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Decarbonisation and energy
Providing universal access to modern energy services while drastically reducing the world’s dependency on carbon-based energy.
We are working across seven systems transformations needed to achieve the SDGs and accelerate sustainable business beyond 2030. Energy is central to our modern economy. While energy access is a cornerstone for economic and social development, it is also the dominant contributor to climate change, accounting for about 60 percent of total greenhouse gas emissions. Climate change represents the single biggest threat to development and jeopardises the lives and livelihoods of the poorest and most marginalised people.
An effective energy system supports inclusive economic development and growth, offers secure and reliable universal access to energy and is environmentally sustainable. While limiting global temperature rise to 1.5°C is still feasible, it will require rapid and far-reaching transitions in energy, land, urban and infrastructure – reducing emission in all sectors. Transitioning to a low-carbon economy will require significant capital and contributions from companies across all industries.
Decarbonisation and the energy transition will have an evident impact on the following SDGs:
The Climate and Energy Benchmark aims to further decarbonise the economy and ensure a climate resilient future to meet the ultimate end goal- the Paris Agreement. WBA has formed a strategic partnership with CDP looking at current and future action and impact to assess and compare performance of companies across high-emitting industries, among others oil and gas, electric utilities and automotive. The first benchmark to be published later this year will look at the keystone companies in the automotive sector significant to a low carbon future for us all.
Aviva is one of the world’s largest insurance and asset management companies, its history tracing back more than 300 years. It has operations in 16 markets around the world, but through its investment portfolio, Aviva’s reach extends to a broader and larger group of consumers. The company is a LEAD member of the Global Compact; a founding member of both the UN Principles of Responsible Investment and the UN Sustainable Stock Exchange Initiative. It is also a frontrunner in responsible investments, using its influence to support more sustainable business and ultimately a more sustainable economy and society. Aviva is an active contributor and user of different corporate sustainability benchmarks, including a founding member of the Corporate Human Rights Benchmark. Aviva’s CEO Mark Wilson is a member of the Business and Sustainable Development Commission (BSDC) and is personally committed to driving forward the sustainable development agenda and the creation of the WBA.
The Business & Sustainable Development Commission (BSDC) aims to make a powerful business case for achieving a sustainable, inclusive economy. Its flagship report Better Business, Better World, launched in January 2017, maps the economic prize for companies that align with the SDGs, and shows how to achieve them. The report includes the creation of SDGs benchmarks as one of the key recommendations. The Business Commission aims to make a powerful business case for achieving a sustainable and inclusive economy, if the UN Sustainable Development Goals are achieved. In its flagship report, Better Business, Better World, the Commission describes how business can contribute to delivering these goals. Chaired by Lord Mark Malloch-Brown, the Commission include 37 leaders from business, finance, civil society, labour, and international organisations from around the world.p>
Index Initiative is a centre of expertise in benchmarking corporate performance against stakeholder expectations. It seeks to propel the use of benchmarks to engage and bring purpose and clarity on the role of companies in contributing to the SDGs closest to their core business. A non-profit based in Amsterdam, The Netherlands, Index Initiative’s research and benchmarks are free and accessible to all. Index Initiative will conduct the global consultation on the World Benchmarking Alliance.
The United Nations Foundation builds public-private partnerships to address the world’s most pressing problems, and broadens support for the United Nations through advocacy and public outreach. Through innovative campaigns and initiatives, the Foundation connects people, ideas, and resources to help the UN solve global problems. The Foundation was created in 1998 as a U.S. public charity by entrepreneur and philanthropist Ted Turner and now is supported by philanthropic, corporate, government, and individual donors.