The world is at a critical juncture-decisions and actions taken now can either put us on track to limit climate change and meet the goals of the Paris Agreement, or, we can continue on the path of business as usual, with rising emissions and accelerating climate impacts.
The good news is that we have the science, innovation, tools and expertise to take climate action, but all actors need to significantly raise their ambition and action.
In order to tackle the climate emergency, our ambition and actions need to be bolder. That is why a global coalition of UN agencies, businesses, and industry leaders is calling on businesses to commit to set science-based targets aligned with limiting global temperature rise to 1.5°C.
By setting a science-based target, businesses can make their critical and necessary contribution to limiting the worst impacts of climate change. To date, 270 companies, representing over US$3.6 trillion in market cap, have responded to the open letter and signed the Business Ambition for 1.5°C commitment.
Net-Zero Recovery from COVID-19
In May 2020, more than 150 companies — with a combined market capitalization of over US$ 2.4 trillion and representing over 5 million employees — signed a statement urging Governments around the world to align their COVID-19 economic aid and recovery efforts with the latest climate science.
These companies, as part of the Science Based Targets initiative, are calling for policies that will build resilience against future shocks by supporting efforts to hold global temperature rise to within 1.5°C above pre-industrial levels, in line with reaching net-zero emissions well before 2050. Learn more here.
The global Science Based Targets initiative has launched a new strategy to increase ambition in targets that corporations set to combat climate change. Science-based target setting now covers 20 per cent of the global economy, driving corporate decarbonization.