Climate Barometer shows increasing confidence from companies and governments in global commitment to tackle climate change

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12 October 2015

LONDON: Business’ and governments’ confidence in the benefits and feasibility of a low carbon economy is rising after Climate Week NYC 2015 and recent climate announcements from major corporations and political leaders, The Climate Group’s ‘Climate Barometer’ shows. The survey of international leaders from The Climate Group’s high-level network indicates that average government confidence rose from 55.2% to 59%, while business confidence increased from 44.8% to 50%.

The average confidence between all the climate actors remains high at 54.5%, compared with 54.3% last month. However, confidence levels within international institutions surveyed shows some fluctuations: after almost doubling in last month’s survey, reaching 62.9%, it has now marginally dropped to 57.2%.

Mark Kenber, CEO, The Climate Group, attributes businesses’ and governments’ increasing confidence at least in part to the momentum created by Climate Week NYC: “In New York, international leaders from all sectors set out the powerful social and economic case for shifting to a low carbon economy,” he said. “However, we are not yet ahead of the curve. International organizations are acknowledging that work still needs to be done to be sure of a strong and ambitious climate deal in Paris.”

Climate Week NYC saw a series of important announcements. Leading corporations such as Nike, Goldman Sachs and Procter & Gamble agreed to switch to 100% renewable electricity as part of The Climate Group’s RE100 program. RE100 sends a market signal that there is “new business in town, that rapidly transitioning to 100% renewables is good business for a lot of people”, commented Hannah Jones, Chief Sustainability Officer and Vice President of the Innovation Accelerator at Nike, Inc.

During Climate Week NYC, Pope Francis visited New York to launch his message about “the urgent challenge to protect our common home” which he wrote about in his recent encyclical .

Another recent cause for optimism is the recently published new draft text by the UN for the climate negotiation, slimmed down to 20 pages from the initial 85 pages after the latest discussions. Last June in Bonn, officials discussed extensively how to find a compromise and streamline the text, but were only able to cut 5 pages.

See the Climate Barometer here

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