ICC delivers Business and Industry closing statement at Bonn Climate Change Conference

On behalf of the global business community, ICC delivered the closing statement at the pivotal preparatory meeting for COP31, urging governments to unite around a global path toward practical implementation that delivers meaningful progress on mitigation, finance, and adaptation commitments.

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Thank you Chair.

We would like to thank the SB Chairs and Parties for their hard work.

We have seen significant divergent views here in Bonn, that seem difficult to bridge.

On mitigation, we are deeply concerned by the lack of progress on the MWP.

Mitigation remains central to the objectives of the Convention and the Paris Agreement, and their implementation. It is critical to maintain a space to identify opportunities and barriers for action, and accelerating the implementation of the first GST outcome. More than ever, business action depends on sustained signals in this regard. We urge Parties to unite and translate the MWP into a platform that drives real impact.

But let us be clear: without finance we will not be able to embark on the transformations needed to put commitments into action.

The private sector has an important role to play in scaling up overall climate finance to achieve the NCQG. But there is an urgent need to look at the difficult investment climate in emerging and developing markets.

A serious debate on how to create the right domestic enabling environments to attract the level of investment needed and address regulatory and operational barriers must be front and centre in the future finance work programme.

COP31 must also deliver further progress on adaptation, Article 6, trade, just transition and agriculture.

Excellencies, distinguished delegates,

The challenges in front of us are immense.

But they carry a unique opportunity - to forge a new path for global cooperation, where we all come together as united nations, cities, businesses and people - and lead the world towards peace, stability and prosperity for all.

Business is ready to work with the incoming COP31 Presidencies and all Parties and stakeholders towards that.

Thank you.