The science is clear: Global greenhouse gas emissions must be halved this decade to limit global warming to below 1.5°C.
The world is off track to deliver these emissions reductions, and transformation at scale is needed to keep 1.5°C within reach. Businesses have a key role to play and while much has been done, it is essential that many more companies rapidly accelerate their progress toward net zero emissions. To help reach net zero global emissions no later than 2050, businesses can accelerate actions by:
- Converting commitments into action and transforming business operations, supply chains, and products and services.
- Making net zero implementation possible and viable, becoming a new norm for all companies.
- Creating systems change, working beyond sectorial silos to increase investment in innovation, supportive public policy.
Lead by example and enable all businesses to achieve net zero emissions by:
Enabling business transformations companies are undertaking to achieve net zero emissions by 2050.
Delivering robust emission reductions across the entire business and value chain.
Working with partners across supply chains.
Innovating and investing at scale in products, services, and business models that amplify impact and ensure a just transition for all people and communities.
Engaging with policy makers to support policies that incentivize progress towards net zero.
The work will be led by the following principles:
Focused on Transformation
Delivering on our individual commitments and translating into action, which will include corporate strategy, governance and accountability, finance and operations, risk management, procurement, innovation and R&D, marketing, and public affairs.
Led by Science and Best Practice Data and Methods
Committed to standardized approaches to achieve what the best available science requires for a 1.5°C world; committed to improving the quality and availability of research, data, and tools for all; committed to the highest return for the climate on investment.
Leveraging Existing Efforts
Committed to open collaboration with existing net zero initiatives (sign-on, advocacy, sectorial, methodology efforts) to leverage existing work and advance business transformation to net zero.
Strong Governance and Oversight
At the highest levels of the company, governance and oversight structures will work to achieve net zero, including through developing innovative products, services, and business models.
Robust Reduction and Removal Across the Extended Enterprise
Net zero requires emissions reductions across the entire value chain, including impact of products and services and supply chain. Net zero requires us to achieve greenhouse gas (GHG) emissions reductions aligned with the latest science and increase our capacity for GHG removals in the near term to be the path to get companies—and the world—to net zero no later than 2050 to ensure a stable climate, and will mean a mix of climate-positive actions should be pursued.
Investment in Innovation
Substantial commitment and willingness to invest in and accelerate innovation to achieve net zero transformation, including partnering with others.
Advancing public policy that enables and accelerates progress towards net zero, and engagement with bodies such as trade associations to achieve this objective.
Transparency and Accountability
Public reporting and disclosure on progress towards Net Zero transformation to key stakeholders, including investors, customers, consumers, and where required―regulators; sharing information with all stakeholders on good practice to net zero transformation.
Just and Sustainable Transition
We know that marginalised groups and low-income communities bear the greatest impacts of climate change. Therefore, we will help enable conditions needed to achieve effective, just, and sustainable climate solutions for people of all gender, race, or skills.
Demonstrated Business Transformation
Many more companies are setting and are on their way to achieving net zero across industries by reshaping corporate strategy, governance and accountability, finance and operations, risk management, procurement, innovation and R&D, marketing, and public affairs. The coalition enables peers to quickly follow by developing publicly available research, roadmaps, data, and tools. As a result, companies begin a similar business transformation.
Catalyzed Systems Change
Through collaboration and policy engagement, Transform to Net Zero catalyzes new capital for net zero innovation, jobs, skills, and solutions; and sets new rules of the road to enable achievement of net zero goals.
Scaled Net Zero Action
Companies of all sizes accelerate emissions reductions consistent with net-zero emissions before 2050.