The UN Global Compact has issued a call to action for the private sector to step up and accelerate the implementation of Nationally Determined Contributions (NDCs). This call to action was made during the 13th Annual High-Level Meeting of Caring for Climate, which brought together business and government leaders, civil society, and the UN to explore ways to strengthen public-private collaboration for climate action. The meeting emphasized the urgent need for a quantum leap in ambition and implementation to meet the 1.5°C goal, highlighting the intensifying climate impacts and rising costs of inaction. Participants showcased practical solutions, demonstrating that bold climate action is not a cost but a viable pathway to long-term profitability, resilience, and shared prosperity. The discussion focused on policy and finance mechanisms to unlock private investment in national transitions, de-risk capital flows, and build credible pipelines of bankable projects, particularly in emerging and developing economies. The UN Global Compact aims to advance an inclusive, 1.5°C-aligned energy transition, make adaptation a core business and finance priority, and mobilize finance for a just and credible transition to meet global energy targets and needs while prioritizing building resilience. The private sector has a decisive role in supporting countries to over-deliver on their new NDCs and keep the 1.5°C limit within reach. With credible net-zero transition plans, the private sector can deliver real and rapid emissions cuts, shift finance from fossil fuels to renewables, and build resilience to climate shocks while boosting growth and competitiveness. The Caring for Climate initiative provides a platform for dialogue between CEOs, civil society, the UN, and policymakers to accelerate progress toward the Paris Agreement goals. The initiative emphasizes the economic case for climate action, which is stronger today than five years ago, with 88% of CEOs recognizing this and 99% planning to maintain or expand their climate, environmental, and social commitments.
