An open letter to world leaders for COP31

The global transition to clean energy is now irreversible, mostly because renewables are now cheaper, faster-to-market, and the best path to secure and affordable energy.  By contrast, the ongoing fossil fuel cost crisis is ratcheting up costs for governments, businesses and households, while the pollution from coal, oil and gas continues heating our planet, hammering every economy and population.

So it’s increasingly obvious that climate action makes clear economic and commercial sense, which is why it’s now central to the growth and security plans of almost every major economy.   But the vast benefits of clean energy and climate resilience are still not being shared equitably in all regions, and many vulnerable nations need support to get more fully on board.

At COP31 and beyond, we must drive the promise of the Paris Agreement further and faster, with a strong focus on  implementation, to convert more pledges and targets into real-world results. We must put people and communities at the centre of these huge transitions, connecting governments with businesses, investors, cities, regions and civil society to turn plans into projects which benefit more people in all parts of the world.

Today, decarbonisation has become a core part of how companies build competitiveness and resilience. It is also a growth opportunity: green markets passed $5 trillion in 2024, with revenues growing at twice the rate of conventional business. Yet many solutions are not scaling at the pace required, held back by systemic barriers that companies cannot overcome alone.

Progress depends on the public sector creating stable conditions and helping de-risk investment, so that private capital can flow and new technologies can reach the market. COP31 is the moment to put that partnership to work, and to move from commitment to implementation.