Amidst the global climate action dialogue, ICC’s presence at COP28 in Dubai is not merely symbolic but instrumental. Team ICC is leading ICC’s engagement in the official programmes of UNFCCC, COP28 Presidency, and High-Level Climate Champions. As the official focal point for business and industry, ICC organised daily briefings and unveiled groundbreaking reports, emphasizing its commitment to climate negotiations and the Paris Agreement.
The ICC COP28 team managed its most extensive presence to date in the COP28 Blue Zone, hosting the first-ever Trade House pavilion in collaboration with the World Trade Organization, International Trade Centre, and UNCTAD. As trade emerges as a central theme at COP28 for the first time, ICC remains at the forefront, shaping dialogues and contributing to the global effort for a sustainable future.
3 things business want from COP28
- An ambitious and forward-looking Global Stocktake (GST)
A masterplan to radically scale up mitigation efforts and drive a responsible energy transition worldwide.
- An action plan to transform climate financing arrangements.
A practical plan that harnesses business as a partner to tackle growing challenges to the affordability and availability of climate finance in many emerging markets.
- Full and swift operationalisation of Article 6 of the Paris Agreement
Decisions that help lay the foundations for a high-integrity, cross-border carbon market, capable of accelerating emissions reductions at the lowest possible cost to businesses and consumers.
ICC reports and papers launched at COP28
ICC Principles for Sustainable Trade: Wave 2
ICC has published its ICC Principles for Sustainable Trade: Wave 2, which provides a frame to assess both the environmental sustainability of a transaction, and how it supports socio-economically sustainable development. It is designed to support business in meeting both the Paris Agreement objective of limiting global warming to 1.5°C above pre-industrial levels, and the UN Sustainable Development Goals.
Proposals for effective carbon pricing
Leakage and linkage considerations
Since 2021, ICC has drawn on the experience of its global members to develop core principles and guidance for the effective design of carbon pricing instruments. In this third report, building on our past work, ICC provides guidance to governments and policymakers to address carbon leakage, promote linkage for greater international cooperation and make carbon pricing systems more efficient.
Key enablers for a circular economy
The circular economy is pivotal for achieving climate and sustainable development goals and must be included in the COP28 outcomes. With this paper, ICC, on behalf of the global business community, underscores the importance to move from the ‘take-make-use-waste’ model to a sustainable, resource-efficient circular economy. Scaling these efforts requires a more supportive environment from governments to enable a faster and broader transition.
How competition policy acts as a barrier to climate action
Taking the chill factor out of climate action
A progress report on aligning competition policy with global sustainability goals
In 2022, ICC called on governments, legislators and competition authorities to maximise efforts in aligning competition policies with global sustainability goals. While barriers to business collaboration in the fight against climate change persist in 2023, the tide is slowly turning. A new ICC progress report presents a snapshot of key developments in the antitrust competition space and concludes: more can and needs to be done.
