Companies in Action

JLL sets goal to achieve net-zero carbon emissions across all JLL-occupied buildings by 2030. Building on its ambitious science-based target covering Scope 1, 2, and 3 emissions, the real estate services company JLL has become a signatory to the World Green Buildings Council’s Net Zero Carbon Building (NZCB) Commitment. Following the framework of the commitment, JLL will work to decarbonize its global office network of 460 buildings through investments in energy efficiency and renewable energy procurement. Where emissions reductions are not possible, the company will invest in carbon offsets. However, recognizing the need to minimize reliance on carbon offsets to achieve GHG reduction goals, JLL is taking steps to reduce emissions in other parts of its business to help achieve its NZCB commitment, such as through driving up take of renewable energy. To broaden its impact, JLL will also prioritize energy efficiency throughout its portfolio, educate its clients about net-zero carbon commitments and promote action to reduce emissions throughout the real estate industry. The company estimates that these actions will help them eliminate 27,761 tonnes of CO2e across its portfolio. 

Bunge advances efforts to meet no-deforestation commitments and launches financing mechanisms to incentivize farmers. In 2015, Bunge committed to achieving deforestation-free supply chains by 2025 and has been releasing progress reports on an annual basis ever since. In 2019, the company reported having achieved 91% traceability to direct source farms in areas facing a high risk of deforestation in the Brazilian Cerrado, as well as 100% traceability in Paraguay and Argentina. Among the initiatives that are helping it meet its target is a partnership between Bunge, Banco Santander Brasil S.A. and The Nature Conservancy to develop a financing mechanism to reward soy farmers in Brazil who commit to producing crops without deforesting land or converting native vegetation. Farmers who make these commitments are eligible for loans of up to 10 years, while most loans currently available to soy farmers have terms of a year or less to finance crop costs. This mechanism is part of a broader effort that seeks to promote the growth of the soy market in a sustainable way. Expanding on its work to protect forests, Bunge has committed to shifting its business practices to reduce its use of fresh water, another critical natural resource. Bunge has set a leading example in this area through establishing risk-differentiated water reduction targets--targets that reflect the severity of water stress in a particular region. Bunge has had notable success, reporting in 2019 that the company had reduced its  freshwater consumption by 21.2% from 2016 levels, going far beyond the company’s original goal of 10% reduction between 2016 and 2026. 

Best Buy signs The Climate Pledge, committing to being carbon neutral across its business by 2040. As the need to address climate change becomes increasingly urgent, companies are being pushed by their peers to take bold steps to reduce carbon emissions. One high-profile example is The Climate Pledge, an initiative cofounded by Amazon and Global Optimism to push businesses from across sectors to become carbon neutral by 2040. As a signatory, Best Buy is committed to regularly measuring and disclosing its greenhouse gas emissions, pursuing decarbonization strategies in line with the Paris Agreement and using carbon offsets to close the gap between any remaining emissions originating from its operations. This commitment builds on Best Buy’s existing sustainability strategy, which helped it successfully reduce the company’s environmental impact by 55% since 2009. Best Buy identifies energy efficiency improvements, investments in renewable energy and increasing sustainable product options for customers as strategies that will be key to helping the company achieve carbon neutrality by 2040. Best Buy has already invested in renewables through the creation of the Best Buy Solar Field, which generates the electricity for the equivalent of 260 Best Buy stores each year. 

Microsoft launches aggressive plan to remove all carbon emissions since its founding and become carbon negative by 2030. The climate crisis is motivating companies to develop sophisticated approaches for curbing their emissions, including investing in new solutions and rallying their partners to follow suit. Microsoft has committed to be carbon negative by 2030 and to remove its historical emissions--since its founding in 1975--by 2050. The company commits to abate its Scope 1 and 2 emissions by pursuing a number of tactics, including transitioning 100% of its energy use to renewables by 2025 and achieving full electrification of its fleet by 2030. Going beyond its operations to support and incentivize suppliers, Microsoft will cut out more than half of its Scope 3 emissions by 2030 by establishing new procurement processes and expanding the company’s internal carbon price to cover Scope 3 emissions. A key part of this strategy is the launch of a $1B Climate Innovation Fund, which will be used to spur the growth of carbon reduction and capture technologies over the next four years. In addition to its ambitious emissions reduction strategy, Microsoft has set a number of leading corporate sustainability goals, most notably a commitment to address the challenges facing the world’s freshwater supply by achieving net positive water usage in the company’s operations by 2030. 

Morgan Stanley becomes the first U.S. bank to commit to net-zero financed emissions. As business practices vary widely by sector, so do the implications for climate risk and action. While many companies’ sustainability goals focus on reducing emissions from their direct operations, leading banks are focused on tackling emissions originating from their portfolio--which is where the largest part of their climate impact lies. Morgan Stanley took a bold step as the first U.S. bank to commit to achieving net-zero financed emissions, which covers Scope 3 emissions originating from its portfolio, by 2050. This announcement was paired with a commitment by the bank to take a leadership role in developing the tools and methods needed to comprehensively measure financed emissions. Through collaboration with the Partnership for Carbon Accounting Financials (PCAF), Morgan Stanley will work to develop a standardized carbon accounting standard to be used across the financial sector. Once developed, the company has committed to set more specific climate targets using the methodologies established through PCAF. 

Cisco makes strides to address supplier GHG emissions. At Cisco, as for most technology companies, GHG emissions from the supply chain far outweigh those coming from direct operations. In its 2019 CSR report, the technology conglomerate reported having exceeded its goal of avoiding 1 million metric tonnes of GHG emissions in its supply chain from a 2012 baseline. Propelled by this success, Cisco is taking things further. It has committed to reducing supply chain-related Scope 3 GHG emissions by 30% in absolute terms by 2030 from a 2019 baseline and having 80% of Cisco’s top suppliers (by spend) set an absolute GHG emissions reduction target by 2025. To achieve this, the company plans to further supplier engagement, reduce use of air transportation, collaborate with peers in the electronics industry to increase access to renewable energy and reduce energy consumption. Over the past decade, the company, in collaboration with industry peers, has gained deeper visibility into supplier emissions and continues to rally partners to use the CDP supply chain questionnaire to manage and report relevant data. Cisco also reported in 2019 that 24% of its suppliers are publicly reporting an absolute GHG reduction target. 

Walmart announces plan to produce zero carbon emissions throughout its operations by 2040. In 2020, Walmart, the world’s largest retailer, enhanced its sustainability goals with a commitment to achieve zero carbon emissions across the company’s direct operations by 2040. Without using carbon offsets, Walmart intends to reach its goal through procuring 100% of the power needed to run its facilities from renewable sources, eliminating emissions from its vehicles through fleet electrification and transitioning to the use of low impact refrigerants for cooling its stores, clubs and data and distribution centers. Walmart's announcement also includes a robust commitment to invest in land and ocean preservation to address growing nature loss. Key strategies the company will pursue include driving the adoption of regenerative agriculture practices and investing in the preservation of at least one acre of natural habitat for every acre of land developed by Walmart inside of the U.S..

Unilever advances work to achieve zero deforestation in key commodities and invests €1b in conservation efforts. Over the last decade, hundreds of global companies have made public commitments to eliminate deforestation from their operations and extended supply chains. In 2010, consumer products giant Unilever, along with members of the Consumer Good Forum, committed to achieving net-zero deforestation in four commodities, palm oil, soy, paper and beef, a pledge that has since been extended to include tea. By the end of 2019, Unilever reported that 62% of its agricultural raw materials were sourced sustainably. The company has been transparent about the challenges it has faced in achieving this goal, namely overcoming the lack of traceability in its supply chains. Unilever has committed to investing in digital technologies, including satellite monitoring, geolocation tracking and blockchain, to improve the traceability of its supply chain and confirm its products are sourced sustainably. In 2020, the company doubled down on its efforts by committing to zero-deforestation across its entire supply chain by 2023 and establishing the Climate and Nature Fund. The fund will invest €1 billion in initiatives, such as reforestation and carbon sequestration, to counter the effects of deforestation. Both efforts will help the company achieve its ambitious goal of reaching net-zero emissions across its value chain by 2039.

Nestlé makes strides to deliver on its no-deforestation commitment and reports on progress. Along with many consumer products companies, in 2010 Nestlé made a pledge to achieve no-deforestation in its products by 2020. Over time, the company has worked with its suppliers and other stakeholders to realize this vision. In 2019, the company announced that 77% of its top five agricultural commodities (palm oil, pulp and paper, soy, meat and sugar) were verified as deforestation-free compared to 63% in 2018. Nestlé expects to continue to make strides towards its target, estimating 90% of its products will be deforestation-free by the end of 2020. The company has reached this milestone by using a combination of tools, such as supply chain mapping, certification standards, on-the-ground verifications and, and most notably, real-time satellite imagery from the Starling system, a system developed by Nestlé to identify areas at risk of deforestation. The company released a report in 2019 that provided an update on its progress, breaking down the data by commodity and the verification system applied.

Google commits to operate on 24x7 carbon-free energy and to secure 5 gigawatts of new carbon-free energy in manufacturing regions by 2030. As a carbon neutral company since 2007 and one of the largest corporate buyers of renewable energy, Google has positioned itself as a leader in sustainable energy. By 2019, the company had matched its energy usage with 100% renewable energy purchases for three years in a row. Google achieved this target through a combination of aggressive energy efficiency initiatives and renewable energy purchases and by retiring carbon offsets for the remaining emissions. In the fall of 2019, the technology giant announced an ambitious commitment to spend more than $2 billion in new renewable energy infrastructure across the U.S., South America and Europe, including 18 new energy deals, positioning the company among the largest corporate buyers of renewable energy. Google’s announcement increases the company’s renewable energy portfolio by more than 40%. While the majority of the company’s renewable energy purchases have been focused on wind, the recent deal doubles the capacity of the company’s global solar portfolio through investments in solar farms in North Carolina, South Carolina and Texas. Building on this commitment and extending its impact into the product side, the company in early 2020 launched a new carbon-intelligent platform that shifts the timing of many non-priority computer tasks to when low-carbon power sources are most plentiful, directly supporting the company's pledge to achieve 24x7 carbon-free energy facilities.

General Mills commits to 100% renewable energy by 2030. General Mills has announced joining the RE100 corporate initiative, pledging to source 100% renewable electricity by 2030. The announcement builds on earlier renewable energy commitments and expands the company’s goals beyond the U.S. The company’s strategy to achieve this goal includes investing in large renewable energy projects throughout the world, such as large-scale wind farms and anaerobic digestion facilities. General Mills has also signed ambitious Power Purchase Agreements (PPAs) with leading providers whose credits would equal 100% of electricity used annually at the company’s U.S. facilities. General Mills’ renewable energy goals build on a strong commitment to tackling the climate crisis, exemplified through the company’s 2020 Science Based Target to limit warming to 1.5℃, putting the company on track to be net zero by 2050 and aligning the company with the goals established in the Paris Agreement.

Apple sets goal to shift all electricity used throughout its supply chain to renewable sources by 2030. Apple is pursuing a multi-part strategy to achieve an ambitious goal of reaching carbon neutrality across its entire business by 2030. Transitioning energy used in its supply chain to renewables is a key part of Apple’s strategy, alongside planned investments in the development of low-carbon product designs and nature-based carbon removal solutions. Apple has a strong history of renewable energy commitments, announcing in 2018 that all of its global facilities had transitioned to renewable energy. However, Apple recognized that the larger opportunity for carbon reductions lies within its supply chain, given that nearly 75% of the company’s carbon footprint originates from its global manufacturing partners. Apple is pairing its efforts to achieve this goal with its Racial Equity and Justice Initiative, through its Impact Accelerator. The Accelerator will prioritize investment in minority-owned businesses and in communities that are disproportionately impacted by climate change. 

IKEA pledges to zero out emissions from home deliveries.The climate crisis demands we decarbonize transportation--the highest-emitting sector in the U.S--and electric vehicles are an essential component of this transition. Bolstered by a strong commitment to tackle emissions from deliveries, the Swedish furniture giant plans to use electric vehicles for all of its in-home furniture deliveries by 2025. The company has already achieved the goal in Shanghai ahead of schedule and is working to meet its target in other cities, including Amsterdam, Los Angeles, New York and Paris by the end of 2020. To reach this goal, given the company does not own its fleet, IKEA is supporting transportation partners in their development of new electric van and truck technologies and is also investing in charging infrastructure. A pioneering signatory to The Climate Group's EV100 pledge and the Corporate Electric Vehicle Alliance (CEVA) launched by Ceres, IKEA continues to advocate for the power of collaboration and the role of supportive policies that will catalyze the uptake of electric fleets across sectors globally.

Clif Bar & Company commits to electrifying its entire fleet by 2030 and supporting employees in making the shift to a cleaner commute. With companies controlling more than half the vehicles on the road in the U.S. today, they have a significant role to play in leading the transition to electric vehicles. A member of the Corporate Electric Vehicle Alliance (CEVA) and EV100, California-based food company Clif Bar has committed to electrifying its fleet and installing EV charging stations in all its facilities by 2030. Looking to support employees who are eager to participate in climate solutions, Clif Bar launched the Cool Commute Program, an initiative that provides financial incentives for employees to purchase fuel-efficient hybrid and electric vehicles, along with commuter bicycles. Through this program, the company’s employees have purchased nearly 600 fuel-efficient and electric cars.

Amazon commits to make all its shipments with net-zero carbon emissions. In 2019, as part of The Climate Pledge, Amazon launched Shipment Zero, an initiative to make every Amazon shipment with net-zero carbon emissions by 2040, with the interim goal of having half of all shipments achieve net-zero carbon emissions by 2030. As part of the initiative, Amazon ordered 100,000 custom electric delivery vans from EV start-up Rivian, which will start delivering the fleet in 2021. It expects to have all 100,000 vehicles on the road by 2030. While investing in new fleet technologies is a strong component of the strategy, Amazon is also working on complementary tactics to reach its goal, including maximizing the efficiency in its current vehicles, optimizing delivery logistics and using alternative delivery methods where feasible. Recognizing that meeting these goals will require innovation and collaboration, Amazon joined the Corporate Electric Vehicle Alliance (CEVA) to help accelerate the transition to low-carbon and net-zero transportation options at scale.