ʼRace to Zeroʼ event promotes CO2-neutral transition

Conferences

The embassies of six countries and the Hungarian Business Council for Sustainable Development (BCSDH) have teamed up with the support of the Ministry of Innovation and Technology (ITM) to help accelerate the transition to a carbon-neutral economy in Hungary by 2050, according to a press release sent to the Budapest Business Journal.

At the online Race to Zero Business Ambitions Forum held on December 3.

The purpose of the event, organized by BCSDH and the British Embassy, in partnership with the Italian Embassy, and in collaboration with the Embassies of France, ​Germany, Canada, and the Kingdom of the Netherlands, ​​was to encourage the domestic business sector to shift to a more sustainable, carbon-neutral economy after the pandemic.

"In 333 days, the United Nations’ 26th Climate Change Conference will open in Glasgow, hosted by the U.K. in partnership with Italy. This remaining year of preparation for COP26 must also take on board the effects of the COVID-19 pandemic. At COP26, we must unite the world on a path to a zero-carbon economy as we build back greener from COVID-19," said British Ambassador to Hungary Paul Fox in his opening remarks. 

In his keynote address, Italian Ambassador to Hungary Massimo Rustico said, "Italy is a front runner in the Race to Zero campaign to completely decarbonize the global production system and foster inclusive and sustainable growth. To reach our goal by 2050, we need to act now!"

Climate protection law to help meeting targets

In her opening remarks, Barbara Botos, Deputy State Secretary for Climate Policy of the Ministry for Innovation and Technology, spoke about the climate protection law recently passed by parliament, according to which Hungary has committed to achieving climate neutrality by 2050, thus balancing the emissions and sinks of greenhouse gases.

To meet the 2030 targets also defined by the law the government will introduce measures including support for the energy-related development of domestic companies and the issuance of Green Bonds.

Some 1,128 businesses including the likes of Facebook, Tesco, LafargeHolcim, and Magyar Telekom, and 45 of the biggest investors have joined the global Race to Zero campaign, along with over 450 cities and 550 universities.

Jen Austin, director of policy and strategy, COP26 High Level Climate Champions team, gave an insight into the goals of the Race to Zero initiative, and a global overview in the run-up to COP26.

Kaya Axelsson, net zero policy engagement fellow, Oxford University Smith School of Enterprise and the Environment and the Environmental Change Institute, presented the practical steps for companies to set and achieve net-zero targets.

The responsibility of businesses and governments

At the event, Attila Chikán Jr., president of BCSDH said that "All companies are affected by climate change and all companies have the opportunity to influence it positively. Stabilizing global warming under 2, but preferably 1.5 degrees Celsius requires the radical reduction of greenhouse gas emissions as soon as possible. Transitioning our economy first to low-carbon, then carbon-neutral by 2050 is the way to achieve this objective. Businesses will play a key role in this process. Is there a better time to start it than now?"

In her closing remarks, French Ambassador Pascale Andréani said, "Five years ago, by adopting the Paris Agreement, our countries committed to decreasing their greenhouse gas emissions but it was only the beginning. The urgency remains and it’s up to us, governments, private companies, and citizens to turn these commitments into reality. This is our shared responsibility!"

"Fighting climate change, climate protection is teamwork. Our common goal is to achieve climate neutrality by 2050, where all contributions count. Renewables are taking over in the power sector in Europe. Next steps in energy transition: replace fossil fuels in transport, industry, and heating. Hydrogen will play a crucial role," German Ambassador Johannes Haindl said. 

"We are proud to be collaborating with the British Embassy and our other partners on the Race to Zero Business Ambitions Forum and working for a carbon neutral world by 2050. Climate change is a global problem and it will take a coordinated response to find global solutions. Canada continues its work to reduce emissions and build resilient communities and a low carbon economy, knowing the strong connection such efforts have with long-term health and financial well-being," Canadian Ambassador Caroline Charette said.

Dutch Ambassador René van Hell said, "The Netherlands deems climate actions very timely and important that is why it will host the Climate Adaptation Summit on 25 January 2021, focusing on how we can adapt globally to the changing climate and what solutions need to be scaled up further. Please, join this on-line event which will mobilize governments, companies, organizations and citizens worldwide in order to set out a roadmap towards a climate-resilient future by 2030!"

Irén Márta, managing director of BCSDH said in her closing speech, "Half of our member companies already have strategic climate protection goals, commitments and programs. But it is important that as many players in the business sector as possible set ambitious carbon reduction targets, draw up an action plan for this and regularly analyse the results and measure their carbon footprint. This is included in the climate recommendations of the BCSDH Action2020 Hungary program. The purpose of today’s Race to Zero Business Ambitions Forum is that leading domestic companies from several industries demonstrate their best practices and commitments, thereby encouraging domestic companies to make similar ambitious commitments towards a carbon-neutral economy."

Speakers of the "Race to Zero Business Ambitions Forum" event included Péter Éliás, head of environmental management of Audi Hungaria; Rolf Schnitzler, CEO of Budapest Airport; Zsuzsanna Friedl, chief people officer of Magyar Telekom; Alastair Teare, risk advisory business leader of Deloitte Hungary; Andrew Higgins, regional managing director CEE of FCA Fiat Chrysler Automobiles; Tibor Bodor, CEO of ING Wholesale Banking Hungary; László Károlyi, CEO of Legrand Hungary; and Zsolt Pártos, managing director of TESCO Hungary, who all shared their experiences about the specific climate-protection commitments and steps taken by their companies to foster carbon-neutral operations.

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