Croda International Plc, the company that uses smart science to create high performance ingredients and technologies that improve lives, is signatory to an open letter to all G20 leaders, urging them to keep the Paris Agreement’s 1.5°C goal within reach.
The letter, signed by over 600 businesses from across the G20 countries and organised by the We Mean Business Coalition, states that as these countries account for approximately 90% of global GDP and almost 80% of global trade and GHG emissions, the G20 has a collective responsibility, and opportunity, to demonstrate global leadership to decisively address climate change.
Signatories to the letter have specifically called on these leaders to continue to work towards the 1.5°C ambition of the Paris Agreement by:
- Strengthening Nationally Determined Contributions (NDCs) in line with at least halving global emissions by 2030 and committing to achieve net-zero emissions by no later than 2050.
- Committing to ending new coal power development and financing immediately and develop plans to phase out coal-fired power generation by 2030 for advanced economies, and 2040 for other countries, while promoting electrification of transport and uptake of renewable energy across sectors.
- Aligning public finance, COVID-19 recovery spending and fiscal policies with a 1.5°C trajectory, while ensuring adequate support for adaptation and resilience measures.
Already committed to ambitious sustainability goals, this year Croda become the third major chemical company in the world with a verified 1.5°C Science Based Target and have committed to becoming net zero by 2050.
Lending its voice to urge leaders and other organisations to follow its sustainability leadership is not new for Croda. The company has also previously signed an open letter to the UK government, urging a clean and just recovery plan following the COVID-19 pandemic, and most recently has been a voice in urging the UK government to set out a comprehensive Net Zero Strategy.
Steve Foots, Chief Executive Officer at Croda said: "We are committed to becoming the most sustainable supplier of innovative ingredients and recognise the importance for all countries and organisations to work together put climate related issues at the top of the agenda. The 1.5°C ambition of the Paris Agreement is pivotal for us to minimise the most catastrophic effects of climate change and protect our world for generations to come. Now is the time for us all to convert ambitious climate goals into action and drive emission reduction programs across countries, economies and supply chains.”