Resident Coordinator's remarks at the webinar "Build forward better: Turning the Climate Crisis into Business Opportunities"

Remarks as delivered by UN Resident Coordinator in Thailand at the webinar "Build forward better: Turning the Climate Crisis into Business Opportunities".

On behalf of the United Nations, let me extend a very warm welcome to you all.

I am delighted to be joining the Global Compact Network Thailand along with the UK Embassy to co-host this webinar on turning the climate crisis into business opportunities given the fast-approaching COP26, which is just over a month from now in Glasgow.

The science is clear – the climate crisis is advancing at an alarming rate and it will affect all of us.

Governments need to set ambitious climate targets, but it is also critical that all sectors, including the business community, do their part to achieve net-zero emissions.

In our last webinar, we discussed the race to zero, science-based targets and what it takes for a business to be a sustainable net-zero emitter.

In today’s session, we move the conversation forward to understand the perspective of the COP26 presidency, as well as the policy framework needed to increase ambitions, drive transformation, and incentivize new industries in support of a decarbonized Thailand.

Both webinars help pave the way towards the GCNT Forum on 11 October, where the private sector has the opportunity to lead Thailand’s efforts by committing to ambitious reductions in CO2 emissions.

As you know, prior to the pandemic, economic growth and carbon emissions have traditionally grown proportionally, leading to a possible 2.7 degrees rise in temperatures which the UN Secretary-General has called a “catastrophic pathway”.

At the heart of that message is that it is not too late to chart a smarter, more sustainable course.

In the continuing recovery amid the pandemic, knock-on emissions reductions are now returning to normal levels as economic activity picks up globally and across the region.

The key difference this time around will be the kind of investment that we collectively make to shape the recovery. Adopting pathways that are low-carbon dependent through technology, efficiency and innovation will determine whether we meet the 1.5-degree goal of the Paris Agreement.

We need to seize this opportunity to build forward for a greener and more equitable new normal.

A recent UN report made clear that a cut in emissions by about 45% by 2030 could achieve the 1.5-degree goal of the Paris Agreement. 

However, the current climate commitments by countries across the globe, including Thailand, suggest that the planet is on a pathway to see an actual increase in emissions of 16% by 2030.  This means that each of us needs to set much more ambitious targets for mitigation, backed up with credible actions to achieve carbon neutrality by mid-century.  

I believe that this is an opportunity to shape the recovery and demonstrate to the region and beyond the role that the private sector can play to move towards carbon neutrality in Thailand.

The UN in Thailand is also engaged in dialogue with investors and bankers to scale up financing in support of sustainability. Just yesterday, more than 40 investors and bankers committed to conduct business responsibly that will help Thailand drive towards sustainability and advance the SDGs and the Paris Climate Agreement.

This should translate into increasing investments into businesses like yours, to drive the process of transformation.

Just as we engage with you, we will also be working with experts and advocates who are leading on biodiversity, to protect the 468 species and their habitats currently threatened with extinction in Thailand.

The UN brings international expertise and networks to the table, which rely on the private sectors and other stakeholders to work hand in hand for sustainable, resilient, and carbon-neutral growth, bringing prosperity while also protecting this beautiful planet.

Let’s own this ambition. The time is now to take action in a journey in which we can both learn and inspire each other. Thank you.