Bayer, Mars, PepsiCo, and P&G Announce Collaboration on Net Zero Playbook
Research and development teams from seven multinational corporations, including Procter & Gamble, PepsiCo, Mars, and Bayer, collaborate to define essential concepts to assist businesses in achieving net zero emissions.
More than 5,200 companies from across the world have joined the UN Race to Zero pledge to reduce their greenhouse gas emissions to zero by 2050 or reach "net zero" by offsetting emissions. And several have set ambitious goals to reach net zero even more quickly.
While some are on track, a new report by the NewClimate Institute revealed that the companies surveyed would only reduce their emissions by 23 per cent on average by 2030, falling far short of the figure of nearly halving in the next decade that scientists say is necessary to limit global warming to 1.5 degrees Celsius.
Many organisations say the race to net zero is more complicated than anticipated.
Science Group Sustainability has convened R&D and science and technology executives from seven global organisations to develop collaborative solutions for addressing these difficulties technically and scientifically and eventually assist businesses in achieving their net zero goals.
Procter & Gamble, PepsiCo, Mars, packaging specialist Amcor, Bayer's crop science branch, and chemical giants Stepan Company and Solvay SA are among the seven companies.
Michael Zeitlyn, President of Advisory Services at Science Group Sustainability, said:
"Reducing greenhouse gas emissions is complex and brings immense technical challenges. Innovation has a vital role to play, but it can't go far enough in isolation. We need to see strategic alignment across multiple business functions, from R&D and product stewardship to procurement and compliance departments.”
Science Group Sustainability has created a Net Zero Playbook and published a condensed version describing the seven participants' tested techniques.
As a tool for R&D leadership in addressing the challenge of carbon reduction, this report demonstrates how the R&D function can inspire new ways of thinking and working that prioritise the reduction of carbon emissions. It also includes a maturity model, detailing and describing the ten principles that companies can adopt as they commit to, plan for, and act on their goals.
Zeitlyn says that while the specifics vary between companies and industry sectors, there are many common challenges and much can be learned from each other, not least the need for a joined-up effort both within the organisation and across the supply chain.
“We are all on a journey to net zero, and it's going to be tough, but we can achieve more when we work together.”
Source: Business Chief
