Big companies team up to promote the transition to Net Zero
Under the influence of COVID-19 economic activity stagnated on the world scale, the emissions of the greenhouse gases have reduced, air became clearer, mountains became more visible and the water in the rivers became much cleaner than before. This proves that the environment has a strong connection with economic activity. That means that so far the economic activity was not done in the sustainable way.
9 world-wide-known companies with great influence on the economy on 7th of May have announced that they have established a new initiative to promote the transition of greenhouse gas emissions to zero. The initiative as such was named ‘‘Transform to Net-Zero’’. In order to achieve Net-Zero goals by 2050, each company will implement its current environmental measures and others as such to transform their businesses.
Participating 9 companies include Microsoft, Starbucks, Nike, AP Moller-Maersk, Mercedes-Benz, Danone, Unilever, Natura and Co., and Wipro. Later in the future other companies will be expected to participate in Transform to Net-Zero.
Participating companies pledge to reduce greenhouse gases not only themselves, but also in collaboration with raw material suppliers and consumers through the value chain. In addition, companies will continue to improve not only their usual business operations, but also will need to provide an accurate data of greenhouse gases. Methods such as data analysis developed by each company are thought to be useful for improving the environment of other companies. The current initiative is not about a single company achieving their goals, but a whole-scale transformation of all companies.
Each company will also be actively involved in the activities of government authorities and industry groups, and will also carry out lobbying activities to improve the law to achieve Net-Zero. Ultimately, the aim is to create new business model that is consistent with the ‘‘1.5°C’’ goal set by the Paris Agreement. One of the principles of the conduct is to be fair to be fair for people of all genders, races and employments so that low-income groups, who are most likely affected by climate change cannot be discriminated.
‘‘The initiative is a practical roadmap for companies to grow their businesses and create Net-Zero economy’’ said Aaron Kramer, the CEO of Business for Social Responsibility, which is the secretariat of the initiative. Even if the company succeeds alone, its’ impact on the environment is insignificant. Net-Zero is a grand challenge that will only come into effect when it is achieved on a national and global scale by multiple companies. Following these nine companies, companies all over the world will achieve net zero. When that time comes, this initiative will succeed.
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