Duration: 00:01:26
In 2020, decarbonisation rate in Asia Pacific was 0.9% (below the global average of 2.5%). To achieve the 1.5°C target and reach Net Zero, the region needs to urgently accelerate its decarbonisation.
This requires a net zero transformation.
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Transitioning to carbon neutrality will require a rewiring of the entire economy.
From a country perspective, Vietnam has recently made a stronger commitment to tackle climate change in COP26. However, the reality is that a nation cannot meet its net-zero commitment without ambitious action and systemic change.
The race to Net Zero is both a responsibility and an opportunity for businesses. Businesses making early commitments will enjoy a first mover advantage, positioning themselves favourably with changing consumer attitudes, new technologies and new markets.
Business must partner with Government to drive fundamental change - COP26 has highlighted this.
This is not a journey that governments can undertake alone. Businesses have a crucial role to play and it’s timely for Vietnam to adopt a partnership-led approach to reach our Net Zero goal.
Now is the golden opportunity for green growth. Businesses have a responsibility to accelerate transformation to net zero.
Leaders need to take transparent and vocal ownership of their organisation’s commitment to Net Zero.
Focus on high impact areas: Operating model, rebalancing supply chains, innovation and talent
Demonstrate progress and performance against Net Zero targets requires a comprehensive approach.
Innovative and sustainable partnerships between all stakeholders with public and private investment are essential.
Sources:
bp, World Bank, OECD, UNFCCC, PwC data and analytics
Notes:
GDP is measured on a purchasing power parity (PPP) basis.
