By making this commitment companies will be agreeing to make the transition to a thriving and fair net-zero greenhouse-gas emission economy by 2050.
Ideas for action
- Reduce carbon emissions by making direct operations more energy and fuel efficient – e.g. offices, factories, transportation fleets.
- Reduce carbon emissions from your energy supply by moving towards 100% renewable energy by 2050.
- Reduce carbon emissions through indirect supply chain emissions by choosing business partners based on their sustainability records, for example, using companies that are promoting green freight or are actively taking steps to ensure greener operations, as well as encouraging others to take action.
- Support the profitable decarbonization of the maritime shipping sector by encouraging those throughout the supply chain to increase the freight efficiency of shipping, encouraging the deployment of efficiency technologies such as flettner rotors, and accelerate the replacement of heavy fuel oil (HFO) with low-carbon alternatives such as sustainable biofuels, ammonia, or hydrogen.
Why? Climate change is having the single most far-reaching and profound impact on the Ocean. The Ocean generates half of the Earth’s oxygen and is the largest carbon sink on the planet – absorbing a quarter of all CO2 emissions and more than 90% of the additional heat from those emissions. Acidification, deoxygenation and warming seas are killing coral reefs and impacting species at a rate too fast for them to adapt. It is estimated that even if we achieve the Paris Agreement target, we will still see a die-off of some 90% of the world’s coral reefs by 2050. That is the best-case scenario. To reduce and avoid further damage to our planet and the Ocean, businesses need to take urgent action to reduce carbon emissions to limit warming to a maximum of 1.5o C.
The maritime shipping industry emits more CO2 than Germany and is the sixth largest producer of greenhouse gas emissions globally. Despite being the most efficient method of cargo transport, as more than 90% of the world’s goods are transported by sea, the industry emits more than 1 billion tonnes of CO2e per year. Maintaining a business-as-usual approach will result in an estimated 250% growth in emissions by 2050, leaving the industry responsible for 18% of global emissions.
- The B Team: bteam.org/planb/#restore-nature
- The Carbon War Room: carbonwarroom.com
- Greenpeace – The Energy [R]evolution Scenario: greenpeace.org/international/en/campaigns/climate-change/energyrevolution
- We Mean Business Coalition: https://www.wemeanbusinesscoalition.org