B Corps leading on climate action
Tuesday, 4th February 2020 at 5:00 pm
New commitment from B Corps is 20 years ahead of the 2050 Paris Agreement targets
More than 500 B Corporations have committed to accelerate the reduction of their greenhouse gas emissions to reach net zero by 2030.
During the UN Climate Change Conference in Madrid last December, these B Corps agreed to reduce emissions to reach a 1.5 degree trajectory, leading to net zero 20 years ahead of the 2050 targets set in the Paris Agreement.
This commitment forms part of a significant carbon reduction strategy from B Corps, a relatively new model of business balancing profit and purpose.
Kim Coupounas, the co-chair of B Corp Global Climate Task Force, said there was a global emergency that threatened people’s homes and children.
“As the source and cause of the vast majority of the planet’s greenhouse gases, the business sector is uniquely culpable for the climate crisis – and therefore responsible for demonstrating leadership in eliminating emissions and drawing down carbon as rapidly as possible,” Coupounas said.
“B Corps recognise their agency as individual businesses, and as a collective force, to act. Together, these businesses can positively impact vulnerable communities both today and for generations to come, and in so doing literally change the course of history.”
In a joint statement, the B Corp community said it was vital all businesses demonstrated “leadership in eliminating emissions, drawing down carbon, and ensuring a just transition for displaced workers and communities to a net zero emissions economy”.
It urged all businesses – and the 3,000-plus B Corps in particular – to develop a net zero plan, declare a climate emergency, and accelerate carbon reduction.
Juan Pablo Larenas, the co-founder of Sistema B, said B Corps were answering the call to respond to the climate crisis, by “acting decisively, urgently, and boldly”.
“We hope the B Corps declaring their commitment to be net zero by 2030 will be the powerful beacon that inspires all businesses around the world to follow suit – and that the solutions generated and shared from their hard work in the next 10 years will help make the transition to a net zero future possible,” Larenas said.