A collaboration of nine companies has set up a new initiative to help businesses achieve net zero emissions.
The Transform to Net Zero initiative aims to ramp up efforts towards a net zero global economy and implement roadmaps to assist with such a transition.
The heads of Unilever, Starbucks, Microsoft, Danone, Nike, A.P. Moller- Maersk, Mercedes-Benz, Natura & Co and Wipro have all signed up as founding members, as well as the Environmental Defense Fund (EDF).
It is supported by BSR, (Business for Social Responsibility) which is serving as the Secretariat for Transform to Net Zero and the aim is to focus on enabling the business transformation required to achieve net zero emissions no later than 2050.
The outputs of the initiative, which will be completed by 2025, will be widely available and additional companies may join.
The work will be led by several principles which include a focus on transition, strong governance, robust emissions reduction and removal, investment in innovation, transparency, best practice data and a sustainable transition.
Fred Krupp, president of Environmental Defense Fund, said: “The gap between where we are on climate change and where we need to be continues to widen. So does the gap between businesses that just talk about action and those that are actually getting the job done.
“This new initiative holds tremendous potential for closing these gaps. Especially if other businesses follow in the coalition’s footsteps, leading by example and using the most powerful tool that companies have for fighting climate change: their political influence.”
Ola Källenius, chairman of the board of management of Daimler AG and Mercedes-Benz AG, said: “If there is one lesson we can learn from dealing with the COVID-19-pandemic it is how much we can achieve if we act together. This is the only way we can also win the fight against climate change.
“We need to set common goals and implement measures to achieve them. That’s why we are joining ‘Transform to Net Zero.’ Our mission at Mercedes-Benz is CO2-neutral mobility. We are making good progress towards this end and we are determined to follow through.”
Brad Smith, president, Microsoft, said: “No one company can address the climate crisis alone. That’s why leading companies are developing and sharing best practices, research, and learnings to help everyone move forward.
“Whether a company is just getting started or is well on its path, Transform to Net Zero can help us all turn carbon commitments into real progress toward a net zero future.”