Zero-Carbon Transition – Latest signals of change (18.09.20)
The We Mean Business coalition
Here are just some of the signals of change from the past week, demonstrating the transition to a resilient and inclusive zero-carbon future remains underway.
Zero-Carbon Economy
More than 150 business leaders and investors, led by CLG Europe, urged EU heads of state to set higher 2030 emissions reduction targets. In response, the President of the European Commission, Ursula von der Leyen, proposed toughening the bloc’s emission reduction targets to at least 55% by 2030, compared to the current target of 40% from 1990 levels. It is technically and economically possible to achieve net-zero GHG emissions by around mid-century, according to the Energy Transitions Commission’s Making Mission Possible report. Facebook has signed the Business Ambition for 1.5°C pledge, committed to be carbon neutral across its entire value chain by 2030 and launched a climate information centre. Google has committed to eliminating its ‘entire carbon legacy’ and to operating on 100% carbon-free energy by 2030. Amazon announced the first recipients of investments from the $2 billion Climate Pledge Fund. Walmart’s approved science-based target is now aligned with the 1.5ºC trajectory. US pharmaceutical company BioGen has launched a $250 million, 20-year initiative to eliminate fossil fuels across its operations, and signed the Business Ambition for 1.5°C commitment. PwC has committed to achieving net-zero emissions by 2030. US states, cities and other local leaders have successfully kept the country on a path of climate progress, despite COVID-19, recessions and President Trump, the new America’s Pledge report finds. China is considering carbon neutrality as part of its long-term climate plan. The New Zealand government plans to make climate risk reporting mandatory for banks, asset managers and insurers and has committed to achieve 100% renewable energy in the country by 2030. Mexico has issued the world’s first sovereign bond linked to the UN sustainable development goals. And Climate Action 100+ has called on 161 companies to cut emissions by 45% by 2030.
Zero-Carbon Transport
Airline alliance oneworld’s 13 member airlines, which include IAG (the parent of member carriers British Airways and Iberia), Japan Airlines and Qantas, have committed to net-zero carbon emissions by 2050. Scania has launched a fully electric truck with 250km range. Ford announced plans to build a $700 million plant at the Rouge complex that would create the first all-electric F-150. The European Commission is expected to propose that the European Union further tighten its limits on auto emissions. BP has joined calls to bring forward the UK’s proposed ban on sales of new petrol and diesel cars to 2035 or sooner. And French public transport company RATP has signed the Business Ambition for 1.5ºC commitment.
Zero-Carbon Energy
Up to 80% of the EU’s total electricity could be fossil fuel-free by 2030, according to industry association Eurelectric. REBA has launched the Supply Chain Partner Engagement Roadmap, in consultation with leading energy buyers to accelerate supply chain climate action.
Zero-Carbon Built Environment & Heavy Industry
Rio Tinto have partnered with Shawinigan Aluminium to develop the first closed-loop recycling centre for scrap aluminium. And BP has brought forward its estimate for peak oil demand to the early 2020s.
Zero-Carbon Land Use and Nature-Based Solutions
More than 1,000 organizations and individuals from across society have called for world leaders to act to halt and reverse nature loss to safeguard humanity. Australasian timber company Timberlink Australia | New Zealand and UK sugar producers Tate & Lyle have had their science-based targets approved. While American good giant General Mills and Chilien timber company Arauco have signed the Business Ambition for 1.5ºC commitment.