In recent years, many corporations have made bold commitments to achieve net-zero carbon emissions. These commitments are driven by a growing awareness of the urgent need to address climate change and the role that corporations play in contributing to greenhouse gas emissions. A net-zero commitment means that a corporation aims to balance its carbon emissions with carbon removal, or offsetting, so that it is no longer contributing to the accumulation of greenhouse gases in the atmosphere. Here are some examples of corporate net-zero carbon commitments:
- Apple: In 2020, Apple announced its commitment to become carbon neutral by 2030 across its entire supply chain and product life cycle. This means that Apple will reduce its own carbon emissions and work with its suppliers to reduce their emissions. The company also plans to invest in renewable energy projects and carbon removal initiatives to offset any remaining emissions.
- Microsoft: In January 2020, Microsoft announced its goal to become carbon negative by 2030 and to remove all the carbon it has emitted since its founding in 1975 by 2050. The company has implemented a carbon fee for all of its operations, which charges business units for the carbon emissions they generate. The funds from the carbon fee are then used to invest in renewable energy and carbon removal technologies.
- Amazon: In 2019, Amazon announced its commitment to achieve net-zero carbon emissions by 2040, ten years ahead of the Paris Agreement’s target date. The company has launched a number of initiatives to reduce its carbon emissions, including a commitment to power its operations with 100% renewable energy by 2025 and a $2 billion Climate Pledge Fund to invest in companies working on carbon removal technologies.
- Unilever: In 2020, Unilever announced its commitment to achieve net-zero emissions from all of its products by 2039. The company plans to achieve this by reducing the carbon footprint of its products, investing in renewable energy, and offsetting any remaining emissions through carbon removal projects.
- Walmart: In September 2020, Walmart announced its ambition to become a regenerative company. The company plans to become carbon neutral across its global operations by 2040 and to protect, manage, or restore at least 50 million acres of land and one million square miles of ocean by 2030. Walmart will also work with suppliers to reduce their emissions and adopt regenerative practices.
These are just a few examples of the many corporate net-zero carbon commitments being made. As more companies realize the importance of reducing their carbon footprint, we can expect to see even more ambitious targets set in the years to come. Corporate net-zero commitments can be a powerful tool in the fight against climate change, as they demonstrate that sustainability and profitability can go hand in hand.