AP Moller-Maersk and eight other companies including Microsoft and Starbucks have joined hands to set up a new initiative to accelerate the transition to a net zero emissions global economy.
The cross-sector initiative, named Transform to Net Zero, aims to develop and deliver research, guidance and implementable roadmaps to enable all business to achieve net zero emissions.
The nine founding members include Maersk, Microsoft, Starbucks, Mercedes-Benz, Nike, Unilever, Danone, Natura & Co, and Wipro, as well as Environmental Defense Fund (EDF), with support from BSR serving as the secretariat for the initiative.
Soren Skou, ceo of Maersk, said: “To contribute to the Paris agreement’s goal, we announced our ambition of having net-zero CO2 emissions by 2050 back in 2018. Since then we have taken several concrete actions to decarbonise the industry. The overall target of keeping global warming below 1.5 degrees can only be reached through strong alliances across sectors and businesses.”
Transform to Net Zero will focus on enabling the business transformation needed to achieve net zero emissions no later than 2050, in addition to driving broader change with a focus on policy, innovation, and finance.
The outputs of the initiative will be widely available to all, though additional companies may join. The Initiative intends to complete the outputs of this work by 2025.
The work will be led by some key principles including focused on transformation, best practice data and methods, leveraging of existing efforts, strong governance and oversight, investment in innovation, policy engagement, transparency and accountability, and sustainable transition.