Walmart, H&M, IKEA & Kingfisher Launch Climate Initiative for Retail Industry
Leading global retailers H&M Group, IKEA, Kingfisher, and Walmart announced today the launch of Race to Zero Breakthroughs: Retail Campaign, a new initiative aiming to drive climate action in the retail industry, and encourage other retailers to set carbon reduction plans aligned with achieving net-zero and limiting warming to 1.5°C.
Launched in June 2020 under the stewardship of the United Nations Framework Convention on Climate Change (UNFCCC), Race to Zero is a global campaign designed to rally leadership and support from businesses, cities, regions, and investors committed to achieving net-zero carbon emissions by 2050 at the latest, and to build momentum around the shift to a decarbonized economy ahead of the upcoming UN Climate Summit, COP26.
Retailers joining the initiative commit to setting science-based targets, working to cut greenhouse gas emissions in half by 2030, and achieving net-zero carbon emissions by 2050 at the latest.
The new campaign is being launched in collaboration with the COP26 High-Level Climate Action Champion, and supported by the World Business Council for Sustainable development (WBCSD).
Peter Bakker, President and CEO of WBCSD, said:
“This campaign is a call to retailers everywhere to take ambitious climate action as they increasingly recognize the risks posed by climate change across their supply chains and operations. We need more retailers to join the UNFCCC’s Race to Zero and showcase leadership and commitment, like H&M Group, Ingka Group (IKEA), Kingfisher, and Walmart.”
Nigel Topping, UN High Level Climate Champion for COP26, added;
“I encourage the retail industry to join us and take immediate climate action to halve global emissions by 2030. Together, we can win the Race to Zero.”