H&M, Ikea, B&Q and Walmart team up to fight climate change
// H&M Group, Ikea, Walmart and Kingfisher join forces to fight climate change as part of Race to Zero campaign
// They pledged to encourage other retailers to present their plans to achieve carbon reduction targets aligned with 1.5 ° C.
// Only 5% of retail businesses have so far committed to taking action to limit global warming
H&M, Ikea, B&Q and Walmart have launched a new climate change initiative to encourage other retailers to meet their carbon reduction targets.
The initiative is known as the Race to Zero Breakthroughs: Retail Campaign and is conducted in partnership with the high-level climate action champions of COP26 and supported by the World Business Council for Sustainable Development (WBCSD) .
H&M Group, holding company Ikea Retail Ingka Group, parent company B&Q Kingfisher and Walmart have pledged their support to accelerate a move in the retail industry to encourage other retailers to expose their plans to meet targets. reduction cells aligned at 1.5 ° C.
The Race to Zero campaign says the retail industry faces “unprecedented challenges” due to climate change, which have only been accentuated by the Covid-19 pandemic.
He added that the imperative to take action to limit warming to 1.5 ° C “has never been higher”.
So far, only five percent of retail businesses – out of total global industry revenue – have committed to taking action to limit global warming in line with Paris Agreement targets.
Retailers can join the Race to Zero effort by setting science-based goals, striving to halve greenhouse gas emissions by 2030, and pledging to achieve net carbon emissions of by 2050 at the latest.
The campaign is also helping retailers achieve these goals by providing industry-specific advice and access to networks and best practices, as well as working with partner trade associations to raise awareness, share tools, resources and accelerate marketing. adoption of net zero roadmaps.
“I encourage the retail industry to join us and take immediate climate action to halve global emissions by 2030. Together we can win Race to Zero,” said Nigel Topping, champion UN High Level Climate Change Conference for COP26.
WBCSD Managing Director Peter Bakker said: “This campaign is a call on retailers around the world to take ambitious climate action as they increasingly recognize the risks posed by climate change in their retail chains. supply and their operations.
“We need more retailers to join the UNFCCC’s race to zero and show leadership and commitment, such as H&M Group, Ingka Group (Ikea), Kingfisher and Walmart. “
Bakker also stressed that “the climate emergency, together with the loss of nature and growing inequalities, are the biggest and most complex challenges of our time”.
“Only by joining forces and collectively rethinking industries, like retail, will it be possible to tackle it,” he said.
“Governments, investors and businesses are joining together to support a path to limit global temperature rise to 1.5 ° C, in line with the goals of the Paris Climate Agreement – the only viable way to people and the planet. “