Navigating net zero: the climate transition plans of Race to Zero members

In the bustle of September in New York, the UN’s Climate Ambition Summit gathered “first mover and doer” leaders from government, business, finance and civil society are showing up with not just pledges, but credible actions, policies and plans. Their goal is to accelerate the decarbonization of the global economy and deliver climate justice in line with the Secretary General’s Acceleration Agenda. 

Racing towards a better world, those with plans to manage climate risks, seize opportunities and achieve real economic transformation are set to thrive, as underscored by the new Disclosure Framework from the Transition Planning Taskforce. Taking leading action and disclosing transition plans is not only critical in helping non-state actors reach their own climate goals and prepare for upcoming reporting requirements and accelerating global support for disclosure, but also enables others to do the same by creating clarity over the  roadmap to reach net zero by 2050 with near term actions for immediate emission reductions.

Race to Zero’s member companies, including EDP Renováveis, Ørsted, Unilever, Heineken, Netflix, and Danone have unveiled their Transition Plans, setting out how the will reduce near term emissions, setting ambitious targets for carbon neutrality while recognizing the vital role of nature in tackling climate change. Dive deeper into the transition plans of Race to Zero’s largest 500 corporate members through the interactive Data Explorer. 

Not to be outdone, Race to Zero’s finance sector members including Aviva, Allianz, BBVA, NatWest Group, New York State Common Retirement Fund, and Citi also outlined their plans for meeting their net zero targets. Aviva’s and New York’s plans go a step further by showcasing their internal and external policy engagement with net zero, supporting Race to Zero’s new policy criteria known as the 5th P (Persuade).

Across the globe, cities, states, and regions have also demonstrated their commitment to climate action. London, Washington and California  are leading the charge with ambitious climate action strategies. and Guadalajara has set a precedent by publishing a metropolitan-scale transition plan complete with an implementation and planning process. Subnational transition plans underscore the multifaceted benefits of climate action, not only for the environment but also for vulnerable urban populations. For example, Nairobi underscores the positive impact of urbanisation, emphasising green job creation, improved transportation, and an enhanced quality of life.

Even in sectors like healthcare and education, entities are embracing the call to action. Médecins Sans Frontières shared their roadmap integrating climate into all of their medical humanitarian programs by tackling emissions throughout their supply chain, prioritising waste reduction and energy efficiency. Tec de Monterrey has developed a Sustainability and Climate Change Plan targeting key areas such as culture, mitigation, adaptation, education, research, and outreach.

Transformations are underway, and the UN’s Climate Ambition Summit voiced the need for robust plans to provide policy and regulatory certainty. Looking towards the UN’s yearly climate change conference (COP28) in Dubai, non-state actors have a unique opportunity to deliver on their commitments and present ambitious transition plans that drive real-world transformation and foster the ambition needed for a healthier, fairer zero carbon world.

More on Race to Zero

Led by the UN Climate Change High-Level Champions – Dr. Mahmoud Mohieldin and H.E. Ms. Razan Al Mubarak – the Race to Zero is a global campaign rallying non-state actors – including companies, cities, regions, financial, educational, and healthcare institutions – to take rigorous and immediate action to halve global emissions by 2030 and deliver a healthier, fairer zero carbon world. Since June 2020, over 12,500 members have joined the campaign and are committed to the same overarching goal: reducing emissions across all scopes swiftly and fairly in line with the Paris Agreement 

More on Race to Zero’s Criteria

To help accelerate meaningful progress towards halving global emissions by 2030 and to ensure the integrity of the campaign, Race to Zero both sets a minimum floor for robust net zero commitments, and also lays out bold leadership practices for members to strive for. This criteria, known as the 5 P’s, require Race to Zero members to Pledge, Plan, Proceed, Publish and Persuade.

More on the UN High-Level Expert Group’s Integrity Matters Report 

The ‘Integrity Matters’ report lays out basic and critical components of transition plans including actions that will be undertaken to meet all targets, governance and incentive structures, capital expenditures, research and development, skills and human resource development, and public advocacy and ensuring a just transition.