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Major Companies Take Action for a 1.5°C Future at UN Climate Action Summit

Eighty-seven major companies -- with a combined market capitalization of over $2.3 trillion and annual direct emissions equivalent to 73 coal-fired power plants -- are taking action to align their businesses with what scientists say is needed to limit the worst impacts of climate change.

Responding to a call-to-action issued in June by a group of business, civil society and UN leaders, the companies collectively represent over 4.2 million employees from 28 sectors and are headquartered in 27 countries. They have committed to set climate targets across their

operations and value chains aligned with limiting global temperature rise to 1.5°C (2.7º F) above pre-industrial levels and reaching net-zero emissions by no later than 2050.



Since the first 28 companies were announced in July, the number has more than tripled. The latest cohort of companies include ADEC Innovations; AmÉrica MÓvil; ASICS Corporation; Atlassian Corporation; Bharti Airtel Limited; Burberry; City Developments Limited; The Co-operative Group; Croda International; Cybercom Group; Danone; Deutsche Telekom; Dexus; EDP - Energias de Portugal; Electrolux; Elopak; En+ Group; Ericsson Group; Firmenich; Glovo; Grupo Malwee; Guess; Ingka Group; Inter IKEA Group; International Flavors & Fragrances; Intuit; Klabin; L'OrÉal; MARUI GROUP; NestlÉ; Nokia; Novo Nordisk; NRG Energy; Orange Group; Ørsted; PensionDanmark; Reliance Jio Infocomm Limited; Saint-Gobain; Salesforce.com; Scania; Schneider Electric; Seventh Generation; SkyPower; Sodexo; SUEZ; Swiss Reinsurance; TDC; ViÑa Concha y Toro; and Wipro, among others.



The news comes as world leaders gather in New York City for the Climate Action Summit, taking place today at the start of Climate Week NYC, which runs from September 23-29. The Summit provides an opportunity for governments, businesses and other atakeholders to present clear plans of action aligned with the recent report by the Intergovernmental Panel on Climate Change (IPCC) which warned of catastrophic consequences should global warming exceed 1.5°C.

The companies are committed to setting science-based targets through the Science Based Targets initiative (SBTi) - which independently assesses corporate emissions reduction targets in line with what climate scientists say is needed to meet the goals of the Paris Agreement.



"Warming beyond 1.5°C is a calamity we simply must not risk," said Andrew Steer, SBTi Board Member and President and CEO of World Resources Institute. "Science-based targets provide a blueprint for companies to make a clear contribution to meeting the goals of the

Paris Agreement, but we need all hands on deck. There is not a minute to lose."



Of the 87 companies, the following already have verified 1.5°C-aligned reduction targets covering greenhouse gas emissions from their operations: AstraZeneca, BT, Burberry Limited, Deutsche Telekom AG, Dexus, Elopak, Hewlett Packard Enterprise, Intuit, Levi Strauss & Co., SAP, Schneider Electric, Signify, Sodexo, The Co-operative Group and Unilever.

All campaign signatories have taken this ambition a step further by extending their commitments to apply to their entire value chains, which on average account for 5.5 times

higher emissions than operations.