OpenLetter 2025

1. Climate Policy Initiative, “Global Landscape of Climate Finance 2024: Insights for COP29”, https://www.climatepolicyinitiative. org/publication/global-landscape-of-climate-finance-2024/; Over $700 billion annually has come from the private sector alone. 2. World Economic Forum, Alliance of CEO Climate Leaders, https://www.weforum.org/press/2024/09/world-s-leading-ceo- climate-alliance-slashes-emissions-by-10-while-achieving-18-revenue-growth-in-three-years/. 3. IEA, “Energy Technology Perspectives 2024”, https://www.iea.org/reports/energy-technology-perspectives-2024. 4. IRENA, “Renewable Power Generation Costs in 2023”, https://www.irena.org/Publications/2024/Sep/Renewable-Power- Generation-Costs-in-2023; The global levelized cost of electricity from solar PV was 56% less than the weighted average fossil fuel-fired alternatives in 2023. 5. BCG, “The Case for Regenerative Agriculture in Germany – and Beyond”, https://web-assets.bcg. com/20/43/809680664811998e155baeee1e30/the-case-for-regenerative-agriculture-mar2023.pdf 6. EMF, 23% of the global fashion industry forecast to be circular by 2030. 7. BCG, Global Resilience Partnership and USAID, “From Risk to Reward: The Business Imperative to Finance Climate Adaptation and Resilience”, https://www.globalresiliencepartnership.org/wp-content/uploads/2023/12/from-risk-to-reward-report.pdf. This 2023 study among leading companies showed benefits-to-costs ratio of $2-6 for every $1 invested in water resilience. Benefits include cost savings gained through increased resource efficiency and revenue loss avoided through continued operations amid climate shocks, while not considering broader social impacts or mitigation benefits. 8. IEA, “Energy security in energy transitions”, https://www.iea.org/reports/world-energy-outlook-2022/energy-security-in-energy- transitions. 9. World Economic Forum, “The future of work in the green economy”, https://www.weforum.org/stories/2023/06/the-future-of- work-in-the-green-economy/. An estimated 10.3 million additional net jobs will be created by 2030 vs 2023; HSBC, A just and inclusive climate transition. 10. The Lancet, “The public health co-benefits of strategies consistent with net-zero emissions: a systematic review”, https://www. thelancet.com/journals/lanplh/article/PIIS2542-5196(24)00330-9/fulltext. Cleaner air and active transport policies are projected to reduce mortality rates by more than 1.5% on average. 11. World Economic Forum, “The Cost of Inaction: A CEO Guide to Navigating Climate Risk”, https://www.weforum.org/ publications/the-cost-of-inaction-a-ceo-guide-to-navigating-climate-risk/. 12. UNEP , “Emissions Gap Report 2024”, https://wedocs.unep.org/bitstream/handle/20.500.11822/46445/EGR2024_KMEN.pdf. Warming is expected to exceed 2°C around mid-century, and 3 °C by 2100. 13. IPCC Sixth Assessment Report, “Climate Change 2022: Impacts, Adaptation and Vulnerability”, https://www.ipcc.ch/report/ar6/wg2/. 14. WRI, “How to De-risk Low-carbon Investments”, https://www.wri.org/insights/de-risking-low-carbon-investments. 15. World Economic Forum and BCG, “Bold Measures to Close the Climate Action Gap”, https://www.weforum.org/publications/ bold-measures-to-close-the-climate-action-gap/. 16. Energy Transitions Commission, “Streamlining Planning and Permitting Can Accelerate Wind and Solar Deployment”, https:// www.energy-transitions.org/wp-content/uploads/2023/01/Barriers_PlanningAndPermitting_vFinal.pdf. 17. European Investment Bank, “Investing in nature-based solutions”. 18. UNEP , “Adaptation Gap report 2024”, https://www.unep.org/resources/adaptation-gap-report-2024. 19. World Economic Forum, “Alliance of CEO Climate Leaders”, https://initiatives.weforum.org/alliance-of-ceo-climate-leaders/home. 20. Using AI to run heating, ventilation and AC systems could cut power consumption by a quarter – a solution that pays for itself within a year. Retrofitting buildings and using efficient appliances could cut energy use by another 31%. World Economic Forum, “How Davos 2024 set the agenda for accelerating the energy transition in a fair and cost-effective way”, https://www. weforum.org/stories/2024/02/how-to-accelerate-the-energy-transition-in-a-fair-and-cost-effective-way/#:~:text=cash%2C%20 promotes%20energy%20security%20and,boosts%20the%20industry%E2%80%99s%20competitiveness. 21. First Movers Coalition, “Near-Zero Steel 2030”, https://www.greenhouse.tech/initiatives/sector-based-initiatives. Endnotes