Global corporations joining hands for zero-carbon, zero-waste effort
Leading global CEOs joined forces on March 23 to launch a campaign encouraging the international business community to take additional steps toward zero-carbon, zero-waste business practices.
A joint letter signed by companies supporting Race to Zero was released on March 23, urging global businesses to invest in measures that bolster competitiveness and cost-saving, while protecting the environment.
The goal of Race to Zero is to inspire sweeping action among global businesses to take on new resource-reduction commitments particularly in China by the campaign’s end in October 2018.
To date, 22 global companies have pledged new reductions in eemissions and waste, including Alibaba Group, Anheuser-Busch InBev, Broad Group, CNOOC Gas and Power Group, Fosun Group and Honeywell, committing to take actions including switching to lowcarbon energy sources, and working with suppliers to increase resource efficiencies.
Partners of the Race to Zero campaign, including We Mean Business, KPMG, SynTao and WWF (China), will provide technical assistance and support to companies that have pledged to develop a new commitment.
Honeywell said it has pledged to reduce China-specific greenhouse gas emissions by 10 percent per dollar of revenue from 2016 levels by 2022 as part of the Race to Zero campaign.
It has voluntarily implemented more than 100 energy efficiency projects in China, and is promoting waste reduction at each of its facilities.
Its newest commitment builds on the company’s continuous GHG emission reductions since 2004; since then, Honeywell has reduced its greenhouse gas intensity by more than 65 percent. Honeywell globally expects to achieve an additional 10 percent GHG emissions reduction per dollar of revenue by 2019 from 2013 levels.
Race to Zero is an initiative of the US-China CEO Council for Sustainable Urbanization, co-convened by the Paulson Institute and the China Center for International Economic Exchanges, led by former US Treasury Secretary Henry Paulson, Jr., and former Vice Premier of China Zeng Peiyan.
“Working with hundreds of companies throughout my career, I’ve observed that the strongest are those that do more with less, invest wisely for the future, and are responsible actors toward people and the planet,” said Paulson Institute Chairman Henry Paulson, Jr.
“Environmental stewardship is a win-win-win. It’s good for the environment, for companies and for consumers.”
According to Zeng, reducing carbon emissions and waste is an obligation of the whole society, and businesses can be positive leaders in this effort.
According to Paulson Institute, research shows that increasing corporate energy and resource efficiencies can result in significant cost savings, which can be redirected to capture new, green, market opportunities.
HP Inc has joined forces with Race to Zero to take additional steps toward zero-carbon, zero-waste business practices. Like other firms taking part in the effort, it plans to switch to low-carbon energy sources, and work with suppliers to increase resource efficiencies in factories and properties.
“We are proud to join the Race to Zero and make the commitment to reduce waste and emissions across our operations. At HP, sustainability serves as a guiding principle for how we conduct business and create solutions that are changing the world,” said Richard Bailey, president of HP in Asia Pacific and Japan.
“I hope HP’s commitment to the Race to Zero acts as a catalyst to inspire others to take action on reducing emissions and developing sustainable business practices,” he added.
Environmental stewardship is a win-win-win.It’s good for the environment, for companies and for consumers.”
Henry Paulson, chairman of Paulson Institute