Zero-Carbon Transition – Latest signals of change (19.02.21)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 is accelerating.
The US has officially rejoined the Paris Agreement, following President Joe Biden’s executive order on his first day in office – a move welcomed by companies and policy leaders around the world. To mark the occasion, thousands of non-federal climate leaders have launched America is All In, a coalition to drive a society-wide mobilization for bold climate ambition. Amazon and Global Optimism announced that 20 new signatories around the world have joined The Climate Pledge, including Johnson Controls, IBM and Ørsted. BlackRock has published guidance outlining its expectations for how companies should address climate risk. The Sakhalin island region of Russia has committed to be net-zero by 2025. Demand for ESG investing prompted 253 European funds to make their strategy or investment profile more sustainable in 2020. CDP’s latest Global Supply Chain Report shows that an increasing number of buyers are demanding disclosure and more suppliers than ever are responding. Facebook has announced a UK trial to tackle climate misinformation on its social media platform. And a new survey has found Australians are more afraid of climate change than catching Covid-19.
Ford has committed to stop selling cars with any form of combustion engine in the UK and Europe by 2030. Jaguar has committed to becoming an all-electric car producer by 2025 and plans to have ditched the internal combustion engine entirely by 2036. Shipping giant Maersk has announced its first carbon-neutral container vessel will be operational by 2023, seven years earlier than planned.
S&P Global Ratings has downgraded Exxon and Chevron citing the growing pressure to tackle climate change.
Zero-Carbon Built Environment & Heavy Industry
Danish chemicals company Haldor Topsøe has committed to set a science-based target, while Swiss chemicals company Clariant AG has had its target approved. Hong Kong-based construction company New World Development Company Limited has also committed to set a science-based target.
Zero-Carbon Land Use & Nature Based Solutions
Swedish paper company Holmen AB has committed to set a science-based target and Dutch drinks maker Heineken NV has had its target approved.