114 separate companies have committed to the Science Based Targets initiative, committing to set emissions reduction targets in line with science-based fact.
The Science Based Targets initiative announced the news on Tuesday in Paris, at the currently ongoing COP21 United Nations climate negotiations. The announcement was made at the LPAA Business focus event hosted by Caring for Climate at COP21, with the total of companies committing “to set emissions reduction targets in line with what scientists say is necessary to keep global warming below the dangerous threshold of 2 degrees Celsius” reaching 114 — including big names such as Coca-Cola, Dell, Kellogg, NRG Energy, Procter & Gamble, Sony, and more.
Together, the companies participating have a combined annual emissions total of 476 million tonnes of CO2 — which is equivalent to the annual emissions of South Africa, or 125 coal-fired power plants.
Ten companies that have already had their targets approved by the initiative — including those listed above — will reduce their emissions by 799 million tonnes of CO2 over the lifetime of their targets.
“As a global food company, we recognize the significant impacts climate change can have on our business if left unaddressed. That’s why we are taking action across our value chain,” said Ken Powell, chairman and CEO of General Mills, one of the ten. “However, we understand that no one company, industry or government will mitigate climate change. It is an urgent and shared global challenge. Real progress toward more sustainable emission levels will require unprecedented collaboration and collective innovation.”
Kellogg, NRG Energy, and Enel all announced on Tuesday that their targets had been approved as well.
“As a global energy company, Enel is ready to challenge business-as-usual habits and take the lead on transforming the energy infrastructure,” said Francesco Starace, CEO and general manager of Enel. “We are committed to reach carbon neutrality by 2050. This is consistent with the level of de-carbonization required to limit global warming to 2 degrees.”
“I am pleased to announce that Kellogg is setting a new target for the reduction of Greenhouse Gas Emissions,” added John Bryant, chairman and CEO of Kellogg Company. “We plan to cut GHG emissions by 65% across our operations, known as Scope 1 and 2, and, for the first time work with suppliers, known as Scope 3, to help reduce their emissions by 50 percent by 2050.”