A Step Forward? UN Adopts Pact For The Future As Climate Week Begins

UN Secretary-General António Guterres framed this week as a pivotal moment to “reboot” multilateralism with the adoption of the Pact for the Future. Described by the UN as “the culmination of a years-long effort to adapt global cooperation to today’s realities,” the Pact’s real-world impact remains uncertain and open to debate. Yet the real hope may lie beyond the UN’s halls—in the streets of New York, where thousands of nonprofit leaders, advocates, business executives, and artists have gathered for Climate Week NYC.

The Pact’s Significance Amidst Polarization

Ahead of Climate Week, I spoke with three entrepreneurs traveling to New York about the message they’re bringing and why they remain hopeful. But first, a word on this new UN Pact: In today’s polarized world, the fact that any agreement was reached at all is, arguably, remarkable (especially given last-minute threats from Russia to derail it). Still, critics might ask: what’s the real value of this lengthy document, which at times reads like a shopping list with several annexes (ie the Global Digital Compact, the Declaration on Future Generations)?

While some may question its immediate impact, many advocates will likely see the Pact as a crucial milestone for advancing specific causes they’re passionate about. On key issues, it helps secure ground that has been fought for—reinforcing important norms. Take fossil fuels, for example. A major push by civil society, backed by numerous organizations and prominent voices, sought to uphold the commitment to phase out fossil fuels, originally agreed upon at last year’s COP in Dubai. This commitment – reaffirmed in the Pact – is now seen as “the new basic norm for climate action,” even though the Pact itself didn’t necessarily break new ground.

Losing this language would have been a major setback, giving countries and fossil fuel companies more leeway to delay urgent action ahead of the next UN climate talks in Baku. It nearly happened—early drafts completely dropped references to “fossil fuels.” But, as the Fossil Fuel Non-Proliferation Treaty noted, “a group of the most vulnerable nations held the line and overcame last-minute dangerous amendments.”

Climate Week NYC: A Growing Force

With the Pact now adopted, the rest of the UN’s agenda will continue, but much of the energy is shifting to Climate Week NYC. Longtime attendees note that Climate Week has grown so much that it’s starting to overshadow the UN General Assembly itself—boosted by its more consumer-friendly, accessible brand. According to the “Global Climate Diplomacy Briefing” by Ed King, speaker requests and event numbers are up 50% from last year. The We Mean Business Coalition, representing 16,000 companies, sees this surge as businesses seeking clear signals on the future of clean energy.

To get a firsthand view, I spoke with three entrepreneurs attending Climate Week to find out what excites them most about this moment.

1/ Shilpika GautamFounder and CEO of Opna

Shilpika Gautam, a Guinness World Record holder for stand-up paddling the Ganges from source to sea, is now heading to Climate Week on behalf of Opna. She’s hopeful about the potential of technologies like solar energy but concerned that many developing countries can’t afford the upfront costs. “It’s really stupid,” she says. Gautamm sees the voluntary carbon market as a solution, though it has faced challenges due to media scrutiny and price drops over the past two years as companies have become shy about buying carbon credits.

Opna’s focus is on helping companies manage long-term carbon projects. “We help businesses source, evaluate, and manage projects to ensure real impact and credible climate action,” she explains. Her goal is to reduce risks and ensure projects deliver on their promises so companies can count carbon credits toward their sustainability goals knowing that they represent credible action. Her hope is that this will boost confidence in the market, and as a result, financing flows to the countries and communities that need them.

Gautam believes companies must act now. “Just start now,” she urges. “There are smart, impactful ways to engage in carbon markets. Thanks to the challenges of the past 18 months, we’re now seeing better projects and clearer questions being asked. Companies need to step up—if they don’t start now, they’ll face big problems when net-zero commitments come due in a few years. Opna and other experts have the tools to guide them and ensure real, credible climate impact.”

2) Austin Whitman, CEO of The Change Climate Project

Austin Whitman explains the mission behind The Climate Labela certification his nonprofit offers companies: “There are 30,000 companies with climate targets, but no one’s really talking about how much they’re actually investing to meet them.” Whitman and his team created a straightforward solution. They ask companies to invest in solutions proportionate to their emissions and be transparent about their actions rather than focusing solely on emissions reduction or net zero claims.

By earning The Climate Label certification, companies have thus effectively agreed to invest a specific dollar amount for their overall carbon impact, including every ton of emissions – including scopes 1, 2, and the far more difficult 3. Starting next year, the baseline will be $15 per ton of carbon. Companies have a lot of flexibility in investing the funds—either on aggregated carbon contributions for higher-quality projects or solutions like Sustainable Aviation Fuel, for example. Though still new, The Climate Label has received positive feedback from the 20 companies they’ve worked with.

3) Rachel Delacour, CEO and Co-Founder of Sweep

After founding and successfully selling a multi-million dollar company, Delacour had a revelation: climate awareness wasn’t on her radar until her early 40s. “I realized I had been living in a bubble,” she reflects, acknowledging a past of frequent business travel and a significant carbon footprint. This wake-up call spurred her to educate herself about climate change and the urgency of taking action.

Now, Delacour is on a mission to empower companies with the data management tools they need to navigate the sustainability landscape. She believes understanding the data behind portfolios is crucial for companies looking to stay competitive in a rapidly changing market. “Sustainability is no longer just a buzzword; it’s a new competitive advantage,” she asserts. Just as companies had to adapt to digital transformation to survive, they must now embrace sustainability to thrive.

Delacour warns that CEOs who neglect this shift risk losing their relevance. “If you’re not prioritizing sustainability in your mandate, you’re not protecting your company’s future,” she emphasizes. The ROI on sustainable practices is already evident in the success stories of major brands like L’Oréal and Telcos, proving that sustainability isn’t just an ideal—it’s a strategic necessity.

She remains optimistic about the path ahead. When the European Union introduced ESG regulations, many US companies feared the changes. However, Delacour notes that many have since recognized the potential for these regulations to serve as a roadmap for competitive advantage in global markets. “While some were panicking, others saw an opportunity to enhance their sustainability efforts and analytics,” she says.

In Delacour’s view, the future is bright for those willing to connect the dots and take action. It’s not just about meeting regulatory demands; it’s about building a resilient, sustainable business that stands the test of time. As she concludes:

“My main message is one of optimism. As we head to the US for Climate Week, there are uncertainties about whether Trump or Kamala will take the presidency and what that means for sustainability. However, I’m optimistic because large regions and commercial sectors are now demanding that companies, both American and Asian, comply and present clear transition plans. This movement demonstrates that regardless of who is in the White House, sustainability is essential for becoming a lasting, responsible company.”