4 retailers launch drive to tackle climate change in 'Race to Zero'

10 Jul '21

2 min read

Pic: Shutterstock

Retailers H&M Group, Ingka Group (IKEA), Kingfisher and Walmart recently launched a climate change initiative in partnership with the COP26 High Level Climate Action Champions and supported by Geneva-based World Business Council for Sustainable Development (WBCSD).

Retailers can join the effort by setting science-based targets, working to halve greenhouse gas emissions by 2030 and committing to achieve net-zero carbon emissions by 2050.

Titled ‘Race to Zero Breakthroughs: Retail Campaign’, the initiative encourages other retailers to set out their plans to achieve 1.5 degree-aligned carbon reduction targets, according to a press release from the initiative founder members.

‘Race to Zero’ is the United Nations-backed global campaign rallying non-state actors – including companies, cities, regions, financial and educational institutions – to take rigorous and immediate action to halve global emissions by 2030 and deliver a healthier, fairer, carbon-neutral world in time.

Despite bold actions from some leading retail brands, a decarbonisation pathway for the sector is notably absent, with only 5 per cent of retail businesses by total global industry revenues having committed to taking action to limit global warming in accordance with the Paris Agreement goals, the press release said.

The campaign helps retailers achieve these goals by providing sector-specific guidance and access to networks and best practices. The campaign will also work with trade association partners to drive awareness about the Race to Zero, share tools, resources and accelerate the adoption of net-zero road maps.

Fibre2Fashion News Desk (DS)

More United Nations News... More Retail News - Switzerland...