The “1.5°C Supply Chain Leaders” and Exponential Roadmap Initiative welcome Mastercard to the fast growing group of global corporations driving climate action throughout global supply chains in line with science. The initiative already consists of global giants, like Ericsson, IKEA, Telia, BT Group, Unilever, Nestlé, Telefónica, Microsoft, Tech-Mahindra and Ragn-Sells.
The 1.5°C Supply Chain Leaders is hosted by the Exponential Roadmap Initiative, founded together with Ericsson, IKEA, Telia, BT Group and Unilever, and supported by the We Mean Business Coalition and International Chamber of Commerce.
Mastercard pledged earlier this year to reach net zero emissions by 2050 and continues to lead on supplier sustainability, in line with its current and future Science Based Targets. The 1.5°C Supply Chain Leaders will work together with their suppliers and business partners to support large and small suppliers with concrete resources and tools through the SME Climate Hub, such as the 1.5°C Business Playbook.
“This is a crucial year for climate action and we, like other companies, have ambitious carbon reduction targets that will help drive exponential impact for the planet. Addressing the emissions of our global supply chains is an important step for all of us as we progress toward net zero, and we look forward to working more closely with the 1.5°C Supply Chain Leaders,” said Kristina Kloberdanz, Chief Sustainability Officer, Mastercard.
“In order to halve emissions by 2030 we need leaders with great reach like Mastercard to join forces with other innovative, transformative and disruptive businesses to accelerate 1.5°C aligned value chains and to help consumers and businesses to take everyday decisions for a stable planet” says Johan Falk, Head of Exponential Roadmap Initiative and lead author of the 1.5°C Business Playbook.
The 1.5°C Supply Chain Leaders will encourage small and medium-sized suppliers to join the SME Climate Commitment and take climate action through the SME Climate Hub, a one-stop-shop for businesses with fewer than 500 employees to make an internationally recognized climate commitment and access best-in-class tools and resources to mitigate their environmental impact and build resilient businesses for the future.
“Corporations from every industry and region of the world are committing to net-zero ambition because it’s good for business, people and the planet, but they won’t be able to reach their net-zero targets if their suppliers don’t decarbonize too. I applaud Mastercard for its bold leadership in tackling supply chain emissions through the 1.5C Supply Chain Leaders and SME Climate Hub, and call on other corporations to follow suit in the lead-up to COP26,” said María Mendiluce, CEO of the We Mean Business Coalition.
“The 1.5°C Supply Chain Leaders demonstrate the vital role that multinationals can play in accelerating climate action across their value chain by supporting and encouraging their suppliers to join Race to Zero through the SME Climate Hub. Given the amount of suppliers multinational companies have, and with their huge purchasing value, this will be an exciting turning point – and we look forward to seeing exponential growth in corporate climate action as we work towards COP26 and beyond,” said Nigel Topping, UN High Level Climate Action Champion for COP26.
The 1.5°C Supply Chain Leaders have made the following commitment:
We have all committed to reducing our greenhouse gas emissions across our value chain in line with the 1.5°C ambition. We integrate climate in our business strategy and drive climate action as part of our wider role in society (as members of the Exponential Roadmap Initiative and/or Business Ambition for 1.5°C).
We will work together with our suppliers and business partners to join us on this journey by taking action aiming to halve greenhouse gas emissions before 2030, reaching net-zero before 2050 and communicate progress annually, e.g. as outlined in the SME Climate Commitment. To promote, reward and inspire action, we plan to make climate related targets and performance a key supplier purchasing criteria within one year.
We recognize the challenge this poses for our suppliers and we will support them, working together to reach our shared goals. In addition, we will support SMEs globally through the SME Climate Hub with tools, knowledge and best practice for implementing a robust climate strategy, to support broad action.
About 1.5°C Supply Chain Leaders:
The 1.5°C Supply Chain Leaders will work together to drive climate action throughout global supply chains and support small and medium-sized enterprises (SMEs) through the SME Climate Hub, understanding the need to work with and support suppliers to halve emissions before 2030 and achieve net zero emissions before 2050. The 1.5°C Supply Chain Leaders is hosted by the Exponential Roadmap Initiative, founded together with Ericsson, IKEA, Telia, BT Group and Unilever and supported by the International Chamber of Commerce (ICC) and the We Mean Business coalition. Find out more at: https://exponentialroadmap.org/supply-chain-leaders/
About the Exponential Roadmap Initiative:
The Exponential Roadmap Initiative is for innovators, transformers and disruptors taking action in line with 1.5°C, with the mission to halve emissions before 2030 through exponential climate action and solutions. The Exponential Roadmap Initiative is an accredited partner of United Nations’ Race to Zero, TED Countdown and a founding partner of the 1.5°C Supply Chain Leaders and the SME Climate Hub. Find out more at: https://exponentialroadmap.org/
About the SME Climate Hub: The SME Climate Hub is an initiative founded by the We Mean Business Coalition, the Exponential Roadmap Initiative, the International Chamber of Commerce, and the United Nations Race to Zero campaign, in collaboration with Oxford University and Normative. This partnership is an exercise in radical collaboration that opens the doors for SMEs to join the United Nations Race to Zero campaign — an international campaign that brings together an unprecedented coalition of real economy actors and 120 governments committed to achieve net-zero emissions by no later than 2050. Find out more at: www.smeclimatehub.org
About the UNFCCC Race to Zero Campaign: Race to Zero is the UNFCCC Race to Zero campaign rallying non-state actors – including companies, cities, regions, financial and educational institutions – to take rigorous and immediate action to halve global emissions by 2030 and deliver a healthier, fairer zero carbon world in time. All members are committed to the same overarching goal: reducing emissions across all scopes swiftly and fairly in line with the Paris Agreement, with transparent action plans and robust near-term targets. Find out more at: https://racetozero.unfccc.int
About the We Mean Business Coalition: We Mean Business Coalition is a global coalition of nonprofit organizations working with the world’s most influential businesses to take action on climate change. The coalition brings together seven organizations: BSR, CDP, Ceres, The B Team, The Climate Group, The Prince of Wales’s Corporate Leaders Group and the World Business Council for Sustainable Development. Together we catalyze business action to drive policy ambition and accelerate the transition to a zero-carbon economy. Find out more at: wemeanbusinesscoaltion.org
About the 1.5°C Business Playbook: All companies and organisations must halve emissions before 2030 in the Race to Zero emissions before 2050. The 1.5°C Business Playbook guides companies and organisations of all sizes to exponential climate action and helps them align with the 1.5°C ambition. It is a concrete tool to facilitate the first step of halving emissions, which is grounded in the latest science and focuses on simplicity and speed. Find out more: exponentialbusiness.org
For more information or interviews, please contact: Anna Almberg, Press contact, Exponential Roadmap Initiative, Email: [email protected], Tel: +46 (0)7 09 81 67 82