Objectives and recommendations followed by actions – TIME TO TRANSFORM 2030, FOLLOWING ACTION 2020

Achieving the 2050 vision will require the business community, governments, and civil society to join forces and change the systems that are creating the challenges we are currently facing, and do so in a fundamental enough way to be rightly called a real transformation. It is no longer enough simply to put filters on chimneys. We need to change what happens in factories, but this is affected by everything going on outside them – from consumer demand through investment allocation and government regulations to market competition. The World Council has identified nine potential transformation pathways, with a particular focus on areas where business is uniquely placed to make a real contribution to the common goal.
WBCSD recognises that the nine pathways are closely interlinked and none of them can be isolated from the others; they are in constant interaction with one another. Certain transformation pathways may be relevant to different degrees in individual sectors; it is crucial that companies look at them holistically.
In Hungary in 2022 we identified three major priority areas with our experts that cover multiple pathways and are currently in a critical situation. In these areas we can help achieve real transformation by engaging our member companies – indeed, work has
already started in these areas through the Action 2020 program.

Our current decade is defined by Time to Transform 2030, built on the achievements of Action 2020. The four key elements of the framework are the nine pathways and action plans to 2050, a high level of member company commitment, maximum transparency, and a systemic change of mindset – all essential factors for accomplishing the above.
Only through these achievements will it be possible to achieve the UN Sustainable Development Goals and targets of Europe’s.

Fit for 55 package by 2030, and to have at least a chance of meeting the 1.5°C climate target.