The adoption of the Paris Agreement on 12 December by 195 governments is a major turning point in the global fight against climate change. To date, 190 governments have committed to specific actions to reduce their national greenhouse gas (GHG) emissions, covering over 95% of total global emissions. While these efforts alone will not suffice in keeping the world climate-safe, these bottom-up national pledges will provide a solid foundation from which ambition can be ratcheted up in the coming years. At the same time, the momentum for action is increasing from the business community. This report describes the potential for value chains to act as a lens or anchor, bringing together players outside of typical ecosystems. Businesses successfully engaging in a collaborative process as outlined in this report will not only unlock hidden value in their operations, but also will build real progress, jointly with other key players of their value chain, towards a low-carbon economy.