OECD COP28 Virtual Pavilion

Reaching climate neutrality for the Hamburg economy by 2040

Dec 12, 2023 | 9:30 AM - 11:00 AM

Finance & econ instrumentsReaching net zero

Description

The Hamburg Chamber of Commerce (HCC) has set the target to reach climate neutrality by 2040 for its member businesses. A forthcoming report, to be released on 26 January 2024, prepared by the OECD’s Centre for Entrepreneurship, SMEs and Cities, with HCC support, aims to identify key actions businesses in Hamburg as well as key challenges and opportunities they face to develop climate-neutral business models. As the report will highlight, building the transformations on the specific regional economic context is key to advancing climate action in a flourishing economy. It requires businesses to work together. The OECD and HCC will provide insights into the work of the study and how it may serve to advance the way to climate neutrality. This includes how to make climate neutrality operational for businesses and identify cross-sectoral challenges, such as making the most of low-cost solar and wind energy, decarbonising buildings or the circular economy. It will also point to sector-specific transformations in activities, notably around the port, including Hamburg’s potential role as a hydrogen hub. This session will include a panel discussion and Q&A session with experts from the research community, the HCC and the Hamburg business community. It aims to provide insights into the next steps to integrate the climate considerations into business practices to achieve climate neutrality by 2040 in the Hamburg economy. Participants will have an opportunity to ask questions and comment during the discussions.

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