What the Paris talks mean for businesses and the potential for green growth

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Former UN climate chief, Yvo de Boer, says progressive companies must do more to help politicians understand the business landscape

Clearly, we need a migration away from fossil fuels and towards innovative upgrades in technology, skills, policies and business models. Also, an aligned public consciousness is required for the transition to a green growth pathway. In spite of global wealth increase, the gap between the rich and the poor is widening, so greater emphasis must be placed on finding a different model of economic growth that is more financially, economically, environmentally and socially responsible.

So we have to find a better synergy between environmental and economic goals. The Global Green Growth Institute, the organization I work for is a good example. We are a member-based international organization founded to support developing and emerging countries in exploring how green growth can help achieve economic growth and development objectives. We are conducting 37 programmes in 22 countries. We begin by doing an assessment of what green growth would mean for them and assess the risks and opportunities related to green growth. We then work with countries to implement strategies in four main areas: energy, cities, water and land use. We work with governments to help them achieve their growth goals of real inclusive and sustainable change for their people and the environment and help countries to develop green growth plans that are "bankable" - projects that meet investor criteria and that will be implemented.

In fact, investors and businesses have a crucial role to play in driving low-carbon growth at COP 21.

A Paris outcome could help to find solutions for national and international businesses. It could formulate strong ambitions for international companies by giving carbon the price it deserves and bringing coherence or a level playing field to international climate action.

As for national companies, they could reduce risk, enhance rewards and create new finance solutions that draw smaller projects into the market based on the commitments countries make in Paris. If we see progress on both fronts, businesses will be empowered to contribute to profitable green solutions, without being asked to do the impossible.

Part of the issue is that government representatives, often from the diplomatic and environmental domains negotiating the Paris outcome, are shaping a business landscape they do not fully understand. In the interest of all of us, businesses need to offer Paris negotiators practical business solutions that will give innovation both the help it needs and the chance it deserves.

Yvo de Boer is director-general of the Global Green Growth Institute and former executive secretary of the United Nations Framework Convention on Climate Change

This article is part of BusinessGreen's Road to Paris Hub, hosted in association with PWC.

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