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The Race to Zero Breakthroughs: Retail Campaign
The Race to Zero Breakthroughs: Retail Campaign is a call to retailers everywhere to take ambitious climate action.
Climate change is a central challenge for the retail industry. Find out why Best Buy, H&M Group, Ingka Group (IKEA), Kingfisher plc and Walmart have pledged their support to accelerate a movement in the retail industry to drive climate action and encourage other retailers to set out their plans to achieve 1.5 degree aligned carbon reduction targets.
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Understanding that we cannot overcome the challenges we face in fully transitioning to net zero alone, we – Best Buy, H&M Group, Ingka Group (IKEA), Kingfisher plc and Walmart – have come together with the COP26 High Level Climate Action Champions and the World Business Council for Sustainable Development (WBCSD) to pledge our support to accelerate a movement in the retail industry to collectively drive climate actions as part of the Race to Zero.
The Race to Zero: Breakthroughs Retail Campaign aims to inspire more retailers worldwide to set science-based targets aimed at halving greenhouse gas emissions by 2030 and achieving net-zero carbon emissions by 2050 at the latest. The engagement is an opportunity for retailers to work with other retailers and with trade association partners at the national, regional and global levels to accelerate a whole-economy transition to deliver a healthier, resilient, carbon-neutral world.
Together we can achieve real breakthroughs for customers, employees, communities worldwide and the planet. Now is the time for the retail sector to transform, to drive collective action and to create true value.
“I encourage the retail industry to join us and take immediate climate action to halve global emissions by 2030. Together, we can win the Race to Zero,” Nigel Topping, UN High Level Climate Champion for COP26.
Retail associations at the global, regional and national level representing different sectors (such as food and agriculture retailers, fashion, electronics, house furniture) are welcome to join the Race to Zero.
While retailers increasingly recognize the risks posed by climate change across their supply chains and operations, today only 5% of retail sector businesses by total global industry revenues have joined the UNFCCC Race to Zero. Retail associations may not be aware of the Race to Zero, may lack the resources to get involved or may face challenges locally. There is low member engagement in sustainability work and low capacity to help members set targets for and achieve net-zero emissions in their businesses.
“At a time when the climate crisis might seem too big to solve, we are proud to be a founding member of the Race to Zero Breakthroughs 2030: Retail. Together, we will be able to make a meaningful and positive impact on the planet by joining forces and collectively rethinking how we do business,” Corie Barry, CEO, Best Buy.
“We are determined to be a part of the solution, but to achieve systemic change, industry-wide collaboration will be key,” Helena Helmersson, CEO H&M Group.
Engagement in the Race to Zero Retail Campaign is an opportunity for retail associations to help accelerate a whole-economy transition for a healthy, resilient, zero net carbon future. This is a chance for global, regional and national associations to embrace radical collaboration by building close relationships with members and actively helping and supporting them as they strive to set and achieve their targets. As a Retail Campaign Accelerator, trade associations will help spread awareness of the Race to Zero and amplify its influence widely across sectors and regions. Retail Associations can become an Accelerator if they drive at least 20% of their membership to join the Race to Zero. By working more closely with governments and informing and positively shaping the regulatory environment – and with the support and influence of the core retail members – retail associations will become authorities on climate topics and build momentum with their member base. This is an opportunity to highlight that everyone must play their part.
“We are in the most important decade and it will require radical collaborations and actions from businesses, society and governments. At IKEA, we have committed to becoming climate positive by 2030 and as part of that, we are also committed to the 1.5°C goal in the Paris Agreement. This movement seeks to engage the retail sector and by working together and acting with speed, focusing on what makes real impact, we can truly make a difference. For people and the planet,” Jesper Brodin, CEO, Ingka Group I IKEA.
“Urgent action is needed to address the climate crisis. Given the far-reaching impact of the retail sector, we must step up with action and leadership and build a more sustainable future and reach net zero by 2050. The Race to Zero initiative needs everyone in,” Doug McMillon, President and CEO, Walmart Inc.
Engagement in the Race to Zero Breakthroughs: Retail Campaign is an opportunity for retailers to help the retail sector accelerate a whole-economy transition for a healthy, resilient, zero-carbon future. Retailers will receive sector-specific guidance, access to networks and a ready-made strategic template to achieve net-zero emissions, as well as the chance to amplify and endorse all work for the benefit of their stakeholders.
“We want to work with our fellow retailers to ensure our industry helps lead the transition to a net zero future,” Thierry Garnier, CEO, Kingfisher plc.
Accelerator Tool Kit for Retail Associations
Net Zero Roadmap For The Retail Industry – Example provided by the British Retail Consortium (BRC)
Retailers can join the Race to Zero effort by setting science-based targets, working to halve greenhouse gas emissions by 2030 and committing to achieve net-zero carbon emissions by 2050 at the latest.
The breakthroughs campaign helps retailers achieve these goals by providing sector-specific guidance and access to networks and best practices. The campaign will also work with trade association partners to drive awareness about the Race to Zero, share tools, resources and accelerate the adoption of net-zero roadmaps.
For more information, contact the Race to Zero Breakthroughs Retail Campaign Manager, DJ Forza, at email@example.com +41 789 24 7100.