AVEVA has announced its participation in the United Nation’s Race to Zero campaign, which aims to achieve net zero carbon emissions by 2050, while creating jobs, unlocking sustainable growth, and preventing future threats
AVEVA is the 47th company in the FTSE 100 to join the global campaign.
UN's Race to Zero campaign is planning to mobilise a coalition of leading initiatives for reduced carbon emissions, and intends to rally leadership and support from businesses, cities, regions, and investors for a healthy, resilient, zero carbon recovery.
Collectively, the participants now cover nearly 25% of global CO2 emissions and over 50% of GDP. AVEVA’s objective is to build momentum and spur rapid action around decarbonisation, ahead of COP26, where governments must strengthen their contributions to the Paris Agreement.
Peter Herweck, AVEVA CEO, said, “By joining the Race to Zero initiative and aligning to the highest level of ambition for climate targets under the Paris Agreement, AVEVA is leading by example on climate action. We are demonstrating our commitment to work across our entire value chain to help avoid global impacts from climate change. We are also pleased to be joining many of our customers in this initiative, as well as key partners, including Microsoft, Accenture and Schneider Electric that have already committed to this pledge.”
Andrew Griffith MP, the UK’s Net Zero Business Champion commented, “Congratulations to AVEVA on joining the UN’s Race to Zero campaign. This demonstrates great leadership and goes hand in hand with the company’s work to support clients like National Grid and Anglian Water in creating a positive impact on the environment. AVEVA joins 46 other FTSE100 companies in the Race to Zero, together representing over a trillion pounds in market capitalisation. With just 100 days to go until we host the COP26 Summit in Glasgow – the time to act is now.”
Collaborating to nurture sustainability throughout its ecosystem
AVEVA has already joined a number of corporate sustainability initiatives that bring together companies, to work on climate challenges collectively, including BSR and the UN Global Compact. Most recently, AVEVA joined The Renewable Energy Buyers Alliance (REBA), a joint collaboration of large clean energy buyers, energy providers, and service providers that, together with NGO partners, are unlocking the marketplace for all nonresidential energy buyers to lead a rapid transition to a cleaner, prosperous, zero-carbon energy future.
Herweck further commented, “AVEVA remains committed to lead sustainable innovation and we are taking affirmative actions to embed sustainability into our operations, our culture and our core business strategy.” “By being part of the Race to Zero initiative, we are leading by example, and setting the direction we will take to drive sustainability throughout our own operations, and the software we develop for our customers globally. We will continue to formalise our sustainability pledges across all our focus areas as well as develop interim goals to help us report and communicate on our progress, and we look forward to sharing more details in the months to come,” he added.
The AVEVA announcement comes after its recent climate mitigation commitment to reach net zero greenhouse gas emissions across its operations (Scopes one and two) by 2030, as well as its plans to submit ambitious mitigation targets for external validation by the Science Based Targets initiative (SBTi) before the end of the fiscal year.