Smart Phases with 155 companies to push for a sustainable Net-Zero COVID-19 economic recovery effort
Updated: Jun 4
19 May 2020, NEW YORK, LONDON and MONTREAL
Smart Phases Inc. (dba Novacab) amongst the first-movers to join the Science Based Targets initiative, the UN Global Compact, the We Mean Business coalition and more than 155 companies worldwide.
Smart Phases (dba Novacab), IKEA Group, JLL, Carlsberg Group, EDF, Iberdrola, Electrolux, Nestlé, Enel, Saint-Gobain, ENEL, Colgate Palmolive Company, Schneider Electric, Zurich Insurance Group, among companies urging governments to align socio-economic recovery with climate science
In largest-ever UN-backed CEO-led climate advocacy effort, major multinationals with SMEs such as Smart Phases Inc. reaffirm their own science-based commitments to achieving zero-carbon economy and call on governments to match their ambition
155 companies, including Smart Phases Inc., have signed a statement urging governments around the world to align their COVID-19 economic aid and recovery efforts with the latest climate science. The signatories span 34 sectors and have headquarters in 33 countries.
As debates on recovery packages around the world ramp up in the coming weeks, the companies, which are all part of the Science Based Targets initiative, are calling for policies that will build resilience against future shocks by supporting efforts to hold global temperature rise to within 1.5°C above pre-industrial levels, in line with reaching net-zero emissions well before 2050.
Dr Andrew Steer, President and CEO of the World Resources Institute and SBTi Board member., said:
“It is imperative that we not only restart the world economy – but also reset it. It would be a tragedy if after spending $10-20 trillion of public money we simply rebuild the same unequal, vulnerable and high carbon economy we had before. We applaud the leaders of these 155 companies, who are not only committed to resetting their own companies but are also demanding that the world’s governments act in the light of the best science and best economics which shows that climate-smart policies will create more jobs and stimulate resilient, inclusive economic growth.”
The statement comes as governments around the world are preparing trillions of dollars worth of stimulus packages to help economies recover from the impacts of the coronavirus pandemic, and as they prepare to submit enhanced national climate plans under the Paris Agreement. In the coming weeks, several major economies will take key decisions in their recovery efforts, including the European Union Recovery Plan, new stimulus packages from the United States of America and India, and the G7 Heads of State summit in June.
Smart Phases, along with the other collaborating companies, has already committed to set, science-based emissions reduction targets.
"As business leaders, our own decisions and actions remain grounded in science, while calling on governments to “prioritize a faster and fairer transition from a grey to a green economy. Technologies, decisions and spending that incorporates green solutions and climate targets will reduce vulnerability to future shocks and disasters, create good jobs, reduce energy consumption and emissions while ensuring clean air and water.”
Ignacio Galán, Chairman & CEO, Iberdrola, said:
“The world must be united to tackle the current health crisis. And, as we emerge from this crisis, we must focus economic recovery on activities aligned with key priorities, such as the fight against climate change, and reactivating economic activity and employment quickly and sustainably. Companies like ours remain committed to investing billions in clean energy, creating jobs and long-term economic and environmental benefits. Pursuing environmental sustainability will be essential for long-term economic recovery.”
Mark Schneider, CEO, Nestlé said:
“Let’s work together to create a more sustainable and resilient world. We will play our part and are committed to net-zero greenhouse gas emissions by 2050.”
The business voices are convened by the Science Based Targets initiative (SBTi) and its Business Ambition for 1.5°C campaign partners, the UN Global Compact and the We Mean Business coalition. The SBTi, which is a collaboration between CDP, the UN Global Compact, World Resources Institute and WWF, independently assesses and validates corporate climate targets against the latest climate science. Smart Phases is already part of this since last year.
Michael L. Carty, President and CEO of Smart Phases Inc. (dba Novacab) said:
“We are proud to join Uniting Business and Governments to Recover Better as part of the Science-Based Targets initiative (SBTi). Smart Phases is leading the way in low-carbon hybrid energy storage technologies. From our operations to our products and solutions we are committed to enabling sustainable energy solutions. In the face of the COVID-19 crisis, with academia, scientists and industry, we have moved to look for a solution at an incredible pace. In the new normal that's coming, we'll have to apply the same sense of urgency to other pressing threats, such as climate change”
Lila Karbassi, Chief of Programmes at the UN Global Compact, and Science-Based Targets initiative Board Member said:
“Governments have a critical role to play by aligning policies and recovery plans with the latest climate science, but they cannot drive a systemic socio-economic transformation alone. To address the interconnected crises we face, we must work together as an international community to deliver on the Sustainable Development Goals and the Paris Agreement. As the largest ever UN-backed CEO-led climate advocacy effort, these companies are leading the way in driving ambitious science-based action and advocacy to help reduce vulnerability to future shocks and disasters.”
Maria Mendiluce, CEO of the We Mean Business coalition, said:
“Governments can be reassured that businesses are implementing science-based targets to get us on a 1.5°C trajectory. They are calling for recovery policies that will boost the economy and build resilience. A net zero aligned recovery will enable companies to invest and innovate at the pace and scale necessary to build back better, creating decent jobs, protecting health, reducing emissions and increasing resilience in the future.”
As a conclusion, UN Secretary-General António Guterres said:
“Saving lives and livelihoods, and building a prosperous, inclusive and sustainable future, are at the heart of our efforts to recover from COVID-19. We can beat the virus, address climate change and create new jobs through actions that move us from the grey to green economy. Many companies are showing us that it is indeed possible and profitable, to adopt sustainable, emission-reducing plans even during difficult times like this. I warmly welcome the ambitious, science-based actions we are seeing from leading companies who are demonstrating to policy-makers that green growth remains the best growth strategy.”