30 of the UK’s FTSE 100 companies have signed up to the United Nation’s Race to Zero campaign – the largest ever global alliance committed to achieving net zero carbon emissions by 2050 at the latest, backed with science-based targets, with many opting to go even faster.
This means that pledges have doubled in the past 5 months, with companies including AstraZeneca, BT Group, Sainsbury’s and Unilever – in total representing a total market capital of £650 billion.
Business and Energy Secretary Kwasi Kwarteng said: “Businesses wield incredible influence to drive change across society and the economy – we need to harness this power to fight climate change.
“UK businesses are already leading the way in cutting carbon emissions and building back greener – it is fantastic to see so many of our biggest companies already pledging to reach net zero.
“But more can be done, and so today I am calling on more fantastic British companies to step up, follow suit and pledge to join the fight against climate change.”
UK FTSE100 companies who have signed up to Race to Zero include:
- Vodafone, which has pledged to halve its carbon emissions by 2030, including the emissions emitted via the company’s joint ventures, all supply chain purchases and business travel, and eliminate its contribution to emissions by 2040
- Sainsbury’s, which has committed £1 billion over the next 20 years to become net zero by 2040. As part of this pledge, the company has also committed to reduce food waste, plastic packaging and water usage as well as increase recycling, biodiversity and healthy and sustainable eating
- AstraZeneca, which has committed to achieving zero carbon emissions from its global operations by 2025 and becoming carbon negative across its entire value chain by 2030. This involves doubling its energy productivity; using 100% renewable energy for power and heat and sustainable product design such as the launch of next-generation respiratory inhalers
- Rolls-Royce, which has committed to net zero greenhouse gas emissions associated with its operations and facilities by 2030. This involved establishing a circular economy approach to their manufacturing process meaning up to 95% of their jet engines can now be recycled
- Barratts, which has committed to achieving net zero by 2040 – the first major housebuilder to do so. The leading housing company has already reduced its carbon emissions by 21% and is in the process of constructing a hydroelectric turbine that will feed enough renewable energy into the national grid to supply over 250 homes annually with their energy needs
- Legal and General, UK financial services provider, which has committed to become net zero across their entire operational footprint from 2030. On top of this, they have announced they will open the UK’s first net-zero carbon retirement community by 2030, located in central Bedfordshire and have pledged that all homes built by their housing services will be capable of operating at net zero carbon emissions from 2030
- Aviva, which became the first major insurer worldwide to target Net Zero carbon by 2040. Their pledge includes the commitment to invest £2.5 billion in low carbon and renewable energy infrastructure and power all their offices with 100% renewable electricity
- Severn Trent, which has committed to delivering a net zero water supply for customers by 2030, and helped publish the Net Zero 2030 roadmap, a major step for the sector. Severn Trent is also ensuring the 2022 Games in Birmingham will the first ever carbon neutral Commonwealth Games
