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Business: green recovery

Business: green recovery 20 May 2020

Green recovery: More than 150 multinationals call for Covid–19 aid to be aligned with climate goals (via Business Green)

By Cecilia Keating

Largest UN–backed chief executive–led climate effort brings together companies from 34 sectors with a total market capitalisation of $2.4tn.

Some of the biggest names in the corporate world have come together to urge global leaders to pursue an economic recovery from the coronavirus crisis that advances a net zero economy, adding significant clout to recent calls for green stimulus packages to be fast–tracked.

Over 150 companies, which together operate across 33 countries and claim a collective market capitalisation of $2.4tr, have today signed a statement backed by the UN Secretary–General that asks governments around the world to align their Covid–19 economic aid and recovery efforts with science–based climate goals.

The joint statement, which is signed by Mars,, Nestlé, Vodafone, Coca–Cola European Partners, the Co–op, and H&M among many others, was coordinated by the Science–Based Targets Initiative (SBTi), a group that validates corporate climate targets, and its Business Ambition for 1.5C campaign partners We Mean Business and the UN Global Compact.

The multinationals, all of whom are signatories to SBTi, highlighted their commitment to achieving net zero carbon emissions by 2050 and called on governments to match that ambition by implementing policies that support efforts to hold global temperature rise to within 1.5C above pre–industrial levels and enhance resilience to future shocks.

Read the full story here…