Annual Report 2021


In the first 7 years of the WMB Coalition we have focused on raising corporate ambition. While this will remain important, our priority in the years ahead is helping businesses move from ambition to action. This means guiding businesses on how to transform value chains over the next decade.

To help companies move beyond the low hanging fruit of climate action, we mobilize key initiatives that have the potential to deliver transformation at the system level. The systems we’re prioritizing are energy, transport, the built environment, industry, and land. In 2022 we will establish a sixth system on finance and expand our portfolio.

Our systems transformation work allows us to apply an understanding of the business context and identify how best to aggregate business to initiate or accelerate specific interventions to transform each system. We look specifically at what initiatives already have momentum. We then share insights with partners and funders to align efforts and fund the right projects on the ground.
To gauge initiatives’ issues, leadership, and potential we normally ask three questions:

  • Emissions – What is the emissions reduction potential?
  • Leadership – What action is already taking place, and is it working?
  • Value-add – What gap is WMBC uniquely positioned to target?

We then focus our Coalition’s resources and capabilities on that space.

We also use our ability as a regranter to align initiatives to our goals. We put out a call for proposals to our Coalition partners and work with them to refine their proposals to meet the agreed strategy for each of our systems. We work with them consistently so that they stay on track. Finally, we connect grantees to other partners who might have capabilities that they don’t have but the initiative needs.

Our work with Climate Group and Responsible Steel on SteelZero demonstrates how we use our expertise, collaborative power, and research-based insights to influence change.

At present, steel is one of the largest emitters of CO2. SteelZero is a global initiative that brings together leading organizations in the sector globally to speed up the transition to net-zero. Organizations that join SteelZero make a public commitment to procure 100% net-zero steel by 2050. Harnessing this group of organizations and their collective purchasing power, we are sending a strong demand signal to shift global markets and policies towards responsible production and sourcing of steel.

For example, various reports published in 2020 argued that producing zero carbon steel would only be possible by 2040. Seeing the signals of change, one company was prompted to construct the first zero carbon steel mill, 20 years before anyone expected. Showing that this was possible made more and more customers ask for the product and other steel manufacturers began planning in earnest how they could meet this burgeoning demand.

In response to this momentum, WMBC worked with SteelZero and the First Movers Coalition to encourage companies to create specific commitments to increase the number of zero carbon steel plants under construction. This created a groundswell around the possibility of zero-carbon steel, an alignment within the market and a paradigm shift across the sector. Our partner, Mission Possible Partnership, is now very well placed to catalyze the supply side to action and we can help build out the infrastructure of the future, together.

RE100 with Climate Group and CDP

This year RE100 crossed the 300-member mark, now reaching over 350 companies, including a surge of new members in the Asia Pacific region. RE100 companies, committed to going 100% renewable, now have greater annual electricity demand than the UK.

EV100 with Climate Group

Climate Group’s EV100 initiative involves businesses committed to driving the transition to electric vehicles (EV). This year, EV100 nears its target of 5.5 million vehicles, with 4 million already committed. Additionally, 1,525 new charging locations are committed to being installed, bringing the total to over 9,400 locations globally.

Our 2030 outcomes and focus in systems

Rapid transition to net-zero by 2050 at the latest is essential across these systems. Our 2030 outcomes and themes for each system:


42% GHG reduction by 2030 (compared to 2021).

+ Renewable electricity deployment
+ Increase electricity system flexibility
+ Electrify end-uses
+ Rapid fossil fuel phase out


30% GHG reduction by 2030 (compared to 2019).

+ Electric road transport across all vehicles classes
+ EV charging infrastructure deployment
+ Tracking and reducing global logistics industry emissions


Halve whole lifecycle emissions by 2030 (compared to 2020)

+ Net zero emissions from buildings operations
+ Reducing embodied carbon
+ Adoption of Whole Life Carbon approach for emissions accounting
+ Implementing progressive policies and building codes


Steel, cement and chemicals sectors aligned with MPP sector transition strategies by 2030

+ Accelerate supply of and demand for net zero carbon steel and concrete
+ Government roadmaps, enabling policies and regulatory action for decarbonization of key industrial sectors


Forestry and other land use emissions are net zero by 2030

+ Increase investment in nature for climate
+ Accelerate regenerative food systems
+ Eliminate deforestation from value chains


Matched 100 green investment opportunities with capital providers

+ Matchmaking mechanism
+ Useful and implementable reporting standards
+ Improve quality of corporate climate reporting
+ Improve capital providers’ analyses abilities