GILLIAN NELSON, POLICY DIRECTOR AT WE MEAN BUSINESS COALITION
https://www.wemeanbusinesscoalition.org/blog/we-mean-business-coalition-...
Gillian Nelson, Director of Policy, We Mean Business Coalition said:
“Italy and G7 nations seem to have understood their leadership is crucial to ensuring action to secure a stable, safe planet. If countries now deliver on this detailed outcome, it will give business confidence that these major economies are committed to implementing the mechanisms required for the clean energy transition and phasing out unabated fossil fuels in line with 1.5ºC.
“The clear assertion their Nationally Determined Contributions will include the commitment to phase out fossil fuels and scale up clean energy, and their recognition of the need for supportive finance to enable a global transition in line with 1.5 are immensely significant as countries prepare their own NDCs.
“This is what business has been calling for. Anticipating what regulatory frameworks will come down the line is essential to the long-term competitiveness of a company. Today’s strong signals offer clarity and assurance to corporations looking to accelerate away from fossil fuels and towards deeper decarbonisation of their models, bringing with it investment in low carbon systems and technology.
“There is still some progress to be made on aligning financial flows with the commitments to the clean energy transition. Businesses will be looking to the meeting of the G7 Finance Ministers in May to ensure their actions are fully coherent with these plans since financial commitments, including public investments and subsidies, will need to be fully aligned with the ambitions to accelerate the phase out of unabated fossil fuels.”
