Taskforce on Net Zero Policy

The Taskforce on Net Zero is a group of leading international agencies that have convened to advance net zero aligned policies by encouraging the sharing of knowledge, practices, and insights among policymakers and regulators.

The Taskforce published its two inaugural reports during COP29 (November 2024), providing insights on the G20 corporate and financial policy reform as it relates to the nine recommendations of the High-Level Expert Group on the Net Zero Emissions Commitments of Non-State Entities (HLEG):

Net Zero Policy Matters: Assessing progress and taking stock of corporate and financial net zero policy reform
Interconnected Justice: Understanding the cross-border implications of climate transition policies

At COP30, the Taskforce is planning to publish a report that provides decision makers with practical insights about how to design policies that will support quick and deep reductions of greenhouse gas emissions from companies and financial institutions, allowing to reach net-zero emissions by 2050. For any questions on this report, or the associated activity taking place around the report launch, please contact [email protected]

The COP29 reports can be downloaded here:

About the Taskforce

Background

The Taskforce on Net Zero Policy was established at COP28 (2023) to further the aims of the High‑Level Expert Group on the Net Zero Emissions Commitments of Non-State Entities (HLEG).

The HLEG was established in 2022 to develop stronger and clearer standards for net zero emissions pledges by non-state entities – including businesses, investors, cities, and regions – and to speed up their implementation. Its landmark 2022 report “Integrity Matters” made a clear recommendation to “accelerate the road to regulation” – in other words, to facilitate the formation of an enabling policy environment which allows non-state actors to facilitate their own shift to a net zero future. It is this specific recommendation which the Taskforce seeks to facilitate.

The strategic priorities and areas of focus for the Taskforce are set by its Board of Trustees, with the PRI providing operational and administrative secretariat support for the body.

The Taskforce was announced by its co-Chair, Helena Vines Fiestas, during the UN Secretary General’s High-level Meeting for Non-State Actors at COP28:

The Taskforce’s current focus is on the production of a landmark report, which will draw on input from the Taskforce’s participants to provide a comprehensive overview of current and emerging policy practice on the issue of net zero and which is due for publication at COP29 in November 2024.

To receive updates from the Taskforce, please express your interest by emailing [email protected]

Objectives and structure

The Taskforce’s core objectives are as follows:

Establish a collaborative space that encourages the sharing of knowledge, practices, and insights among policymakers and regulators.
Provide research and technical support, particularly in policy areas which support the net zero transition in a way that is consistent with the HLEG recommendations and that also works for companies of all sizes and addresses the needs of middle and low income and the most vulnerable countries.
Identify opportunities within regulatory frameworks that support the implementation of the HLEG recommendations.

The Taskforce’s activity will cover a variety of industries relevant to the HLEG recommendations, on non-state actors – including financial institutions, corporates and cities – and the specific policy areas relevant to their activity, including financial policy, corporate regulation and real economy policy.

The strategic priorities for the Taskforce are defined by its Board of Trustees, a group of senior representatives from international thought leaders and standard setters which exist at the confluence between the public and private sectors with a focus on net zero:

Taskforce Board of Trustees (COP29)

Co-chairs:

Andrea Meza Murillo, Deputy Executive Secretary to the United Nations Convention to Combat Desertification (UNCCD)
Helena Vines Fiestas, UN HLEG member, Chair of the EU Platform on Sustainable Finance and Commissioner of the Spanish Financial Markets Authority

Board:

Catherine McKenna, Chair, UN-Secretary General´s High Level Expert Group on Net Zero Pledges of NSAs (UN HLEG)
Eric Usher, Head, United Nations Environment Program – Finance Initiative (UNEP FI)
Klaas Knot, Chair, Financial Stability Board (FSB)
Jingdong Hua, ISSB Vice Chair, International Financial Reporting Standards (IFRS)
Jo Tyndall, Director of Environment, Organisation for Economic Co-operation and Development (OECD)
Mohamed Nasheed, Secretary General, The Vulnerable 20 (V20) Group
Rebeca Grynspan, Secretary-General, United Nations Conference on Trade and Development (UNCTAD)
Sabine Mauderer, Chair, Network for Greening the Financial System (NGFS)

Secretary:

Nathan Fabian, Chief Sustainable Systems Officer, Principles for Responsible Investment (PRI)

Taskforce Expert Group

The Taskforce has also appointed an Expert Group, comprised of leading international voices on the front lines of both net zero and policy issues. This group will share their expertise to directly shape the Taskforce’s outputs and comprises of a diverse range of individual representatives with expertise in working across regulatory environments at different level of economic development, in keeping with the Taskforce’s objectives.

The following members are appointed to the TEG as a formal representative of their organisation/employer: