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| Race to Zero | |
|---|---|
| Name | Race to Zero |
| Founded | 2020 |
| Type | Campaign |
| Headquartered | United Kingdom |
| Parent organization | United Nations Framework Convention on Climate Change |
Race to Zero is a global campaign launched to mobilize non-state actors to commit to net-zero greenhouse gas emissions by mid-century. It brings together businesses, cities, regions, investors, universities, and other institutions to align with the goals of the Paris Agreement and the scientific guidance of the Intergovernmental Panel on Climate Change. The campaign interfaces with international initiatives such as the United Nations Framework Convention on Climate Change, the UN Environment Programme, and coalitions like the We Mean Business Coalition.
Race to Zero originated in the run-up to the COP26 as part of a broader effort connecting diplomatic processes with non-state climate action. Its objectives include accelerating commitments consistent with limiting warming to 1.5 °C as advised by the Intergovernmental Panel on Climate Change, mobilizing financial flows aligned with the Paris Agreement, and creating credible pathways for entities to reach net-zero in concert with national pledges under Nationally Determined Contributions. The campaign seeks to bridge engagement among signatories from corporate networks like the World Economic Forum, municipal networks such as C40 Cities Climate Leadership Group, and academic consortia including the Global Research Alliance.
Membership in the campaign is open to a wide array of non-state actors: corporations, financial institutions, cities, regions, universities, and buildings portfolio owners. Eligible participants often include multinational corporations such as Microsoft Corporation, Unilever, or IKEA-linked entities, investor groups like BlackRock or CalPERS, city members of C40 Cities and regional authorities such as California, and universities like University of Oxford or Harvard University. To join, entities must make a public commitment to a net-zero target, demonstrate planning aligned with scientific pathways recognized by bodies like the Intergovernmental Panel on Climate Change, and enroll through partners including the United Nations Environment Programme and the Race to Zero Secretariat.
Participants commit to rigorous targets, commonly net-zero CO2 or net-zero greenhouse gas emissions by a specified year, often 2050 or sooner. Pathways invoked draw on technical scenarios from the IPCC Special Report on Global Warming of 1.5 °C, energy transformation models like those used by the International Energy Agency, and land-use guidance from the Food and Agriculture Organization of the United Nations. Commitments typically require setting near-term emissions reduction plans, covering scope 1, scope 2, and sometimes scope 3 emissions as defined by the Greenhouse Gas Protocol, and incorporating removals through nature-based solutions advocated by the Convention on Biological Diversity and engineered carbon dioxide removal paralleling research from institutions such as Carnegie Mellon University and Massachusetts Institute of Technology.
Implementation mechanisms emphasize transparent planning, third-party verification, and annual public reporting. Reporting frameworks referenced include the Greenhouse Gas Protocol, the Task Force on Climate-related Financial Disclosures, and accounting approaches compatible with standards developed by organizations like Science Based Targets initiative and International Organization for Standardization. Verification partners and auditors can include firms in the Big Four accounting firms and certification bodies associated with ISO 14064. Participants are expected to publish emissions inventories, decarbonization roadmaps, and progress updates to enable scrutiny by NGOs such as Carbon Disclosure Project and academic monitors at Stanford University or Imperial College London.
The campaign operates through a secretariat and a network of partner organizations including the UNFCCC, UN Environment Programme, We Mean Business Coalition, and philanthropic funders such as the Children's Investment Fund Foundation. Governance involves advisory groups drawn from civil society organizations like World Resources Institute, scientific institutions including the IPCC, and private sector coalitions such as Business for Social Responsibility. Funding and support come from a mix of philanthropic grants, in-kind contributions from corporate partners, and program-specific financing from foundations and multilateral institutions like the World Bank.
Critics have highlighted issues of greenwashing, reliance on offsetting, and inconsistent coverage of scope 3 emissions, raising concerns echoed by NGOs such as Friends of the Earth and Greenpeace. Academic critiques from scholars affiliated with University College London and University of Cambridge emphasize gaps in verification, the integrity of carbon removal claims, and the tension between voluntary campaigns and regulatory instruments like the European Green Deal. Controversies have included high-profile withdrawals, disputes over corporate membership such as debates involving ExxonMobil or Shell, and legal scrutiny in jurisdictions where consumer and securities regulators like the US Securities and Exchange Commission have examined climate-related disclosures.
Race to Zero has catalyzed a substantial volume of commitments across sectors, drawing participants including multinationals like Apple Inc., financial institutions such as HSBC and Nordea, cities including London, New York City, and Tokyo, and universities like University of Cambridge and Yale University. The campaign’s aggregation of pledges has influenced corporate strategy, investor stewardship by entities like Vanguard, and municipal policy initiatives linked to networks such as ICLEI. Evaluations of impact vary: policy analysts at think tanks like Chatham House and World Resources Institute note catalytic effects on ambition, while urging stronger enforcement, standardized reporting, and alignment with mechanisms under the Paris Agreement to ensure real-world emissions reductions.
Category:Climate change initiatives