The B TEAM launched a report on progress towards the goal of Net Zero emissions by 2050 on the 31st January 2018. B TEAM companies signed up to the ambitious goal of a just transition to net-zero at the beginning of 2015 in the lead up to the COP21 to demonstrate their ambitious leadership on climate action.
Within the B Team, the Net-Zero 2050 Team is a leadership group of CEOs and their companies, who are working together to accelerate the just transition to net-zero greenhouse gas emissions by 2050. They each committed to phase out all greenhouse gas emissions by January 1, 2050. This is the level of ambition required to achieve the 1.5oC goal set in the Paris Agreement, which is a prerequisite for climate justice. The companies also pledged to use their influence to advocate for policies that support an economy-wide, just transition to net-zero greenhouse gas emissions by 2050.
The progress report shows how the individual B Team companies are making progress towards this goal and how collectively they are assessing their achievements, sharing challenges and lessons learned, and providing examples for other businesses considering the journey to net-zero. The report shows that individual actions by companies on their own operations is not enough. To build a movement for a just transition to net-zero, companies need to commit to working together and learning together through the transition.
The Mary Robinson Foundation – Climate Justice is pleased to see that the B Team companies are making meaningful progress on their journey towards net-zero, demonstrating that all companies, whether they have heavy-emitting operations, complex supply chains or large distribution networks, can make significant emission reductions while adding value to their business. The report also identifies nine common challenges from developing an emissions reduction strategy and adopting energy, to engaging suppliers and making sure that the transition is just and fair to all.
Responding the launch of the report, Mrs Robinson said “I am so pleased to see the progress being made by B TEAM companies in response to the challenge I set them in 2015 to commit to net-zero emissions by 2050. Through the Net Zero working group, David Crane and I have encouraged the companies to be accountable to each other and their peers on the progress they are making towards this goal. This report shows me that they are taking their commitment seriously and that by working together they can help each other to overcome challenges and shape a transition to net-zero which upholds and protects human rights”.
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