Carbon Elimination

Signatories will implement decarbonization strategies in line with the Paris Agreement through real business change and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies.

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The time to act is now

According to NOAA, the amount of CO2 in the earth’s atmosphere is at its highest level in 3 million years, mainly as a consequence of burning fossil fuels. According to the IPCC, which sets out the scientific consensus on climate change, CO2 emissions must be halved between now and 2030 to have a strong chance of keeping global temperature rise below 1.5ºC, eventually reaching net zero carbon by mid-century or earlier. Every year of delay reduces the likelihood we can stave off the worst effects of climate change on humankind and our planet. The Climate Pledge is tackling this challenge head-on. By uniting on a journey to transform the operations of companies, signatories to The Climate Pledge can have a cumulatively outsized impact.

“It’s an all-hands-on-deck problem. Everyone needs to do it together, otherwise we’re not going to make a dent globally.”

Amy Ridener Director Global Sustainability, Verizon.
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The Climate Pledge asks signatories consider their emissions in a different way: To see them as an opportunity to reach net zero carbon with era-defining modernization, innovation, and investment in cross-sector change. The ‘great reset’ of a decarbonization pathway can shape a completely new way of thinking in all companies and societies.

Companies are catalysts of change

The Climate Pledge signatories aim to work together to build new marketplaces for greener, lower emissions products and services, attract and scale the innovations that can cut operational emissions through energy use, transportation, packaging, and all aspects of operations, including the use of our products and services.

We see our role as changing our own businesses and in the process, catalysing economy-wide solutions that can impact many other business sectors. And beyond that, the knock-on economic signals embolden policymakers and governments to double down on their climate change strategies and implement more ambitious policies.

The road to 2040

“The truth is, with a complex and global business like Amazon, We don’t know all of the ways that we will get there by 2040. We’re leading with science and will rely on technologies that we are only beginning to invent and invest in—and some of which don’t yet exist—to drive many of our business changes to decarbonize. But one thing is for certain: we will get there and we’ll do this through great partnerships like the community we’re building with the Pledge.”

Kara Hurst Head of Sustainability, Amazon.

To hit the challenges associated with a goal as ambitious as net zero by 2040 head-on, and open a world of opportunity, The Climate Pledge Fund is a $2 billion commitment to accelerate the development of the technologies and solutions that will enable decarbonisation. The focus is on unprecedented innovation across transportation and logistics, buildings and construction, materials and manufacturing, energy generation, storage, and utilization, right through to food and agriculture. All helping our signatories’ businesses and global society reach net zero.

The Fund welcomes signatories to The Climate Pledge as co-investors to help scale solutions for operational emissions reductions that also have a greater impact across the wider business community. Looking at the advancements of the last 20 years, many seemed daunting at first. Solar panels were prohibitively expensive two decades ago and are now very cost effective. Similarly, cloud computing seemed a difficult business case to justify and is now widely available and very cost efficient. What can the next 20 years look like? Let’s find out by investing in great ideas linked to decarbonisation and help them flourish.

Coming together

Signatories to The Climate Pledge benefit from sharing access to best practices, innovations in supply chain enhancements, co-investing in new technologies, and scaling up emerging solutions to tackle carbon reductions as quickly as possible.

One example of signatories collaborating on the race to reduce transport emissions is a recent Mercedes-Benz and Amazon initiative. Amazon has a target of CO2-neutral mobility within its roadmap meetings the goals of The Climate Pledge. Mercedes Benz was able to commit 1,800 electric delivery vehicles to Amazon’s European fleet to support the achievement of this goal. Each company brings their knowledge, technology, know-how and opportunities to The Climate Pledge and helps bring the goal for net zero closer.

We may not have all the answers yet. But together, we do have the influence, reach, and ability to decarbonize our business—and the world—at the scale and speed science tells us is absolutely essential.

Science underpins high standards

The Science Based Targets initiative (SBTi) is an invaluable resource for companies to align their emission reductions with the climate science and have supported almost 1,000 companies to get on track for ‘science-based’ greenhouse gas targets. Signatories to The Climate Pledge that already have science-based targets include Amazon, RB, and Verizon. We encourage all signatories to explore whether science-based targets can be useful to meeting their ambitious goals.

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