Corporate sustainability coalitions and individual company commitments to decarbonizing supply chains have cropped up in recent months due in part to growing consumer pressure and recognition of the outsized role the private sector has to play in mitigating climate change.
In December, CMA CGM launched a global alternative energy coalition with the goal of accelerating progress on the maritime industry's transition to eco-friendly fuels and ship designs. And in January, Amazon, DHL, Ikea and others joined an electric vehicle alliance to expand the business case for widespread EV adoption in the transportation sector, currently responsible for roughly one-third of global carbon emissions.
Currently, members of the Transform to net-zero initiative have sustainability targets of their own. Maersk has committed to being carbon neutral by 2050, beating its emissions reductions target by nearly a decade in June. In January, Microsoft committed to being carbon negative by 2030, and Unilever has recently expanded its emissions reduction efforts into its supply base.