Natural Resources of Azerbaijan, speaks during the first session of the Petersberg Climate Dialogue on April 25, 2024 in Berlin, Germany. The two-day event is a precursor to the UNFCCC COP29 climate conference that is scheduled to take place in November in Azerbaijan.
Launched in 2010 by former German Chancellor Angela Merkel, the Petersberg Climate Dialogue is held annually in Berlin to help countries prepare the ground for successful UN climate negotiations. Leaders at this year’s meeting were clear that the next set of NDCs must operationalise the pledge made at COP28 to transition the world away from fossil fuels and towards renewables and energy efficiency, while creating new global economic momentum.
As the head of a business coalition, I couldn’t agree more. Business is responsible for most of the world’s emissions, but it also holds many of the keys to reducing and stopping these emissions - whether in development, investment and use of new technologies, or offering leadership that can give markets and policymakers the confidence to act.
Every day, companies deal with market and geopolitical risk. What they struggle with is constant policy change. Too many governments are taking a start-stop approach to decarbonizing the economy — agreeing ambitious targets and policies, before rolling them back sometimes only months later. For businesses to be successful and create stable, quality jobs, they need policy coherence, certainty and clear, unambiguous regulatory frameworks.
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