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Six in 10 of the UK’s biggest listed companies have said they will eliminate their contribution to carbon emissions by the middle of the century as negotiators meet in Glasgow to find a path to avoid catastrophic climate change.
By Thursday, 60 of the FTSE 100 – with a combined market value of over £1 trillion – had committed to a net zero target as part of the United Nations Race to Zero campaign.
They are part of the 5,200 companies which have joined up to the UN pledge. Nearly half of these companies are British, the Government said.
“Businesses both large and small, across all sectors of the global economy, have a crucial role to play in both reducing their environmental impact and developing the green technologies that will set us on the path to net zero,” said business and industry minister Lee Rowley.
“With over 2,500 UK companies joining the Race to Zero, including the majority of our largest firms, the UK is leading the way in showing how going green doesn’t just make sense for the planet – it makes business sense too.”
UK net zero business champion Andrew Griffith said: “As the world seeks bold solutions to combat climate change, we need businesses of all sizes to put the environment at the heart of their operations, making tangible climate commitments that helps chart our path to net zero emissions by 2050.
“By setting out ambitious climate targets, Britain’s leading businesses are sending a clear signal to world leaders at Cop26 that now is the time to act.
“I hope it encourages other companies across the world to outline their own net-zero ambitions and grasp the economic opportunities of this global green industrial revolution.”