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Adani Transmission Ltd (<keyword id="447291" type="General" weightage="80" keywordseo="atl" source="Orion">ATL</keyword>), India's largest private power distribution company and the transmission arm of the diversified <keyword id="6367820" type="General" weightage="50" keywordseo="adani-group" source="Orion">Adani Group</keyword>, has submitted its Green House Gases (GHG) emission reduction plans, focussing on Science Based Targets initiative (SBTi), an international drive for containing global warming. ATL has submitted its detailed plan and targets for GHG emission reduction to SBTi within one year towards its commitment to contribute to contain global warming. As a part of its continued focus on sustainable growth and its net zero journey, ATL committed for the SBTi in October 2021. ATL will act in alignment with the much-needed climate action and devise a strategy to restrict global warming to 1.5 degree Celsius. To meet these targets associated with the SBTi commitment, ATL has rolled out definite strategies. In a first-of-its-kind initiative in the country, ATL's subsidiary AEML (Adani Electricity Mumbai Ltd) has introduced green tariffs, which enables AEML consumers to opt for green energy and receive a Green Power Certificate every month. This initiative is popular with consumers who wish to reduce their carbon footprint. "We take seriously all initiatives focused on contributing to India's climate commitment through resolute climate action," said <keyword id="175186" type="General" weightage="50" keywordseo="anil-sardana" source="Orion">Anil Sardana</keyword>, MD &amp; CEO, Adani Transmission Ltd. "Submitting targets for the SBTi reiterates our commitment to devising sustainable ways of doing business. It also reinforces India's efforts to reduce climate risk through individual and collective action. A culmination of several smaller actions such as energy efficiency initiatives at sub-stations, de-linking of substations from the grid for auxiliary power while connecting them with solar energy, and introduction of efficient transmission lines aimed at reducing losses, combined with wider actions such as introduction of green tariff at AEML, will significantly contribute towards achieving positive climate action." Signing up for the SBTi is an important step in the context of India's commitments to the Paris Climate Agreement. ATL became a signatory of UN Energy Compact at COP26 held in Glasgow in 2021. Through SBTi, companies are setting science-based emissions reduction targets - across their entire value chain - that are consistent with keeping global warming at 1.5 degree Celsius above pre-industrial levels. SBTi committed companies get 24 months to submit their targets. ATL, after committing to SBTi in Oct 2021, is one of the few companies to submit the emission reduction targets within one year. SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (<keyword id="1044129" type="General" weightage="50" keywordseo="wri" source="Orion">WRI</keyword>) and the <keyword id="62483" type="General" weightage="50" keywordseo="world-wide-fund-for-nature" source="Orion">World Wide Fund for Nature</keyword> (<keyword id="18630" type="General" weightage="50" keywordseo="wwf" source="Orion">WWF</keyword>). It defines and promotes best practices in science-based target setting and independently assesses companies' targets. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rec-gets-maharatna-company-status/articleshow/94368132.cms">REC gets 'Maharatna' company status</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rupee-slumps-51-paise-to-all-time-low-of-80-47-against-us-dollar/articleshow/94367387.cms">Rupee slumps 51 paise to all-time low of 80.47 against US dollar</a>

Adani Transmission to become net-zero by 2050

<a href="https://www.businessinsider.com/financing-a-sustainable-future-2022"></a><div type="image" title="Alberto Carrillo Pineda is SBTi’s cofounder and chief technical officer." height="2092" width="2790" msid="92443005" hostid="261" sizebytes="504570"></div><ul class="summary-list"><li>Science Based Targets Initiative, or SBTi, helps large companies identify <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">sustainability</keyword> targets.</li><li>SBTi's cofounder said organizations are signing on due to growing expectations from investors.</li><li>Here's how SBTi is helping companies set science-based greenhouse-gas emission-reduction targets.</li></ul>Achieving sustainability doesn't happen overnight. It requires setting the right targets — clear short- and long-term goals for reducing greenhouse-gas emissions across all stages of a business. <a href="https://sciencebasedtargets.org/">Science Based Targets initiative</a>, or SBTi, is a nonprofit that works with some of the world's largest companies — from <a href="https://sciencebasedtargets.org/companies-taking-action/case-studies/net-zero-case-study-astrazeneca">AstraZeneca and </a><a href="https://sciencebasedtargets.org/companies-taking-action/case-studies/sony">Sony to </a><a href="https://sciencebasedtargets.org/companies-taking-action/case-studies/procter-gamble">Procter &amp; Gamble</a> — to identify and hit those targets. SBTi boasts being the first framework for helping corporations set net-zero targets based on the latest climate science and the <a href="https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement">2015 Paris Agreement</a>, a treaty on climate change. Since its founding in 2015, companies with approved targets have seen 29% reductions. The scale is growing, too, with partner companies representing 35% of global market capitalization. Alberto Carrillo Pineda, SBTi's cofounder and chief technical officer, said more organizations are interested in the company's services due to growing expectations from investors and regulators that companies address emissions and environmental, social, and governance (ESG) factors across their supply chains.In 2019, the UK passed a <a href="https://www.gov.uk/government/news/uk-becomes-first-major-economy-to-pass-net-zero-emissions-law">law to achieve net-zero emissions</a> by 2050. This March, the <a href="https://www.sec.gov/news/press-release/2022-46">US Securities and Exchange Commission issued a proposed rule</a> that would require registrants to include climate-related disclosures in reports. SBTi is a key vendor in the sustainability revolution, enabling companies to demonstrate to investors and other stakeholders that they're working toward emission reductions, filling in the gaps left by standard ESG disclosures. "More and more investors are looking at the climate targets of companies in their portfolios, and they're engaging with companies that don't have targets in place yet to incentivize them to set targets," Pineda told Insider. Here's a look at how the process to set science-based targets works and how businesses benefit. <h2>Offering industry-specific technical assistance helps companies set realistic emissions targets</h2>Setting climate-based targets alone can be difficult for businesses because many don't know where to start, Pineda said. That's where SBTi can help. SBTi works with companies by offering clear industry-specific guidance on how to set emissions goals to achieve net-zero. The organization provides worksheets, how-to guides, and online tools, then evaluates a business' targets based on the latest climate science, Pineda said. "The transition to a net-zero economy requires a transformation of every aspect of the economy — transportation, energy production, the food system, the industrial system, and the land-use system," he said, adding that the path to achieving net-zero often varies by industry. Pineda said SBTi helps "translate" the transition to net-zero based on the specifics of a company or sector, such as using carbon credits and guidelines for different types of passenger, freight, and commercial vehicles in the <a href="https://sciencebasedtargets.org/sectors/transport">transportation sector</a>, so they can set more realistic targets. Companies in the <a href="https://sciencebasedtargets.org/sectors/oil-and-gas#what-is-the-sb-tis-policy-on-fossil-fuel-companies">oil and gas sector</a> aren't yet able to set targets with SBTi, but the organization is developing guidance for that industry. SBTi <a href="https://sciencebasedtargets.org/about-us/funders">receives funding</a> from companies across industries, governments, and foundations. In November, the organization<a href="https://sciencebasedtargets.org/news/sbti-secures-37m-usd-to-scale-up-exponential-growth"> raised $37 million</a> from Bezos Earth Fund, IKEA Foundation, and Laudes Foundation to help support its growth.<h2>SBTi helps hold companies accountable for sustainability goals</h2>SBTi charges companies $9,500 to set and validate their targets, which starts with organizations registering <a href="https://docs.google.com/forms/d/e/1FAIpQLSfib_cuqxfiixppglIOCIG-N6Hxq-FUQzJRUVOrobFD-lkPYA/viewform">on the SBTi website</a> and submitting a <a href="https://sciencebasedtargets.org/resources/files/SBT-Commitment-Letter.pdf">commitment letter</a>. Companies have 24 months to set and submit targets, which Pineda said may involve collecting data or conducting energy modeling. SBTi provides <a href="https://sciencebasedtargets.org/resources/legacy/2019/03/SBTi-criteria.pdf">recommendations</a> and <a href="https://sciencebasedtargets.org/sectors">industry-specific guidance</a> to assist organizations in developing targets. After a company submits its targets, SBTi analyzes them to ensure they cover most direct and indirect emission sources, that the target is ambitious — companies are required to pledge to reduce their emissions by at least 4.2% a year — and whether a company is setting short-term emission-reduction targets or long-term net-zero targets. Pineda said SBTi requires companies to have short-term goals for approval so that they're driving action to reach net-zero.Once SBTi approves a target, it publishes a <a href="https://sciencebasedtargets.org/companies-taking-action/">list of companies taking action</a> on its website and encourages organizations to share details about their targets with stakeholders. SBTi expects companies to report progress every year and recalculate targets every five years to ensure they remain valid and align with the latest science, Pineda said. SBTi had approved nearly 1,100 targets by the end of 2021 and saw over 1,100 commitments.The organization is working on a new <a href="https://sciencebasedtargets.org/measurement-reporting-and-verification-mrv">measurement, reporting, and verification</a> (MRV) system, which will launch in 2023, to standardize how companies report progress on targets, which Pineda said will increase transparency and accountability. <h2>Setting targets boosts a company's credibility with investors </h2>The benefits for companies that set emission-reduction and net-zero targets include increased profits, improved investor confidence, heightened innovation, decreased regulatory uncertainty, and stronger brand reputation, according to SBTi. For example, setting science-based targets led <a href="https://sciencebasedtargets.org/companies-taking-action/case-studies/sony">Sony to develop a new type of plastic</a> made of 99% recycled materials that saves 80% carbon emissions when the company manufactures it. More than a third of companies say setting targets is <a href="https://sciencebasedtargets.org/blog/six-business-benefits-of-setting-science-based-targets">helping their business become more resilient </a>to future regulations. Working with SBTi brings a sense of credibility to these goals, Pineda said, and it helps companies communicate their sustainability initiatives and the progress they're making. It also helps fill in gaps for investors and financial institutions seeking information about a company's ESG disclosures. "More transparency on environmental and climate action makes it easier for investors to understand if companies are transitioning to net-zero or not," he said.

How to design sustainability targets the right way, according to a nonprofit working with Sony and Procter & Gamble

<ul class="summary-list"><li>Thousands of companies with climate goals use confusing jargon like "carbon neutral" and "net zero."</li><li>Corporate climate advisors told Insider what makes a pledge credible or misleading. </li></ul>The amount of jargon thrown around in climate circles can feel dizzying.Corporate climate pledges are rife with terms like "carbon neutral," "net zero," and "carbon negative," leading to confusion among consumers and investors, among others, about what it all means.It's little surprise so many of us are perplexed. There's no standard definition of these claims, nor are there many institutions policing whether a company is using them to mislead the public about its climate record.UN Secretary General António Guterres <a href="https://www.youtube.com/watch?v=RMACBZzdcTQ" target="_blank" rel="noopener">put it this way in November</a> during the annual climate conference: "The problem is that the criteria and benchmarks for net-zero commitments have varying levels of rigor and loopholes wide enough to drive a diesel truck through."That said, there are global efforts underway to rid the market of greenwashing and help companies trying to slash their greenhouse-gas emissions do it with integrity and transparency. Regulators are also ramping up scrutiny of the sustainable-finance markets.Insider spoke to several experts about how they assess whether a company's climate claims are legit. Here's their advice:<h2>Unpacking 'net zero'</h2>If a company sets a net-zero goal, that generally implies it plans to reduce greenhouse-gas emissions across its entire value chain as much as possible by 2050, said Simon Fischweicher, the head of corporations and supply chains for CDP North America, a nonprofit that runs the world's largest environmental-disclosure program. The goal should cover emissions from a company's own operations, such as office buildings, manufacturing plants, and energy consumption, as well as from its suppliers and customers. These are known as Scope 1, 2, and 3 emissions. A credible net-zero goal also includes near-term targets, because absent short-term goals it appears as though corporate leadership isn't serious, said Mike Wallace, the chief decarbonization officer at Persefoni, a software company that helps companies disclose their climate footprint."When a CEO signs off on these targets now, but they are far enough away that the CEO will most likely be dead, are they really committed?" Wallace said.A good indication that a company's net-zero pledge is solid is sign-off by the <a href="https://sciencebasedtargets.org/companies-taking-action" target="_blank" rel="noopener">Science Based Targets initiative</a>, which has a partnership with CDP, the UN Global Compact, World Resources Institute, and World Wildlife Fund.The initiative has strict criteria for net-zero goals, including requiring that companies reduce emissions as much as possible before purchasing carbon offsets to meet the goal. SBTi also ensures that a company's climate strategy is aligned with limiting global warming to 1.5 degrees Celsius above preindustrial levels. This is a threshold scientists say could avert the most catastrophic impacts of the climate crisis, such as massive drought, habitat loss, and famine in some parts of the world. Holding warming to 1.5 degrees is the overarching goal of the Paris Climate agreement.<h2>When 'net zero' may be greenwashing </h2>The UN in November <a href="https://www.un.org/sites/un2.un.org/files/high-level_expert_group_n7b.pdf" target="_blank" rel="noopener">identified when a net-zero claim might be greenwashing,</a> such as with banks and oil companies that continue to invest in and build fossil-fuel infrastructure.Some companies, including ExxonMobil, also have net-zero goals that only cover direct operations."That means there aren't goals to reduce emissions associated with the use of oil and gas, which is the largest source when looking at the fossil-fuel sector," Fischweicher said, pointing to all the fuel used to power cars, trucks, and buildings.The UN also said companies might use their lobbying power to undermine government climate policies or have a weak governance structure that doesn't tie executive compensation to reaching environmental and social goals. "It's really good if the board is involved somehow," Wallace said. Another red flag: companies that buy "cheap" carbon credits that lack integrity instead of immediately cutting their own emissions, according to the UN. <h2>Why 'carbon neutral' can be misleading</h2>The UN's concerns about carbon offsets are why claims of an organization or product being "carbon neutral" can also be worrisome. This assertion typically indicates that the company is buying offsets to compensate for emissions it hasn't reduced on its own. A carbon offset represents one ton of carbon that was prevented or removed from the atmosphere because of a project elsewhere in the world, such as protecting forests or building renewable-energy plants.But climate experts don't want companies to solely rely on offsets instead of slashing their own carbon footprint, in part because there are concerns about the quality of some offsets and whether they are truly reducing emissions. "I think there is rightfully some skepticism around climate neutral," Fischweicher said.<h2>'Carbon negative'</h2>There's fewer definitions of what it means to be "carbon negative," Fischweicher said. But in general, it indicates that a company is going to achieve zero emissions and then go even further by removing its historical contributions to the climate crisis.Microsoft <a href="https://blogs.microsoft.com/blog/2020/01/16/microsoft-will-be-carbon-negative-by-2030/" target="_blank" rel="noopener">made a splash in 2020 when it announced</a> that it aimed to be carbon negative by 2030. Achieving that goal requires the development of carbon-removal technologies, which remain nascent and expensive. Reforestation is, for now, Microsoft's main method of zapping carbon from the atmosphere. "Some companies are starting to think about targets that go beyond neutralizing their own impact and taking back carbon from the atmosphere," Fischweicher said.

A guide to climate buzzwords and what they say about corporate promises

<a href="https://www.businessinsider.com/financing-a-sustainable-future-2022"></a><div type="image" title="a woman working in the MAS Holdings building" height="4000" width="5333" msid="91109056" hostid="261"></div><ul class="summary-list"><li>MAS Holdings is an <keyword id="11899424" type="UNKNOWN" weightage="60" keywordseo="apparel" source="Orion">apparel</keyword> manufacturer for brands like <keyword id="12062051" type="UNKNOWN" weightage="60" keywordseo="lululemon" source="Orion">Lululemon</keyword> and New Balance in <keyword id="11916313" type="UNKNOWN" weightage="60" keywordseo="sri-lanka" source="Orion">Sri Lanka</keyword>.</li><li>The company committed to reducing greenhouse gas emissions by 25.2% and is already making strides.</li><li>Initiatives so far include generating renewable energy, eliminating waste, and reducing water usage.</li></ul>While the fashion industry emits some <a href="https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/fashion%20on%20climate/fashion-on-climate-full-report.pdf" target="_blank" rel="nofollow noopener sponsored">2 billion metric tons</a> of greenhouse gasses a year, Sri Lanka-based <a href="https://www.masholdings.com/" target="_blank" rel="nofollow noopener sponsored">MAS Holdings</a> is taking action.A manufacturer for big brands like Lululemon, New Balance, and Thinx, the athleisure and intimate apparel purveyor has made major public commitments, like reducing greenhouse gas emissions by 25.2% by 2025. <div type="image" title="headshot of Sid Amalean" height="1462" width="1950" msid="91109057" hostid="261"></div>"We're trying to buck the trend and really be the difference and the change in the industry," Sid Amalean, the head of sustainable business at MAS Holdings, told Insider. In January, the organization launched <a href="https://www.masholdings.com/plan-for-change/" target="_blank" rel="nofollow noopener sponsored">MAS Plan for Change,</a> which outlines goals for improving operations by 2025 in three focus areas: products, lives, and the planet. MAS also signed onto the <a href="https://sciencebasedtargets.org/" target="_blank" rel="nofollow noopener sponsored">Science Based Targets initiative</a> (SBTi), a multi-organization partnership that helps private-sector companies set emissions targets, track progress, and see how they compare to others in their industry.Founded in 1987 and currently employing more than 100,000 people, the manufacturer has facilities in 15 countries, including Kenya and Mexico, and brought in $2 billion in 2018.<div type="image" title="people working in a factory" height="675" width="900" msid="91109058" hostid="261"></div>Amalean said the company is financing the climate-action work through debt, general revenue, and an independent nonprofit, <a href="https://www.masholdings.in/the-foundation/" target="_blank" rel="nofollow noopener sponsored">MAS Foundation for Change</a>, that the company set up in 2022 to fund long-term, large-scale projects with no return on investment, like building a water reservoir at its headquarters. Under its master plan, MAS has also committed to having 85% of its suppliers and all of its joint-venture investments adopt science-based targets. The investment is worthwhile and will build brand equity, resonate with consumers, and help the planet, Amalean added. "Just setting aside the obvious social and environmental reasons to be doing this, even if you're just a 100% business-minded and profit-minded, it still makes sense."Other manufacturers like South Korea-based <a href="https://www.hansoll.com/_ENG/html/csr.html" target="_blank" rel="nofollow noopener sponsored">Hansoll Textile</a> have also pledged to reduce carbon emissions and create more sustainable products by 2030, and more than 130 brands <a href="https://unfccc.int/news/fashion-industry-steps-up-climate-ambition-with-renewed-charter" target="_blank" rel="nofollow noopener sponsored">signed the Fashion Industry Charter for Climate Action</a> to achieve net-zero emissions by 2050.<h2>Making progress on <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">sustainability</keyword> through inclusivity, renewable energy, and waste management</h2><div type="image" title="two women holding a baby between them" height="800" width="1066" msid="91109059" hostid="261"></div>Even before launching the Plan for Change, MAS was dedicated to social and environmental causes, Amalean said. In 2003, they launched <a href="https://www.masholdings.com/plan-for-change/lives-changed-for-good/" target="_blank" rel="nofollow noopener sponsored">Women Go Beyond</a> to address skills gaps for female workers in Sri Lanka and create gender equality in the business. Now 22% of management positions at the company are held by women. Initiatives like these or biodiversity restoration, where there's absolutely no clear revenue source, are considered operational expenditures or a cost of doing business.The company also aims to promote inclusivity, fair wages, and safe workplaces and offers childcare at 20 of its 50 facilities. Generating more renewable energy than it consumes is a central part of its sustainability initiative, and as of December 2021, 57% of the company was running on renewable energy sources.MAS recently completed the first phase of project <a href="https://www.masfabricpark.com/mas-photon.html" target="_blank" rel="nofollow noopener sponsored">Photon</a>, the largest multisite solar rooftop installation in Sri Lanka. It features 48,000 <keyword id="11957104" type="UNKNOWN" weightage="60" keywordseo="solar-panels" source="Orion">solar panels</keyword> spanning one million square feet and generates enough electricity to power 14,000 homes. Amalean said it was funded using 70% debt and 30% private equity investment, totaling about $12 million for 16 megawatts. More phases are in the works, he added.For initiatives like solar projects that have a positive net present value (NPV), it's relatively easy to find financing options, Amalean said. Banks are more willing to lend when there's a clear recurring revenue and associated payback period.<div type="image" title="a man installing solar panels" height="5499" width="7332" msid="91109060" hostid="261"></div>Eliminating waste is another goal. Amalean said MAS monitors and tracks waste at its facilities and strives to divert most of it from landfills. More than 40% of nontoxic, nonhazardous waste materials are recycled, reused, or turned into new resources.MAS has also reduced water usage in <keyword id="6362048" type="UNKNOWN" weightage="60" keywordseo="manufacturing" source="Orion">manufacturing</keyword> by 39% through rainwater harvesting, water-free dying processes, and reverse osmosis water filtration to reuse wastewater, Amalean added.<h2>Promoting accountability in the supply chain and measuring success</h2>In 2021, MAS generated 21% of its revenue from sustainable projects — the goal is 50% by 2025. Amalean said the company is also focused on sourcing recycled, organic, natural, and responsibly-sourced raw materials, making its design and manufacturing processes more efficient, and using post-consumer waste to create new products. Additionally, MAS is requiring suppliers to comply with the <a href="https://www.roadmaptozero.com/about?locale=en" target="_blank" rel="nofollow noopener sponsored">Zero Discharge of Hazardous Chemicals</a> program, a fashion industry initiative to eliminate harmful chemicals from the supply chain. Suppliers are "strongly encouraged" to sign up for the <a href="https://apparelcoalition.org/the-higg-index/" target="_blank" rel="nofollow noopener sponsored">Higg Facility Environmental Module</a> assessment, Amalean said, and MAS tracks suppliers' progress using FEM and other tools, including <a href="https://www.cleanchain.com/about-us/" target="_blank" rel="nofollow noopener sponsored">CleanChain</a> and <a href="https://www.scivera.com/" target="_blank" rel="nofollow noopener sponsored">Scivera</a>. MAS's sustainable business team of about 15 works companywide to ensure its own planet-focused progress, Amalean said, and uses a customized calibration tool to track how each facility is meeting environmental targets. Different facilities are at different stages, he added.While Amalean's team leads the company's climate-action initiatives, everyone in every department has sustainability goals. "Everybody's thinking about it and motivated to be sustainable," he said. "Otherwise, we get into silos and it's like, 'Oh, the sustainability team over there, they want us to do things.' There's no they and him and her. Everybody's doing this together."

How a Sri Lanka-based apparel manufacturer for brands like Lululemon is incorporating and funding sustainability initiatives

By Yoshita Singh United Nations, May 19 () Four Indian corporations are among over 150 global companies that have signed a statement urging governments around the world to align their COVID-19 economic aid and recovery efforts with the latest climate science that prioritises a faster and fairer transition from a grey to a green economy.Dalmia Cement (Bharat) Chief Executive Officer Mahendra Singhi, Polygenta Technologies Chief Marketing Officer Makarand Kulkarni, Tech Mahindra Chief Executive Officer C P Gurnani and Wipro's Chief Executive Officer Abidali Neemuchwala are the signatories to the statement, along with top executives hailing from 34 sectors across 33 countries.The other signatories include global pharma giant Novartis headed by Vas Narasimhan and Adobe, led by Shantanu Narayen, AstraZeneca, Burberry, Capgemini, Colgate Palmolive, Hewlett Packard Enterprise, Nestlé, Sanofi and Unilever. The statement is the largest ever UN-backed CEO-led climate advocacy effort and has signatories from 155 companies with a combined market capitalisation of over USD 2.4 trillion and representing over five million employees."As countries work on economic aid and recovery packages in response to COVID-19, and as they prepare to submit enhanced national climate plans under the Paris Agreement, we are calling on Governments to reimagine a better future grounded in bold climate action," the joint statement said.Noting that the corporations remain committed to do their part to achieve a resilient, zero carbon economy, the top executives urged governments "to prioritise a faster and fairer transition from a grey to a green economy by aligning policies and recovery plans with the latest climate science.""We must move beyond business-as-usual and work together in solidarity to deliver the greatest impact for people, prosperity and the planet," they said adding that in order to recover better from COVID-19, the corporations will continue to demonstrate that the best decisions and actions are grounded in science, invest in recovery and resilience for a systemic socio-economic transformation and work with governments and scale up the movement."If we work together, these efforts will help reduce vulnerability to future shocks and disasters, and build community resilience. A systemic shift to a zero-carbon and resilient economy is within our reach - our only future depends on making this vision a reality," the statement said.UN Secretary-General António Guterres welcomed the ambitious, science-based actions from leading companies who are demonstrating to policy-makers that green growth remains the best growth strategy."Saving lives and livelihoods, and building a prosperous, inclusive and sustainable future, are at the heart of our efforts to recover from COVID-19. We can beat the virus, address climate change and create new jobs through actions that move us from the grey to green economy.Many companies are showing us that it is indeed possible and profitable, to adopt sustainable, emission-reducing plans even during difficult times like this."The statement comes as governments around the world are preparing trillions of dollars worth of stimulus packages to help economies recover from the impacts of the coronavirus pandemic, and as they prepare to submit enhanced national climate plans under the Paris Agreement.In the coming weeks, several major economies will take key decisions in their recovery efforts, including the European Union Recovery Plan, new stimulus packages from the United States of America and India, and the G7 Heads of State summit in June.The business voices are convened by the Science Based Targets initiative (SBTi) and its Business Ambition for 1.5°C campaign partners, the UN Global Compact and the We Mean Business coalition.The SBTi, which is a collaboration between CDP, the UN Global Compact, World Resources Institute and WWF, independently assesses and validates corporate climate targets against the latest climate science.A joint press release by the Science Based Targets initiative, the UN Global Compact, and the We Mean Business coalition said the 155 companies have already set, or committed to set, science-based emissions reduction targets.By signing the statement, they are reaffirming that their own decisions and actions remain grounded in science, while calling on governments to "prioritise a faster and fairer transition from a grey to a green economy." Policy and spending that incorporates climate targets will reduce vulnerability to future shocks and disasters, create good jobs, reduce emissions and ensure clean air, according to a study from Oxford University. YAS RUP

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Adani Transmission to become net-zero by 2050

IANS

How to design sustainability targets the right way, according to a nonprofit working with Sony and Procter & Gamble

Erica Sweeney

A guide to climate buzzwords and what they say about corporate promises

Catherine Boudreau

How a Sri Lanka-based apparel manufacturer for brands like Lululemon is incorporating and funding sustainability initiatives

Erica Sweeney

Four Indian corporations among companies urging world leaders for net-zero recovery from COVID-19

PTI

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