30 UK FTSE100 Companies Commit To Net Zero
As of March 31st, 30 of the UK’s FTSE 100 companies have now signed up to the United Nations’ Race to Zero campaign, the global alliance committed to achieving net zero carbon emissions by 2050, with pledges having doubled in the last five months.
Companies including BT Group, Sainsbury’s, Unilever and AstraZeneca are now taking urgent action on their carbon emissions. Globally, there are now more than 2,000 companies of all sizes that have joined the Race to Zero so far, with approximately one-third of these British businesses from sectors such as finance, technology and transport.
It is essential that businesses do take action on climate if the UK is to reach its goals of tackling climate change by 2050, whether that’s through introducing sustainable business practices or slashing emissions from their supply chains.
Sainsbury’s, for example, has committed £1 billion over the next 20 years to become net zero by 2040. This will see it reduce its water usage, as well as food waste and plastic packaging, while increasing recycling and biodiversity.
And Severn Trent, meanwhile, has pledged to deliver a net zero water supply for customers by 2030, as well as helping to publish the Net Zero 2030 roadmap. It is also ensuring that the 2022 Commonwealth Games – due to be held in Birmingham – will be carbon neutral for the first time ever.
Rolls-Royce has also committed to net zero greenhouse gas emissions across its operations and facilities by 2030, establishing a circular economy approach to manufacturing processes, which has meant that up to 95 per cent of the jet engines can be recycled.
Business and energy secretary Kwasi Kwarteng said: “Businesses wield incredible influence to drive change across society and the economy – we need to harness this power to fight climate change.
“UK businesses are already leading the way in cutting carbon emissions and building back greener – it is fantastic to see so many of our biggest companies already pledging to reach net zero. But more can be done, and so today I am calling on more fantastic British companies to step up, follow suit and pledge to join the fight against climate change.”
The Race to Zero global campaign mobilises a coalition of net zero initiatives, with the objective being to build momentum around a shift to a decarbonised economy before COP26, which is taking place in Glasgow between November 1st and 12th.
COP26 will focus on demonstrating the urgency of and the opportunities associated with a move towards a zero carbon economy and how powerful international cooperation is to address the most serious challenges that the world now faces.
A balanced and negotiated package must be agreed that both delivers the Paris Agreement and drives the UN Climate Change process forward.
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