Croda International Plc. called for the leaders of G20 member nations to keep up with Paris Agreement’s 1.5°C goals.
In an open letter signed by over 600 businesses from across the G20 countries and organized by the We Mean Business Coalition, Croda urged G20 to demonstrate global leadership to decisively address climate change as these countries account for approximately 90% of global GDP and almost 80% of global trade and greenhouse gas (GHG) emissions.
Signatories to the letter advised G20 to strengthen Nationally Determined Contributions (NDCs) in line with at least halving global emissions by 2030 and committing to achieving net-zero emissions by no later than 2050.
They ask the group to commit o ending new coal power development and financing immediately and develop plans to phase out coal-fired power generation by 2030 for advanced economies, and 2040 for other countries.
“Now is the time for us all to convert ambitious climate goals into action and drive emission reduction programs across countries, economies, and supply chains,” said Croda CEO Steve Foots.
