On May 1, the Balanced Enterprise Research Network (BERN) at the University of Sydney Business School  hosted an event in collaboration with the UN Global Compact, the Carbon Disclosure Project (CDP) and WWF Australia on the Road to Paris and Science Based Targets Initiatives.

This forum launched the initiative ‘Science Based Targets‘ – which aims to encourage businesses to set new, ambitious greenhouse gas emission reduction targets in the run up to the COP21 talks in Paris later this year. Formed as a response to the urgent call by the Intergovernmental Panel on Climate Change (IPCC) to decarbonise the economy, the initiative adopts a scientific approach to climate action in line with the latest IPCC report, and highlights the central role that business must play in responding to the climate threat by reducing GHG emissions in line with the best climate science.

This event featured a range of speakers from industry and non-government organisations, including:

• Martijn Wilder (Baker McKenzie & WWF Board member);
• Amanda McKenzie (CEO, Climate Council);
• James Day (Director, CDP);
• Emma Herd (Executive Director, Emissions and Environment, Westpac);
• Richard Wilson (Sustainability Manager, lkea Australia); and
• Margaret Stuart (Corporate and External Relations Manager, Nestle Oceania).

The morning event featured extensive debate about the changing global political context in the lead up to the Paris talks, particularly the US-China climate agreement, the increasingly marginalised position of Australia as the world shifts towards carbon regulation and renewable energy, and how some companies are adopting a more long-term view of climate change for their operations.