Multinational enterprises (MNEs) provide both a fundamental risk to and an opportunity for climate change mitigation. The climate ambitions of MNEs will affect the environmental performance of countries around the world. As a leading actor, proactive MNEs can impose sustainability standards or encourage green technology transfers that, in some cases, could affect millions of producers and accelerate the climate transition. However, obstructive MNEs may equally hold back any progress to reduce a country’s emissions via inaction or by actively resisting, obstructing, or lobbying against change. It is critical for policymakers around the world to consider the role that MNEs play in climate change mitigation strategies, monitor their current commitment to transition their supply chains to net-zero emissions by 2050, and adopt the necessary measures to accelerate this transition. To guide this endeavor, the World Bank, in partnership with CDP (formerly the Carbon Disclosure Project) have developed a new report “The Effect of Multinational Enterprises on Climate Change: Supply Chain Emissions, Green Technology Transfers, and Corporate Commitments” that provides insights into MNEs’ impact on climate change.
At this online seminar, Victor Steenbergen, Senior Economist, Investment Climate Unit, presented the main findings of the report.
8am-9am, Friday July 21, 2023 (Japan Standard Time)
Senior Economist, Investment Climate Unit, World Bank