WACKER Joins the UN’s Race To Zero Initiative
New York, Sep 22, 2021
At the New York Climate Week WACKER has announced it is joining with other companies from key German industries to support the UN’s initiative on climate neutrality.
By engaging in the UN’s Race to Zero initiative, WACKER is voluntarily committing to the 1.5 °C target and undertaking to issue transparent progress reports on its course toward climate neutrality. Besides Wacker Chemie AG, the same pledge is being made by Deutsche Post DHL Group, thyssenkrupp Steel Europe AG, Schüco International KG and Union Investment – all member companies of Stiftung 2°. These companies are joining a group of frontrunners of Stiftung 2° which just recently had announced their participation in the Race to Zero: Allianz SE, Aurubis AG, Deutsche Telekom AG, HeidelbergCement, Otto Group and PUMA.
“As one of the first chemical companies worldwide, we are today joining the UN’s initiative on climate neutrality,” explained the WACKER chairman Dr. Christian Hartel. “The transformation in our sector requires international cooperation. Only with large quantities of renewable electricity at internationally competitive prices can the energy-intensive industry successfully move towards climate neutrality.”
This was announced at the international event “Climate Neutrality made in Germany – Making decarbonization work for all sectors”, which was organized by Foundation 2° and the Brunswick Group at the New York Climate Week.
Race to Zero (R2Z) is the UN’s global campaign to rally leadership and support from businesses, cities, regions, investors for a healthy, resilient, zero carbon recovery. To participate in Race to Zero, companies must make voluntary commitments
- to achieve climate neutrality by 2050 at the latest
- to prepare a climate goal for 2030 consistent with the 1.5 °C target
- within 12 months of joining, to publish an action plan to achieve the 2030 interim goal and the long-term 2050 goal
- to report annually on the progress in achieving the target
So far, over 1,300 companies, 450 cities, 74 investors, 23 regions and 560 universities have engaged in the initiative. Together with the 120 countries of the Climate Ambition Alliance, these players are responsible for 25% of global CO2 emissions and over 50% of GDP. It is the biggest climate alliance in history.