And no, it’s not a race to the bottom…
Amid calls from business leaders for a post-coronavirus recovery to be green, last week, the government launched its COP26 Race to Zero campaign, which coincided World Environment Day on 5 June.
With COP26 in Glasgow postponed to November 2021 and the UN’s World Meteorological Organisation stating that the world is “way off track” in meeting its Paris Agreement commitments, the global Race to Zero campaign aims to mobilise businesses, investors cities and regions to reach net-zero by 20250, and in doing so, rally their national governments to set net-zero targets.
Speaking at campaign’s launch, Business Secretary Alok Sharma who is President of COP26, said that following the Covid-19 pandemic the world needed to come together to create a “fairer, greener recovery”. He highlighting clean energy, clean transport, nature-based solutions, adaptation and resilience as areas of particular concern, which needed to be underpinned
“From releasing capital for green projects, to making electric cars cheaper to buy, the opportunities of the green economy are broad. And by working together, we can make progress faster,” he said.
Climate Ambition Alliance
Race to Zero is a key campaign of the UN’s Climate Ambition Alliance, which currently consists of 73 countries, 14 regions, 398 cities, 786 businesses and 16 investors. Launched at COP25 in December 2019, the Alliance’s remit is to commit countries to submit more ambitious climate action plans (or Nationally Determined Contribution) as soon as possible in 2020.
The Race to Zero campaign, led by the UK and Chile, aims to mobilise more companies, investors, cities and other non-national government stakeholders to join the Alliance ahead of COP26.
“The UK is hugely determined and committed to work together with our global partners to tackle the climate crisis. Every country must come forward as soon as possible in 2020 with a more ambitious NDC,” said Claire O’Neill, the former President of COP26 at the Alliance’s launch.