Since global warming and pollution are becoming increasingly pressing topics, the world's major companies have decided to take measures.
The initiative through which companies can help the environment is called Transform to Net Zero. All efforts are compliant with the voluntary Paris Climate Accord's requests; whose goal is to keep the average temperature rise to a maximum of 2 degrees Celsius. The ideal limit is 1.5 degrees.
The first American company to pave the way for the rest was Microsoft. At the beginning of the year, the tech giant announced plans to have zero carbon emissions by 2030. Also, by 2050 the company is confident that it could erase the emitted carbon since 1975 when it launched.
To the movement joined Unilever, Starbucks, and Nike who pledge to hit zero emissions by 2050. Unilever alone put on the line more than $1 billion for a climate and nature fund and foe reducing the use of virgin plastic by half by 2025.
Amazon set a goal to meet the Climate Agreement ten years earlier than the estimated 2050.
The latest participant in this initiative is Apple. It announced yesterday that it could reduce emissions for its supply chain and in the iPhone production in less than ten years. The company's latest environmental report revealed that its carbon footprint is at 25.2 million tons per year. To meet its goal, the company will plant trees and restore habitats, accounting for 25% of its aim. The rest will be by reducing emissions.
Moreover, the companies act voluntarily after the Trump administration removed the United States from the Paris Agreement.
The market applauded the initiative, and in pre-market trading, Microsoft's stock price gained 0.29%, and Amazon added 0.02%. Starbucks closed 0.64% higher, while Nike gained more than 2.80%.
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Sources: marketwatch.com, finance.yahoo.com
