Join Us by Signing onto Global Citizen's Power Our Planet Private Sector Declaration
About
For the first time in 25 years, extreme wealth and extreme poverty have sharply increased simultaneously, while developing countries do not have access to the financing needed to invest in climate action and poverty alleviation programs.
Barbadian Prime Minister Mia Mottley has spearheaded a radical blueprint - the Bridgetown Initiative - to increase fair and equitable access to capital and concessional financing for ALL countries in need, poor and vulnerable ones, and has pushed for a summit to find ambitious solutions to fund global development challenges such as climate change and pandemic preparedness.
As a response, French President Macron, in cooperation with Prime Minister Modi of India, has invited global leaders to a summit on June 22nd and 23rd in Paris. This is an opportunity we want to seize through a global public campaign, Power Our Planet, to help instill ambition and call for urgent action, not only at the Summit but throughout key decision-making moments in the year, up until COP28.
As part of our Power Our Planet campaign, we’ll activate an in-person event in Paris on the eve of President Macron’s Climate Finance Summit to rally commitments and pledges geared at ending extreme poverty and closing the climate funding gap. At a 3-hour outdoor event in the heart of Paris, a mix of artists, activists and world leaders will take the stage to amplify our message: We must Power Our Planet NOW. The event will take place in an iconic location and be live streamed across the world. It will serve as an earned media hook to secure a final round of pre-summit global media, featuring performance highlights, citizen voices, private sector commitments, all live-streamed and made available to key global and regional media outlets like AP, AFP, Reuters, CNNi, BBC.
What Success Looks Like
Global Citizen believes that a comprehensive digital and advocacy campaign, along with a large public strategic event in Paris, can drive immediate action and set the stage for lasting climate reform.
Additionally, raising public understanding of the threat that growing inequity and climate change pose is critical to the success of this effort. The public must be made aware of the urgency and importance of these issues and how their support can help bring about change. By creating a groundswell of support and public pressure, we can motivate decision-makers to take bold actions that will have a lasting impact. Through media engagement, community outreach, and targeted advocacy, we can rally the public to join us in this fight for a fairer and more equitable world.
The campaign will drive social media and traditional media coverage, cut through the noise of other events, elevate activist voices and national leaders, offer a platform for companies who want to make commitments, and drive support from global leaders.
The Paris Summit will be a major milestone to mobilize governments ahead of the G20 and annual meetings. While the Paris Summit will not achieve everything, it should provide a clear runway for achieving outcomes at the India and Brazil G20s. We have short and long-term goals for the next two years, but the Paris Summit is our best opportunity to get a groundswell of support for climate action.
Private Sector Leadership Needed: Four Step Call to Action
STEP 1
Set science-based targets for scopes 1-3 and join the Official UN Race to Zero. All targets should be in line with the Science Based Target initiative's Net-Zero Standard with interim targets to be 1.5C-aligned and reach net zero by 2050 or earlier.
STEP 2
Publish a time-bound action plan for climate transition that publicly demonstrates clear climate action examples. A clear transition plan should outline how an organization will pivot its existing assets, operations, business model, and governance (including remuneration and policy engagement) towards a net-zero goal by 2050. It should also share progress on the goals through data points like the following:
- Reduction in greenhouse gas emissions from the previous year.
- X number of buildings are powered by renewable energy.
- Percentage of total energy consumption that comes from renewable sources.
- Percentage of products or services that have been assessed for their environmental impact.
STEP 3
Make transformative investments in low income and climate impacted countries. Address the global financing shortfall through projects that address needs in clean renewable energy, climate adaptation and resilience, education, technological innovation, health, and agriculture.
STEP 4
Join the High Quality Carbon Credit "Buyers Club". Corporate buyers of such carbon credits should align themselves with the Voluntary Carbon Markets Integrity Initiative (VCMIi) code of practice, including ensuring that credits bought are aligned with ICVCM guidance.
FOR INVESTORS:
Include "Natural Disaster" clauses in loans to developing countries. This would enable countries to pause debt repayments in the event of calamities like cyclones and hurricanes. This would free up funds during a crisis to speed up the recovery process without adding the burden of mounting debt, which can consume a significant portion of public budgets, leaving little for the recovery of crucial sectors like health and education.
Transformative Investments Companies Can Make
- Capital deployments to emerging markets to invest in local energy transformation and reduce energy poverty
- Creation of local jobs through community-based carbon credits and renewable energy projects
- Investment in climate adaptation technology for smallholder farmers in climate vulnerable communities
- Infrastructure projects built to deliver training and employment opportunities for youth
- Invest in infrastructure and technological innovation in local education systems
- Electrification of health-care facilities to contribute to health care system improvement
Where Additional Private Sector Leadership is Needed
Natural Disaster Clauses
Investors can additionally support through:
Including “Natural Disaster” clauses in their loans to developing countries. This would enable countries to pause debt repayments in the event of calamities like cyclones and hurricanes. This would free up funds during a crisis to speed up the recovery process without adding the burden of mounting debt, which can consume a significant portion of public budgets, leaving little for the recovery of crucial sectors like health and education.
Creation of High Quality Carbon Credit “Buyers Club”
Companies can also support through:
Establishing a buyers club for high quality carbon credits. Corporate buyers of such carbon credits should align themselves with the Voluntary Carbon Markets Integrity Initiative (VCMIi) code of practice, including ensuring that credits bought are aligned with ICVCM guidance.