More than 600 global companies including Unilever, Netflix, Natura Co. etc. have joined hands and have asked the G20 countries to reduce emissions to 50% by 2030 as part of their effort to save the environment. These corporates are from a wide spectrum of industries.
Following the “Code Red for humanity” warning issued by the UN, these companies have signed an open letter to the G20 leaders urging them to fulfil their commitment of US$100 billion in climate finance yearly for developing nations, stop fuel subsidies by 2025 and have a price on carbon.
They also urged phasing out coal-fired power generation by 2030 for advanced countries and by 2040 for others. G20 countries represent approximately 90% of global GDP and also account for 80% greenhouse emissions.
Currently no G20 country is on track to meeting the 1.5ºC target and while these corporate signatories are already taking concrete steps towards Net Zero, as they look for government support to achieve their goals.