The project is in partnership with the UN’s COP26 high level climate action champions, and is also supported by the World Business Council for Sustainable Development (WBCSD).
The global retailers have pledged their combined support in order to encourage other retailers to lay out plans to achieve 1.5 degree aligned carbon reduction targets.
However, only 5% of retail businesses in relation to total global industry revenues have thus far committed to taking action in accordance with the Paris Agreement goals.
Nigel Topping, UN high level climate champion for COP26, said that together by taking “immediate climate action to halve global emissions by 2030” it will be possible to “win the race to zero”.
Peter Bakker, president and CEO at the WBCSD, added: “This campaign is a call to retailers everywhere to take ambitious climate action as they increasingly recognise 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.”
To join the race to zero campaign, retailers must set science-based targets, work to halve greenhouse gas emissions by 2030, and commit to net-zero carbon emissions by 2050 at the latest.