H&M, IKEA, Walmart join forces to tackle climate change

Several major retailers, including Walmart, have joined forces to decrease carbon emissions and prevent global warming.

In collaboration with the United Nations Climate Change Conference (COP26) High Level Climate Action Champions and with the assistance of the World Business Council for Sustainable Development, Walmart, H&M, Ikea, and Kingfisher plc have launched the Race to Zero Breakthroughs: Retail Campaign.

The retailers have promised their support for an industry-wide campaign to promote climate action, as well as encouraging other retailers to outline their intentions to cut carbon emissions and keep global warming below 1.5 degrees Celsius. Other retailers can join the Race to Zero initiative by establishing science-based goals, striving to reduce greenhouse gas emissions by half by 2030, and pledging to achieve net-zero vehicle emissions by 2050 at the latest.

By providing sector-specific information and access to networks and best practices, the breakthroughs campaign aids retailers in achieving these objectives. In addition, the campaign will collaborate with trade association partners to raise awareness about the Race to Zero, exchange tools, and resources, and speed up the adoption of net-zero roadmaps.

According to the organization, just 5% of retail firms have pledged to take action to prevent global warming in accordance with the Paris Agreement targets, based on total worldwide industry revenues.

In 2019, Amazon and climate nonprofit Global Optimism cofounded the Climate Pledge, a similar campaign. Members of the Climate Pledge commit to meet the Paris Agreement ten years early and to be carbon-neutral by 2040. Verizon, Siemens, Microsoft, and Best Buy are among the 108 signatories to the commitment.

Peter Bakker, President and CEO of WBCSD, said that this campaign is a call to retailers everywhere to take ambitious climate action as they increasingly recognize the risks posed by climate change across their supply chains and operations. They need more retailers, like H&M Group, Ingka Group (IKEA), Kingfisher, and Walmart, to join the UNFCCC’s Race to Zero and demonstrate leadership and commitment.