluce, of the We Mean Business Coalition, and Johan Falk, of the Exponential Roadmap Initiative, discuss why businesses are pivotal in shaping global climate policies. From lobbying for ambitious targets to fostering collaboration across value chains, companies are driving progress even amid geopolitical and economic uncertainties.

The episode also explores the connections between government policies and corporate strategies. Businesses need consistent regulations and financial frameworks to unlock investments and accelerate the transition to renewable energy and sustainable practices.

As COP29 continues, the focus remains on achieving an ambitious deal on climate finance to support developing countries and emerging economies. The conversations from this episode underscore the need for public and private sector efforts to work together to deliver real change.

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