Cummins has joined the Business Ambition for 1.5°C campaign and the United Nations’ Race to Zero campaign which aims to advocate for support from businesses, investors, cities and regions for climate action.
Cummins says it worked with the Science Based Targets initiative (SBTi) in developing the company’s Planet 2050 environmental strategy released in 2019. The strategy includes 2030 goals aligned to targets established in the Paris Climate Accords, and the aspiration to reach net zero emissions by 2050.
Cummins chairman and CEO Tom Linebarger says: “Climate change is the existential crisis of our time and the biggest threat to our mission as an organisation.
“We want to dedicate our innovation, our talent, our resources, and our investments to reduce our impact on the climate. Of course, we have a lot of other challenges to address at the same time to fulfill the needs of our stakeholders, but if we don’t address climate change, there will be nothing else to do.”
Planet 2050 includes two approved science-based targets. One is to reduce absolute GHG emissions from Cummins’ facilities and operations (scopes 1 and 2) by 50 per cent, which is consistent with keeping global warming to 1.5°C above pre-industrial levels. The second is an absolute lifetime reduction in the company’s scope 3 GHG emissions from newly sold products by 25 per cent. Scope 3 emissions include emissions from a product in use by a customer.
Cummins aims to develop commercial low- and no-carbon power technologies such as battery and fuel cell electric.
Since launching two years ago, more than 650 companies from around the world have joined the Business Ambition for 1.5°C with a combined market capitalization of $13trillion. Other members of the group include Apple, General Motors, Johnson & Johnson, and Volvo.
The Race to Zero campaign has built a coalition of more than 3,000 businesses, more than 700 cities, more than 600 institutions of higher education and more than 150 investors supporting net-zero initiatives around the world.