Business leaders call for global action on electrification and heavy industry ahead of COP31
Corporate executives have urged the COP31 presidency to accelerate decarbonization efforts to keep global warming below 2°C.
A coalition of business leaders has petitioned the COP31 presidency, calling for urgent policy interventions to curb global temperature rise. The signatories warn that without proactive measures, global warming is on track to reach 2.6°C by 2100, assuming current technology adoption remains tied exclusively to cost competitiveness.
The letter advocates for systemic changes in the heavy industry sector and a transition to clean electrification. The executives argue that reliance on market-driven technological adoption is insufficient to meet international climate targets, necessitating stronger state-led frameworks to accelerate the energy transition.
By highlighting the limitations of current progress, the group seeks to shift the COP31 agenda toward tangible industrial decarbonization policies. The statement underscores that bridging the gap between current trends and the 2°C goal requires structural policy shifts rather than incremental market changes.