Britain’s largest businesses are leading the way in the global transition to net zero emissions, with over half of FTSE100 companies now committed to eliminating their contribution to climate change by 2050.
Last week, 60 of the UK’s FTSE 100 companies 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 by independent experts and organisations to ensure everyone in the Race is following through on meeting their targets – signally a strong shift in the UK economy to a greener future.
Accelerating momentum from UK businesses means that pledges have more than quadrupled since November last year, now representing total market capital of over a trillion pounds and combined turnover of £700 billion.
Globally, over 5,200 companies of all sizes have now joined the UN Race to Zero, representing sectors like transport, technology, manufacturing, retail, and finance. Nearly half of these are British businesses, with the UK private sector demonstrating international leadership in global efforts to tackle climate change.
The Race to Zero acts as a kickstart for companies going green, guiding their actions in the transition to net zero and positioning businesses at the forefront of the global race to develop new green technology, kick-start new industries and attract private investment.