Business alliances play a crucial role in addressing the climate crisis — and through greater disclosure, they might be able to gain greater legitimacy.
November 29, 2023
Yaroslav Danylchenko/Stocksy
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Businesses are increasingly joining together as part of climate alliances to accelerate the transition away from fossil fuels. But these alliances raise antitrust issues: When competitors collaborate, it can come at the expense of customers or workers. To mitigate these concerns, climate alliances need to invest in voluntary disclosure to build trust among policymakers and the public.
Countries, companies, and individuals are increasingly acting to accelerate the climate transition — and they’re increasingly doing it together, as part of climate alliances like the First Movers Coalition. These business alliances are important system-level actors in addressing climate change. At the UN’s 2023 COP28 conference, groups like this will meet to set standards, signal aggregate demand for new products, provide “one voice” on behalf of industry, and raise ambitions.
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Chris Thomas is an associate in Weil’s Antitrust/Competition practice.
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Knut Haanaes is a former senior partner at the Boston Consulting Group and the global leader of BCG’s Strategy practice area. He is a professor of strategy and holds the Lundin Sustainability Chair at the International Institute for Management Development (IMD) in Switzerland.
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Robert Eyres is an associate in Weil’s antitrust/competition.
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Chris Chapman is Counsel in Weil’s Antitrust/Competition practice.
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Copyright for syndicated content belongs to the linked Source : Harvard Business – https://hbr.org/2023/11/to-earn-trust-climate-alliances-need-to-improve-transparency