Road to Regulation

This year, the first Global Stocktake (GST) must enable the groundswell of voluntary action from non-state actors to turn into the ground rules for a just and resilient net-zero economy. 

The significant momentum of voluntary action mobilised through Race to Zero has helped build common global norms, aligned multiple different actors (business, cities, financial institutions, healthcare providers, states, regions and academia), behind common criteria, and demonstrated that climate action is both feasible and desirable. 

However, voluntary action has limits without aligned rules and economic incentives to create a just and resilient, net zero transition. Policies and regulations can help to create a level playing field for non-state actors (NSAs) and facilitate an enabling environment in key sectors. Fair and clear groundrules can create certainty to unlock private sector investment, and create a smooth path for climate innovation and transferral of technical assistance.

This year we have already seen momentum growing - with the launch of the ISSB’s sustainability disclosure standards to the announcement of a Net Zero Authority in Australia to the EU’s Net Zero Industry Act, and the phase out of fossil fuel subsidies in Canada. 

We have also seen more action from non-state actors to align their own policy engagement and advocacy with their net-zero ambition, as demonstrated through Race to Zero’s 5th P (Persuade) Handbook and We Mean Business Coalition’s Responsible Policy Engagement (RPE) Framework. 

Now, in response to the GST and to achieve our collective goal to halve emissions by 2030, we need non-state actors to support turbocharging the transition from voluntary action to clear and fair ground rules for a just and resilient net zero economy. 

This event will focus on the role of NSAs and explore:

• How do we support the movement from voluntary action, to net zero policy and regulation? 
• How can we use the GST & COP28 to activate the Road to Regulation? 
• How can organisations work together to enable policy / regulatory partnerships beyond COP28?