More and more companies are already making climate commitments for a carbon neutral economy – BCSDH Climate Talks CEO Roundtable Series

The measures taken so far need to improve to achieve a climate-neutral economy, drastic steps and commitments are needed, which was agreed upon during the BCSDH Climate Talks, a series of three business roundtables where companies presented their existing climate commitments and discussed what steps are needed to accelerate the process.

The contribution of the business sector is essential to tackle climate change. They also have a lion’s share to play in times of the pandemic and in restarting the economy at a more sustainable level. Systemic change is needed in value chains, business models, technological innovation, cross-sectoral collaboration and in shaping mind-sets, “business as usual” is no longer acceptable.

The April and May CEO roundtables, organised by BCSDH with the participation of 42 of top executives, presented the results and findings of the Towards Net Zero survey, conducted for the first time in Hungary, on the carbon neutral activities of the domestic business sector. Participating companies shared their climate change mitigation and adaptation commitments, their outstanding business solutions and discussed which leverage measures can help accelerate progress towards carbon neutrality.

Business leaders agreed that carbon neutrality targets can be achieved through targeted action plans based on sound measurement, sharing of existing business solutions and innovation. Avoiding further emissions, minimising current emissions and offsetting were also mentioned as current directions, but increasing transparency, new financing options and working with regulators were also mentioned as further steps.

“Last year showed us the vulnerability of many systems and how interconnected our world is. How health, the environment and the economy are interconnected. We need a more broad, systematic approach to make our world healthier, more resilient and more sustainable. We are seeing sustainability being embedded in more and more companies’ strategies, but we need to focus on key priorities such as ending the climate crisis, halting further loss of natural diversity and tackling dramatically rising inequalities. We must accept that businesses have a key responsibility to lead and drive change to improve our society. Lead with action and collaboratively, in partnership with academia, policy makers, institutions and NGOs,” said Attila Chikán Jr., President of BCSDH, CEO of Alteo Group.

BCSDH aims to showcase what the business sector can do on climate change and adaptation, how companies can make a real impact, and present exemplary commitments and business solutions that can be easily adapted by other companies at its annual business lunch on 7 October and in a publication to mark the occasion.