'Keep stepping up': Race to Zero raises the bar for 'net zero' investors

Eyes on 2030

Cecilia Keating
clock • 8 min read
The Race to Zero campaign brings together cities, businesses and investors | iStock
Image:

The Race to Zero campaign brings together cities, businesses and investors | iStock

The Race to Zero campaign has significantly raised the threshold that investors, companies, cities and sub-national governments must meet to credibly claim to be working towards net zero emissions by mid-century, in a move that should, in theory, turbocharge the near-term decarbonisation of corporate and investment activity around the world.

An initiative from the UN climate convention, the group this morning published new criteria that its ten thousand members must meet within a year or risk exclusion from the campaign. 43 asset managers publish net-zero targets for 2050 The document focuses in large part on what is required of members to achieve the 50% cut in global CO2 emissions that leading climate scientists say is needed by 2030 if the world is to move on to a 1.5C warming trajectory. Members of the campaign must at a minimum commit to halting deforestation and "phasing down and out" all fossil fuels by restrict...

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