WEF_Net_Zero_Challenge_The_Supply_Chain_Opportunity_2021.pdf

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In collaboration with
Boston Consulting Group
Net-Zero Challenge:
The supply chain opportunity
INSIGHT REPORT
JANUARY 2021
Cover:
Illustration by Janne Livonen
Images:
Getty Images (pages 2–5, 8–37) and Unsplash (page 7)
Contents
Preface: Why we need a ‘next level’ of climate action
Executive summary
1
A game changer for global climate action
2
The ‘big eight’
3
Encouraging economics
4
Overcoming barriers
5
Decarbonizing supply chains: a corporate guide
5.1
Create transparency
5.2
Optimize for CO
2
5.3
Engage suppliers
5.4
Push ecosystems
5.5
Enable your organization
6
Time to move
Appendix: Details per supply chain
Methodology
Contributors
Acknowledgements
Endnotes
4
6
8
11
16
22
26
27
29
30
33
35
36
38
40
41
42
43
© 2021 World Economic Forum. All rights
reserved. No part of this publication may
be reproduced or transmitted in any form
or by any means, including photocopying
and recording, or by any information
storage and retrieval system.
Net-Zero Challenge: The supply chain opportunity
3
January 2021
Net-Zero Challenge:
The supply chain opportunity
Preface: Why we
need a ‘next level’
of climate action
Nigel Topping
United Nations Framework
Convention on Climate
Change (UNFCCC) High-
Level Champion
Five years after the adoption of the Paris
Agreement, COVID-19 has reshaped the world
and brought us to a crossroads. The health,
social and economic consequences of this global
pandemic on top of the increasingly urgent
climate crisis have taken us to an inflection point.
How we choose to respond to these crises will
determine the pathway to our net-zero future. To
succeed, the twin challenges of COVID-19 and
climate change must be addressed together,
with zero-carbon solutions ready to accelerate
our recovery to a healthier, more resilient future.
In 2020, we saw a temporary drop in emissions
as a result of COVID-19, at around 5–10%
compared to 2019 – the largest since the Second
World War. But to get on a long-term path to
limit warming to 1.5°C, we need a structural
transformation that achieves global emission
reductions of this scale every year, not through
crisis, but through a well-managed transition
that protects livelihoods and builds a resilient,
healthy, prosperous zero-carbon economy.
A chance to ‘green the recovery’
The COVID-induced economic crisis gives the world
a generation-defining window to bend the emissions
curve and “build back better”, creating decent zero-
carbon jobs, driving innovation and growth, and
strengthening resilience to systemic shocks. Failure
to do so will result in stranded assets, dislocation
and widening inequalities. Now is the time for
governments to capitalize on the unique opportunity
for stimulus packages to tackle COVID-19
recovery and climate change simultaneously.
The run-up to COP26, the 2021 United Nations
Climate Change Conference, gives reason for
renewed optimism. The UK and EU are both
committed to achieving net-zero by 2050,
1
South
Korea and Japan have recently committed to
setting net-zero by 2050 targets, and China – the
world’s largest emitter – has committed to achieving
4
Net-Zero Challenge:
The supply chain opportunity
Gonzalo Munoz
United Nations Framework
Convention on Climate
Change (UNFCCC) High-
Level Champion
net-zero emissions no later than 2060.
2
If the US
were to deliver on President Biden’s campaign
promises, almost 75% of global GDP could have
net-zero targets by early 2021.
3
Commitments by
non-state actors are up as well. The number of
net-zero pledges by subnational and corporate
actors has roughly doubled in less than a year,
4
with
more than 2,500 cities, states, regions, companies
and investors now committed to credible targets to
reach net-zero by 2050 at the latest.
5
The trend of
investors supporting decarbonization has also held
up, as the volume of green and sustainable bond
issuance grew by another ~10% in 2020.
6
Commitment to climate action is growing fast in all
sectors of society. Now is the time to accelerate
action and implementation.
Decarbonizing supply chains: the next level of corporate action
Last year’s report on the Net-Zero Challenge
7
highlighted how much more individual actors
– governments, corporations, investors and
individuals – could do to bring down emissions, and
many have heeded that call. This edition now puts a
spotlight on a critical factor in achieving the targets
they have set – decarbonizing supply chains.
Supply-chain decarbonization will be a “game
changer” for the impact of corporate climate action.
Addressing Scope 3 emissions is fundamental
for companies to realize credible climate change
commitments. It enables companies in customer-
facing sectors to use their influence in supply
chains to speed and support rapid decarbonization
throughout the economy, and it can put pressure on
suppliers in regions where governments do not (yet)
do so. As 90% of the world’s businesses are small
and medium enterprises (SMEs), working with supply
chains and connecting them with the appropriate
tools – such as the recently launched SME Climate
Hub
8
– is a vital part of the implementation of
ambitious corporate climate action.
We call on all to act and join the Race to Zero, and
hope that this report helps to provide guidance on
how to move quickly on delivering on those goals.
Climate change is the single greatest threat there has ever been to
our planet and livelihoods. The World Economic Forum is dedicated
to advancing action to decarbonize our economy and ensure a
stable transition to a net-zero world.
At our Annual Meeting in January 2020, I invited all members to set
a target to achieve net-zero greenhouse gas emissions by 2050 or
sooner. This is our Net-Zero Challenge, spearheaded by our flagship
climate action community, the Alliance of CEO Climate Leaders.
This report, co-authored with Boston Consulting Group, is the
second in our series for the Net-Zero Challenge. It showcases the
opportunity that all companies have for huge climate impact through
action to decarbonize global supply chains.
Klaus Schwab, Founder and Executive Chairman, World Economic Forum
Net-Zero Challenge:
The supply chain opportunity
5

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