Business Ambition for 1.5 °C: Our Only Future is a communications and advocacy campaign calling for businesses to step up and do their part in limiting global temperature rise to 1.5°C tin response to the global climate crisis, and in the lead up to the upcoming UN Climate Action Summit. The call-to-action was announced by more than 25 business, civil society and UN leaders in June 2019, and it calls on companies to commit to setting verifiable science-based targets at 1.5°C and achieve net-zero emissions economy by 2050.
Since the launch of the Business Ambition for 1.5°C — Our Only Future campaign, the number of companies committing to align their science-based emission reduction targets with a 1.5°C trajectory is increasing rapidly, with more than 75 Chief Executive Officers committing to the 1.5°C pledge as of 2019. The companies represent 26 countries with 2.10 million employees, as well as a wide range of 22 sectors, such as telecommunications (16%), chemicals (9%), construction & materials (9%), pharmaceuticals & biotechnology (7%), financial services (7%) and electronic & electrical equipment (7%).
The campaign will continue to run after the UN Climate Action Summit 2019 for more companies to sign up and build momentum on corporate climate action, sending an important market signal to create tipping points for industries to align with a net-zero future to limit global warming to 1.5 °C .
Building a prosperous, net-zero carbon economy by 2050 will require transformational change across the economy. A growing body of analysis and evidence makes it clear that such a transition is achievable but only with decisive business leadership supported by ambitious government policies. Businesses joining the campaign are playing a key role in this transition through decarbonizing their own operations and articulating the targets and policies they need or want to see from Governments to help accelerate this transition. Governments can use this opportunity to make clear their economic development pathways and plans to enable companies to invest decisively in a net-zero future. Through this positive ambition loop, private and public partners can drive more meaningful and ambitious climate action.