More than 20 businesses have commited to limiting global temperature increases to 1.5°C. With a combined total value of over $1.7 trillion, they have made pledges through Science Based Targets initiative (SBTi) in response to a call-to-action ahead of the UN Climate Action Summit later this year.
The companies include Unilever, Vodafone, AstraZeneca, BT and Levi Strauss & Co are working towards reaching net-zero emissions by no later than 2050.
The most recent report by the Intergovernmental Panel on Climate Change (IPCC) warned that if global warming exceeds 1.5°C, there will be disastrous consequences witnessed around the world.
Lise Kingo, CEO and Executive Director of the UN Global Compact, said: “Climate leadership has never been more important than it is right now and it is inspiring to see so many diverse companies and brands boldly raising their ambitions.
“Leading companies are already proving that 1.5°C-compliant climate targets are possible, and I encourage all businesses to seize this opportunity to position themselves at the forefront of this movement and contribute to the achievement of the Sustainable Development Goals.”