Geneva, 5th February, 2015 – Today, Leaders of The B Team running some of the world’s largest companies, called upon world leaders to commit to a global goal of net-zero greenhouse-gas (GHG) emissions by 2050 – and urged business leaders to match this ambition by committing to bold long-term targets. The B Team’s ambition builds on recent talks …
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Using information in the Intergovernmental Panel on Climate Change (IPCC) Fifth Assessment Report, the 2014 United Nations Environment Programme’s Emissions Gap Report, and other scientific literature, a new briefing note from Climate Analytics details timeframes for that goal. For a 66 percent likelihood of avoiding 2 degrees of warming by century’s end, GHG emissions would have to be 40–70 percent below 2010 levels by 2050 and would need to reach zero some time between 2080 and 2100, but energy and industry emissions of CO2 would have to reach zero no later than 2075 and perhaps as soon as 2060.
At the outset of the Geneva talks, The B Team, a group of leaders from the business and nonprofit sectors founded by Sir Richard Branson, referenced the 66 percent chance in endorsing a net zero emissions goal: “The B Team view a 1-in-3 chance of failure as an unreasonable risk scenario carrying significant cost implications, strengthening the business case for achieving net-zero GHG emissions by 2050.”
"Momentum is already growing in finance, business and political circles for a net zero goal," wrote Mary Robinson, the United Nations Secretary General's special envoy on climate change, in the foreword to The Business Case for Adopting the Long-Term Goal for Net Zero Emissions, a report published by Track0.org.