The Race to Zero is a global campaign aligned with the Paris Agreement, aiming to mobilize non-state actors to take ambitious action on climate change. It seeks to achieve net-zero greenhouse gas (GHG) emissions by 2050 at the latest. The campaign recognizes that governments alone cannot tackle the climate crisis and requires action from businesses, cities, regions, investors, and other organizations.
The Race to Zero campaign is open to a wide range of non-state actors who can join and participate in the initiative. This includes businesses, cities and regions, investors and financial institutions, universities and academic institutions, non-governmental organizations (NGOs), healthcare organizations, and the sports and entertainment industry. The campaign recognizes the importance of collective action from diverse sectors and stakeholders in addressing climate change. Participants are required to meet the minimum criteria outlined in the Five ‘P’s to ensure their commitments and actions align with the goals of the Race to Zero campaign.
Race to Zero criteria
The campaign sets minimum criteria known as the Five ‘P’s, which serve as the starting line for participation:
Pledge: Participants must commit to reaching net-zero emissions as soon as possible, but no later than 2050. They should set interim targets aligned with the goal of a fair share of the 50% global reduction in CO2 by 2030. The targets must cover all GHG emissions, including scopes 1, 2, and 3 for businesses, territorial emissions for cities and regions, and land-based emissions.
Plan: Participants need to disclose a Transition Plan, City/Region Plan, or equivalent within 12 months of joining the campaign. The plan outlines how they will meet the Race to Zero criteria, including actions to be taken within the next 12 months, within 2-3 years, and by 2030.
Proceed: Immediate action must be taken through available pathways to achieve net-zero emissions, consistent with interim targets. Participants are encouraged to contribute to sectoral breakthroughs where relevant.
Publish: Participants must publicly report progress on both interim and long-term targets, as well as the actions being taken. The reporting should be done at least annually, following a standardized, open format, and shared through platforms linked to the UNFCCC Global Climate Action Portal.
Persuade: Participants should align external policies, engagement, and association memberships with the goal of halving emissions by 2030 and achieving global net-zero emissions by 2050 within 12 months of joining.
The Race to Zero is interconnected with other carbon reduction frameworks and standards
The Race to Zero campaign is interconnected with other carbon reduction frameworks and standards through its alignment and collaboration with various initiatives and networks. While the campaign provides its own minimum criteria for participation, it recognizes and leverages the existing frameworks to enhance its effectiveness and credibility. Here are some key connections:
Science-Based Targets initiative (SBTi): The SBTi is closely linked to the Race to Zero campaign. SBTi provides a recognized methodology for companies to develop science-based targets aligned with the Paris Agreement. Participants in the Race to Zero can utilize the SBTi framework to ensure the credibility and ambition of their emissions reduction targets.
Carbon Disclosure Project (CDP): The CDP is an important platform for companies to disclose their environmental data and strategies. The Race to Zero campaign encourages participants to report their progress in a standardized format, and the CDP offers a reporting framework that aligns with the campaign’s goals. The data and insights from CDP reports contribute to the overall transparency and accountability of the Race to Zero initiative.
Global Reporting Initiative (GRI): The GRI provides a widely recognized framework for sustainability reporting. The Race to Zero campaign encourages participants to report their progress against targets in a standardized, open format. GRI’s reporting guidelines can be utilized by participants to ensure transparency and consistency in their sustainability reporting.
UNFCCC Global Climate Action Portal: The Race to Zero campaign connects with the UNFCCC’s Global Climate Action Portal, which serves as a platform for reporting and showcasing climate actions. Participants can report their progress and share their achievements through this portal, enabling broader visibility and accountability.
Through these interconnections, the Race to Zero campaign leverages the expertise, frameworks, and reporting mechanisms provided by various carbon reduction initiatives. This integration strengthens the overall effectiveness and credibility of the campaign, promotes transparency, and facilitates collective action towards achieving the global climate goals.
Towards zero-carbon economy
The campaign’s goal is to create a domino effect by engaging a wide range of non-state actors, inspiring more organizations to join and increasing momentum towards achieving the Paris Agreement’s objectives. It complements government actions and bridges the gap between current emissions reduction pledges and what is necessary to limit global warming to safe levels.
The Race to Zero campaign is a critical driver for accelerating the transition to a zero-carbon economy. By mobilizing businesses, cities, regions, investors, and other non-state actors, it aims to achieve a sustainable and resilient future for all, in line with the goals of the Paris Agreement.