10 December 2014: Nearly 300 CEOs and other participants from the private and public sectors from over 30 countries convened for a two-day Caring for Climate (C4C) Business Forum on the sidelines of the Lima Climate Change Conference. The Forum showcased business and investor contributions to tackle climate change and shared solutions, commitments and plans on corporate climate issues from carbon pricing to responsible lobbying.

Co-organized by the UN Global Compact, the UNFCCC and the UN Environment Programme (UNEP), the annual Business Forum met from 8-9 December 2014 in Lima, Peru.

A panel discussed how C4C companies are transforming climate challenges into opportunities and highlighted actions that business can implement to generate ambition in the lead up to Paris. Other sessions covered: responsible corporate engagement in climate policy; mitigation and finance; adaptation; and science-based targets to ‘set the stage for an ambitious climate agreement in 2015.’

A number of resources and initiatives were launched at the forum, including: a ‘Business and Investor Working Group on Carbon Pricing,’ which aims to deepen corporate engagement on carbon pricing and support companies and investors as carbon market advocates; a Caring for Climate Progress Report 2014, which highlights signatory performance to date and emission reduction efforts; a status update on responsible policy engagement, which features companies that have committed to the ‘Guide on Responsible Policy Engagement in Climate Policy’ and highlights progress toward jointly established guidelines for responsible climate policy lobbying; and a ‘Mind the Science, Mind the Gap’ initiative that asks companies to adopt ambitious emission reduction targets.

Through C4C, the private sector is showing that “affordable, scalable solutions are available that will help to leapfrog to cleaner, more resilient economies,” Lila Karbassi, UN Global Compact, said at the forum.

Closing the forum, UN Secretary-General Ban Ki-moon called on participants to “lead by example,” set a “meaningful internal carbon price,” advocate for responsible policies and publicly report on progress. He called on businesses to become “stronger champions of climate action” by: setting high time-bound targets to reduce emissions in line with the 2°C goal; becoming ‘carbon pricing champions’ with the aim of having 100 such champions by Paris in 2015; and speaking out for smart policies to ensure sustainable growth.

Ban launched Caring for Climate in 2007 to advance the role of business in addressing climate change. It is endorsed by nearly 400 companies from 60 countries. [C4C Business Forum Website] [UN Global Compact News Story] [UNEP Press Release][Statement of the UN Secretary-General] [IISD RS Coverage of the Lima Climate Change Conference]