Driving business ambition, action and advocacy 

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No nation can solve the climate crisis on our own — all of us have to step up.”

– Joe Biden, President of the United States

 

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Welcome to the April edition of the We Mean Business coalition newsletter. We have much to celebrate in terms of climate ambition, action and advocacy, however our thoughts are with those who are still being affected by the devastating impacts of Covid-19 – a recovery rooted in compassion and paired with climate action is more urgent than ever.

This month, corporate America has helped to achieve a historic victory for climate ambition in the U.S., unlocking the path for accelerated business action on climate.

U.S. President Joe Biden has returned the country to a position of real climate leadership by increasing the country’s 2030 emission reduction target – its Nationally Determined Contribution (NDC) – to 50-52% below 2005 levels.

The NDC update follows an open letter to President Biden organized by the We Mean Business coalition and Ceres and signed by over 400 businesses and investors with a footprint in the United States, to at least halve emissions by 2030. The letter gave the administration the strong backing from the private sector to ensure its climate plans are bold enough to tackle the escalating climate crisis and adds to the growing calls from business for accelerated climate action and a green recovery from Covid-19.

The signatories include some of the largest companies in the U.S. – Apple, Facebook, Amazon, McDonald’s, Google, Nike and Starbucks – and represent over $4 trillion in annual revenue and employ over 7 million U.S. workers across all 50 states.

We had the honor of hosting a handful of these companies at a special event organized by Ceres and the We Mean Business coalition, as part of a series of hundreds of events organized by The Climate Group during US Climate Action Week. These leaders from Apple, IKEA, LafargeHolcim, Ørsted and Siemens took part in a cross-sector panel conversation with U.S. Secretary of Energy Jennifer Granholm.

The U.S. NDC increase adds to the growing momentum with a host of the world’s biggest economies stepping up their climate plans during recent weeks and months. Also this month, the UK built on its net-zero by 2050 commitment and enhanced NDC by committing to cut greenhouse gas emissions 68% by the end of the decade, compared to 1990 levels. The EU has reached a provisional agreement to increase its net GHG emissions target to at least 55% by 2030, setting the bloc on course to be the first climate neutral continent by 2050. Japan committed to reduce emissions by 46% from 2013 levels by 2030. And the Philippines is revising up its target to cut GHG emissions to a 75% reduction by 2030.

Reaching these goals will create millions of good jobs as well as improving the health and well-being of communities and driving competitiveness in the economy when it needs it most – in the wake of the devastating impact of Covid-19.

Meanwhile, the number of companies committed to science-based targets continues to grow, surpassing 1,700 this month. The Business Ambition for 1.5°C campaign has reached the milestone of over 500 companies – these companies are headquartered in 46 countries and span 48 sectors, including some of highest emitters such as air transportation, power, chemicals and mining?. Among these companies committed to the highest level of ambition, new joiners include Twitter, Apple, Walmart, Asahi, Jaguar Land Rover, Eiffage and Volvo Cars.

SMEs keep stepping up in the race to net-zero with around 900 of them now committed through the SME Climate Hub, while more than 100 companies – including new signatories Colgate-Palmolive, PepsiCo and Visa – are now committed to The Climate Pledge. The Climate Group’s RE100 initiative also reached a new milestone last month with over 300 companies committed to buying 100% renewable electricity, with among them Heineken, Novartis, Under Armour and Sodexo.

Next month will see a host of key moments for business advocacy as we enter the six months leading up to COP26. Our coalition will continue to mobilize business voices, backing the policies needed to tackle the climate crisis in this decisive decade.

 

 

 

 

 

María Mendiluce
CEO, the We Mean Business coalition

 

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NEWS & BLOGS

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From the We Mean Business coalition

Corporate climate advocacy in action  Corporate America has helped to achieve a historic victory for climate ambition in the U.S., backing bold climate policies that will help to build the infrastructure and drive the innovation needed for the transition – in a clear signal for all countries to harness this momentum.
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Insights from global NGO leaders on business and government climate collaboration We brought together the seven CEOs of the organisations that together form the We Mean Business coalition for a frank conversation on climate leadership, following the U.S. Leaders Summit on Climate and moderated by Ceres’ Anne Kelly.
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Zero-Carbon Transition – April signals of change Here are just some of the signals of change from the past month across transport, energy, industry, land use and the whole economy, demonstrating the transition to a resilient and inclusive zero-carbon future is accelerating.
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From our partners

RE100 reaches 300-member milestone

The latest cohort of companies committed to buying 100% renewable electricity, as part of the initiative led by the Climate Group in partnership with CDP, highlights the diversity of this business movement to drive emissions down across multiple sectors and regions.

Launching the UK Business Group Alliance for Net Zero

To support UK business action on climate change, some of the country’s leading business groups are working together with the support of the UK government in a new network, the UK Business Group Alliance for Net Zero, led by CLG Europe.

Finance sector’s funded emissions over 700 times greater than its own

The GHG emissions associated with financial institutions’ investing, lending and underwriting activities are on average over 700 times higher than their direct emissions, according to a first-of-its-kind report by CDP.

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What we’re reading

Wind and solar energy are job creators

This new analysis aims to address the false dichotomy of “job vs. the environment” and presents how US states are harnessing or missing out on their wind and solar potential and whether they are translating this potential into jobs in renewable energy.

Japan Cancels Its Last Coal Power Plant Project

Plans for a coal-fired power plant in Japan have been scraped, leaving the country with no new construction on the horizon as companies turn away from coal amid tighter emissions rules and strong growth for renewables, Bloomberg reports.

IKEA Foundation commits €1 billion to reduce GHG

The IKEA Foundation has stepped up its environmental ambition with an additional €1 billion to climate programmes over the next five years and support to renewable energy initiatives which can deliver greenhouse gas reductions fast and efficiently.

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TWEETS

@COP26

NEWS: UK to cut emissions by 78% by 2035 As #COP26 Presidency, the UK has set into law the world’s most ambitious climate change target as we work tirelessly towards a net zero future. #TogetherForOurPlanet | #ClimateAction
https://www.gov.uk/government/news/uk-enshrines-new-target-in-law-to-slash-emissions-by-78-by-2035

@MarkJCarney

I’m thrilled to launch the Glasgow Financial Alliance for Net Zero. This is the breakthrough in mainstreaming climate finance the needs. GFANZ will ensure the financial system works together to broaden, deepen & accelerate the #netzero transition. 1/2 https://t.co/XkaEcyTdmU?amp=1

@CFigueres

We need Japan’s #innovation, which made it an industrial powerhouse in the first place, to direct its #ClimateAction I trust @sugawitter @kantei will commit to cut emissions 50% by 2030 in line with #science & the economic shift already underway https://t.co/0qmNIfQ3tV?amp=1

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EVENTS & WEBINARS

India’s Road to COP26 Summit
5 May 2021

Creating markets for climate neutral materials and the role of EU Industrial policy
11 May 2021

Transport Transition Summit
11-12 May 2021

Industry Transition Summit
18-19 May 2021

 

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We Mean Business coalition

We Mean Business is a global coalition of nonprofit organizations working with thousands of the world’s most influential businesses to accelerate the transition to a zero-carbon economy.

 

 

 

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