UK business giants sign up for Race to Zero

30th March 2021 | Commercial Energy

Thirty of the UK’s FTSE 100 companies have 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. The tally of firms committing to the pledge has doubled in the past five months, said UK Energy Department BEIS. The companies include AstraZeneca, BT Group, Sainsbury’s, and Unilever and in total represent a total market capital of £650bn.

Globally, more than 2000 companies of all sizes have joined the UNFCCC Race to Zero so far, and around a third of these of these are British businesses from across sectors such as transport, technology and finance. With the upcoming UN Climate Summit COP26 in Glasgow later this year, the UK Government is calling on more businesses in the UK and around the world to take urgent action on their carbon emissions by signing-up to Race to Zero and setting out clear pathways to get to net zero.

Race to Zero

Business and energy secretary Kwasi Kwarteng said: “Businesses wield incredible influence to drive change across society and the economy – we need to harness this power to fight climate change. “UK businesses are already leading the way in cutting carbon emissions and building back greener – it is fantastic to see so many of our biggest companies already pledging to reach net zero. But more can be done, and so today I am calling on more fantastic British companies to step up, follow suit and pledge to join the fight against climate change.”

UK FTSE100 companies who have signed up to Race to Zero include AstraZeneca, which has committed to achieving zero carbon emissions from its global operations by 2025 and removing its carbon footprint across the entire supply chain by 2030. This involves doubling its energy productivity, using 100% renewable energy for power and heat and eliminating fluorinated man-made gas emissions from its sites.

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