Corporate ESG – Race to Zero

What is the Race to Zero?

The Race to Zero is a global campaign to mobilize action and ambition from businesses, cities, regions, and investors in support of a healthy, resilient, zero carbon recovery from the COVID-19 pandemic. The campaign is led by the United Nations Framework Convention on Climate Change (UNFCCC) and aims to accelerate the transition to a low-carbon economy and achieve net-zero emissions by 2050.

The Race to Zero has three main components:

1. The Race to Zero Dialogues: The Dialogues are a series of high-level virtual events that bring together leaders from the public and private sectors to discuss solutions to the climate crisis and accelerate the transition to a zero-carbon economy.
2. The Race to Zero Commitments: The Commitments are a platform for businesses, cities, regions, and investors to publicly pledge their commitment to achieving net-zero emissions by 2050 and to take action to support the transition to a low-carbon economy.
3. The Race to Zero Emissions: The Emissions component of the campaign focuses on reducing greenhouse gas emissions and promoting climate resilience. It includes initiatives such as the Net-Zero Asset Owner Alliance, which brings together investors with over $2.5 trillion in assets under management to accelerate the transition to a low-carbon economy, and the Renewable Energy Performance Platform, which supports countries in achieving their renewable energy targets.

The Race to Zero initiative is a global effort to accelerate the transition to a low-carbon economy and achieve net-zero emissions by 2050. It brings together businesses, cities, regions, and investors to take action and support the transition to a sustainable future.

Initiatives like the Race to Zero, are drivers that are feeling the growth of climate markets and the carbon market that provides tools for companies to reduce their emissions.

From the perspective of AAVA Climate Performance Tokens, this is the market where the project development is focused and is aimed at feeding the growing corporate net zero industry.