The Glasgow Climate Pact, created as a result of the COP26 conclusion, set the global agenda on climate change for the next decade to try and keep global warming within 1.5ºC, which scientists say is required to prevent a "climate catastrophe". Current pledges, if met, will only limit temperature rise to about 2.4ºC. The goal is to keep cutting emissions until we reach net zero by 2050.
In the aftermath of COP26, how can Malaysian companies best navigate the recent developments and chart the right course of action towards carbon reduction?
We speak to Faroze Nadar, Executive Director at UN Global Compact Network Malaysia, to better understand what Malaysian companies should pay attention to.
00:00 - What are the biggest takeaways from COP26 for Malaysian companies?
01:55 - Following COP26, what are the latest policy shifts that Malaysian companies should pay attention to?
05:11 - Moving forward, what expectations will stakeholders have for Malaysian companies?
08:01 - What are the key steps Malaysian companies should take now?
14:57 - Should all Malaysian companies be setting net-zero targets now?
21:00 - Finally, how would you summarise the top 4 calls to action for Malaysian companies?
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UNGC Malaysia has also recently launched the MYClimateAction guide, a comprehensive Malaysian-centric resource which aims to equip Malaysian companies to kickstart their journey on climate action. It includes a toolkit introducing the total climate management approach. It also includes five case studies from Malaysian companies, featuring their journey from the strategic, operational and financial perspective. The goal is to provide sustainability practitioners with tools and examples to engage decision-makers.
In addition, they launched the CEO Guide to Sustainability Centric Decision Making – Malaysia, consolidating insights from CEOs on the challenges and leadership drive needed for climate transition among corporates. Recently, they also launched the Malaysian Businesses for Positive Climate Actions – A CEO's Guide in collaboration with Nottingham University Business School, to provide an easy reference to leaders of businesses who wish to transition their companies towards a net-zero carbon future.
Footnotes :
Reuters, World heading for 2.4C of warming after latest climate pledges - analysts. 2021