We Mean Business and B Lab partner on net-zero push

The two non-profits announced the partnership on Tuesday (2 May), citing a shared desire for driving business “ambition, action, advocacy and accountability” on climate mitigation.

On the ambition and accountability piece, Net-Zero Tracker warned late last year that 80% of large businesses with long-term net-zero targets have set interim goals in line with climate science. It also found that less than one-fifth of companies have net-zero targets fully covering emissions across all scopes.

We Mean Business and B Lab intend to share technical expertise to develop new tools and guidance for the private sector, on the development and delivery of science-based net-zero plans.

A key reason for the partnership is to enable the SME Climate Hub and B Lab to more closely collaborate. The SME Climate Hub was set up in recognition of the fact that SMEs are often excluded from key policy packages and certification schemes on climate, and because they face specific challenges regarding decarbonisation, such as a lack of finance and in-house expertise. Most of the 6,500+ businesses certified as B Corps globally are SMEs.

Beyond providing resources to businesses, the partnership will also advocate for changes to policy to enable more rapid decarbonisation of the private sector.

Referencing the Intergovernmental Panel on Climate Change’s (IPCC) recent synthesis report, We Mean Business Coalition chief executive Maria Mendiluce emphasised the need for “immediate action to drive rapid action towards net-zero” from governments, investors and companies.

She said: “This is our last chance to limit warming to 1.5C and decisive action is needed today to cut emissions and transition to a net-zero economy powered by a global clean energy system.

“By partnering with B Lab, we ensure that a greater number of companies big and small can access the guidance they need to achieve net zero, while fostering business accountability and leadership.”

Related blog: Why empowering SMEs with carbon accounting tools is the key to reducing business emissions

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