Industry titans Microsoft Corp, Nike Inc, Starbucks Corp, Unilever NV and five others from various sectors are coming together to support businesses globally achieve zero carbon emissions.
With “Transform to Net Zero”, the group plans to achieve zero carbon emissions no later than 2050 and to do so, recruit other members and work with the Environmental Defence Fund to focus on delivering guidance, research and blueprints for businesses.
The announcement only outlined the initial research and other work to be completed over the next five years, but gave no details of any investment the companies would make,
Some aims for net zero carbon emissions include reductions across the entire value chain, including impact of products and services, and the substantial commitment and willingness to invest in and speed innovation.
The current alliance also includes French food group Danone SA, German automaker Mercedes-Benz AG, top shipping container firm A.P. Moller – Maersk A/S, Indian tech firm Wipro Ltd, and Brazilian cosmetics maker Natura & Co.
While numerous companies have made commitments to improve, critics say action by the corporate world still falls far short of the sort of far-reaching change needed to meet UN targets on emissions and capping the global rise at 1.5 degrees Celsius.
At the beginning of the year, Microsoft had announced plans to be carbon negative, pledging to remove as much carbon as it has emitted in its 45-year history and allocated $1 billion to create a “Climate Innovation Fund” to invest in developing carbon removal technology.
Reported by Rebekah Mathew
Sourced Reuters
For more Business news follow i-invest Online.