Putting Their Money Where Their Mouth Is

Abstract

The business community has played an increasingly prominent role in international climate governance since the signing of the Paris Agreement. However, recent corporate scandals, such as those of ExxonMobil and Volkswagen, have cast doubt on the credibility of corporate climate action. This paper thus examines the role of corporate climate governance in the post-Paris climate regime. Primarily, this paper focuses on the We Mean Business coalition, which brings together the leading business groups on climate action. Through exploration of the coalition’s organizational structure, its flagship initiative of RE100, and the mechanisms in which firms internalize climate commitments, the case of We Mean Business demonstrates that there is a credible corporate governance regime which plays a critical role in global efforts to combat climate change.