This archive report was first published on 26 October 2021.
With the Climate Change Conference (COP26) set to take place in Glasgow, Scotland, from October 31 to November 12, 2021, the private sector is being urged to contribute to the global effort to combat climate change.
According to Article 2 of the Paris Agreement, the private sector has a crucial role to play in enhancing the implementation of the convention, including its objective of strengthening the global response to the threat of climate change.
The sector is being called upon to rethink and re-engineer its production value chains to reduce greenhouse gas emissions and promote sustainable development, as well as support governments in preparing and communicating nationally determined contributions (NDCs).
Private sector companies are also being encouraged to invest in green economy initiatives, sustainable consumption patterns, and green finance initiatives, as well as champion the role of conservation, sustainable management of forests, and enhancement of forest carbon stocks.
As emphasized in Article 6 of the Paris Agreement, the private sector can also contribute to the implementation of the agreement through voluntarily co-operative approaches that involve the use of internationally transferred mitigation outcomes towards NDCs.
Nancy Marangu is a communication and public policy analyst.
