BUSINESSES FOR A FOSSIL FUEL TREATY

Business must play a bigger role in leading climate action.

Businesses have a critical role to play in limiting global temperature rise to 1.5ºC, and in supporting the ambitious policies that will be necessary to get us there. 

While climate targets and strategies continue to be set, progress is not being made fast enough. The Paris Agreement does not mention fossil fuels, the primary cause of climate change. If planned fossil fuel production is realised, it will result in more than double the emissions by 2030 than is consistent with limiting warming to 1.5°C and risks undoing progress made to date. 

We now need international cooperation – governments, businesses, and civil society – to come together to explicitly stop the expansion of fossil fuels and manage a global just transition away from coal, oil and gas in a manner that is both fast and fair, so that no worker, community or country is left behind.

A critical way businesses can play an active role in securing a climate just future is by supporting the Fossil Fuel Non-Proliferation Treaty.

Every industry, every organisation and every job depends on our climate remaining stable.

The world now strives for healthy, regenerative economies that run on resilient infrastructure and that provide good education, safe homes and better jobs. We need to implement innovative government policies for a managed climate transition, to challenge the climate laggards, and to deliver finance and business transformation that decarbonises the world once and for all.

By transforming industries from extractive climate models to crucial change agents, businesses can play a leading role in building a new, just and sustainable future.

Find out more about how businesses can support the Treaty and explore our resources and tools below.

Why support the Fossil Fuel Treaty as a business?

As the climate crisis intensifies, businesses are coming under increasing scrutiny to demonstrate how they are preparing adequately for the inevitable climate transition. There is now growing pressure for businesses to illustrate climate leadership from diverse sources including:

  • Growth in mandatory and investor-led climate disclosure regimes

  • Increased scrutiny of net zero pledges

  • Increased business climate litigation cases

  • Growing citizens and worker movements

  • Ability to attract and retain employees

  • Mainstreaming of climate criteria for accessing finance

  • Increased civil action

  • Growing ambition in international and national climate plans

Through supporting the Treaty, businesses can demonstrate climate leadership, play a key role in securing a liveable future, and deliver a range of positive outcomes including:

REDUCING RISK: On our current trajectory, global heating will reach well above 1.5ºC, creating risks for all businesses and industries, their employees and wider stakeholders. The Fossil Fuel Non-Proliferation Treaty will help ensure a safer climate transition that is delivered by design, not disaster, therefore reducing the risks of physical impacts such as extreme weather events, and transitional risks such as the creation of stranded assets or damaging political lock-in.

NET ZERO CLARITY: While net zero commitments are growing in number, their integrity is increasingly being challenged due to the limited impact in reducing absolute emissions to date and an over dependency on technologies that are not proven at scale and that don’t address the root cause of emissions - like carbon capture and storage (CCS), carbon dioxide removals (CDR), and other geoengineering approaches that serve to delay or distract from real climate action. A Fossil Fuel Non-Proliferation Treaty is needed to provide clarity that ensures net zero commitments are underpinned by a global mechanism to permanently move away from fossil fuels and business as usual.

FOSTERING INVESTMENT AND ECONOMIC DIVERSIFICATION: The lack of clarity regarding fossil fuel phase out is limiting and delaying investment in renewable energy and wider economic diversification. A Fossil Fuel Non-Proliferation Treaty will unlock new opportunities, helping to create a policy landscape that fosters new business and finance models that will support the transformation of industries in line with achieving a safe and equitable world.

REPUTATION: Employees and wider stakeholders are increasingly concerned about the climate crisis, and eager to work in businesses that align with their values and that show leadership through tangible and authentic climate action. By supporting the Fossil Fuel Non-Proliferation Treaty, businesses are sending a clear signal to their stakeholders that they are committed to moving away from fossil fuels, willing to advocate for ambitious climate action, and are playing an active role in preparing adequately for the transition ahead.

A Fossil Fuel Non-Proliferation Treaty will play an important role in solidifying the direction of travel for businesses, removing the barriers to business model transformation, creating a more level playing field, and helping to secure a stable operating environment.  

Business support for a Fossil Fuel Non-Proliferation Treaty is vital to ensuring a fast and fair transition.

Actions for Business

By supporting the Fossil Fuel Treaty, businesses commit to taking the following actions:

PUBLIC EXPRESSION OF SUPPORT   

Join governments, parliamentarians, academics, scientists, civil society organizations and wider groups in publicly calling for the development of a Fossil Fuel Non-Proliferation Treaty:

  • Make a public statement in support of the Treaty within 6 months

  • Participate in coordinated advocacy for the Treaty e.g. events, open letters 

  • Support calls for regional and national governments to endorse the Treaty

  • Channel political influence and public profile in support of the Treaty

  • Utilize available Treaty resources

ENGAGE IN CONVENINGS 

  • Participate in convenings with other businesses and wider stakeholders to establish a common understanding of the global coordination challenge around fossil fuel supply, and to build wider support for a Treaty

  • Attend Treaty briefing events and provide Treaty briefings for company leadership, board, employees and wider stakeholders

DEMONSTRATE  BEST PRACTICE 

In addition to engaging in advocacy and convenings for the Fossil Fuel Non-Proliferation Treaty, businesses can demonstrate their leadership and support for the Treaty through:

  • Showcasing best practice efforts to limit the production of fossil fuels, and the dependence of their operations and workforce on fossil fuel production

  • Encouraging industry trade bodies to support the Treaty

  • Encouraging and supporting businesses within their supply chains to reduce their dependence on fossil fuels and to support the Treaty

Support the Treaty as a Business

If you have any questions about supporting the Treaty as a business, please contact: business-engagement@fossilfueltreaty.org

  • This briefing document provides a detailed overview of the need for a Fossil Fuel Non-Proliferation Treaty and sets out the strong case for why businesses should support the Treaty. The document also provides a useful overview of how businesses can support the Treaty. You can connect with our Business Team at business-engagement@fossilfueltreaty.org if you need further information or support with engagement.

  • This document provides an overview of why businesses should support the Treaty, and the benefits of doing so.

  • Do you or your colleagues want to approach your CEO or Board to encourage them to endorse the Fossil Fuel Non-Proliferation Treaty? This helpful template letter can be adapted for your own business context and can be used to reach out to your own CEO or Board. 

Business FAQs

  • Through our business engagement, the Fossil Fuel Non-Proliferation Treaty seeks to prioritise ambitious climate action and progressive business models that are focused on immediate emission reductions in the short-term and that align with our three pillars and the values of our wider network. Our criteria has been established to reflect this approach.

  • Business support will be used to help raise awareness for the Fossil Fuel Non-Proliferation Treaty at key moments and coordinated events and communications. We will keep all supporters updated of these activities.

  • There are currently a wide range, and growing number, of networks and initiatives focused on mobilizing business to advocate for, and act on, climate action. Support of the Fossil Fuel Non-Proliferation Treaty by business networks and initiatives may be a powerful tool to demonstrate support for fast and fair climate action.

    We welcome opportunities to explore engagement with business networks and initiatives, and will consider each on a one-by-one basis.

    Please get in touch at business-engagement@fossilfueltreaty.org if you are a business network or initiative and would like to work with the Fossil Fuel Non-Proliferation Treaty. 

Business and Professionals Supporters

10 Billion Solutions

A.BCH

Brighton Honey

BusinessDeclares

Calmura Natural Walls

Carbon Collective

ClimateVoice

Comms Declare

Creatives for Climate

Cruelty Free Super

Cyklone Tidal Energy

Ecofair

Ecotricity New Zealand

Education for Sustainability

Exige International

Fair Trade Power

Fashion Revolution

Futerra

Future Super

Gnar Sustainable Home Design

Greener Jobs Alliance

Greenhouse Agency

Green Retirement

Groen Pensioen

Handelsbanken

Husstainability

LAROS Group

Leaders for Climate Action

Legnar Design

London Bicycle Café

Make It Good

Organic Tools

Pivotal Consulting

Product for Net Zero

Purpose Amplified

Renewal Funds

Safe Landing

Solar Sisters

Sound Generation Events

Statlu

The Brave Lab

The Planetary Press

Triodos

Verve Super

Volans