Procter & Gamble, Salesforce, HP, ASOS and Nespresso, each with well-established sustainability goals, are among the latest to join the Climate Pledge. They are part of a group of 86 new companies to join the pledge.
More than 200 companies have now signed the agreement developed by Amazon and Global Optimism. The Climate Agreement aims to achieve net zero carbon by 2040, 10 years ahead of the Paris Agreement.
Procter & Gamble leads the new group of businesses signing on to the agreement, enhancing its already developed sustainability goals. The company announced its Ambition 2030 program in 2018 and since 2010 the company has reduced its emissions by 52%. It also has increased its purchase of renewable electricity by 97%. Procter & Gamble plans to reach net zero emissions throughout its operations, including transportation, supply chain and from raw material to retailer by 2040.
Salesforce made new climate commitments earlier in 2021 that will be integrated in supply chain contracts to help suppliers reduce their carbon emissions. Its Sustainability Exhibit will be apart of all its contracts moving forward. HP plans to reduce its emissions by 50%, compared to 2019, by 2030 and be net zero by 2040 across its entire operations.
Amazon and Global Optimism began the Climate Pledge in 2019 and continues to rapidly grow involvement in the initiative. The number of companies taking part in the goal has quadrupled since February 2021, when 53 companies had signed on. The pledge has support from businesses across virtually every industry, including transportation, technology, food and building.
Businesses that have signed the Climate Pledge generate more than $1.8 trillion in revenue annually and have more than 7 million employees across 26 industries in 21 countries. Those involved in the agreement will mitigate 1.98 billion metric tons of carbon emissions from a 2020 baseline. That is equivalent to 5.4% of the current global emissions each year.
Companies that sign on to the Climate Pledge agree to measure and report greenhouse gas emissions on a regular basis, implement decarbonization strategies in line with the Paris Agreement, and neutralize any remaining emissions to achieve net zero by 2040.