Ingka Group, H&M, Kingfisher and Walmart join forces in retail alliance – on the pathway towards a 1.5°C future
Ingka Group, together with H&M, Kingfisher and Walmart, is a founding member of the retail alliance, which is part of the UNFCCC Race to Zero. The Race to Zero Breakthroughs: Retail Campaign aims to drive greater climate action in the retail industry in the run up to COP26 and beyond.
Currently, only 5 percent of retail businesses (by total global industry revenues) have committed to taking action to limit global warming in accordance with the Paris Agreement. To put it simply, retail is not yet doing its part, and it has a big opportunity to make a positive impact, particularly through:
- influencing supply chains;
- contributing to creating more sustainable cities;
- making it more convenient and affordable to live with a lower climate footprint
The Race to Zero Breakthroughs: Retail Campaign encourages retailers to set science-based targets in line with 1.5°C, halve greenhouse gas (GHG) emissions by 2030 and reach net zero GHG emissions before 2050.
The only way to succeed with the transition to a net-zero society is by collaborating across industries and sectors, societies and borders - taking action together and scaling solutions, advocating for policy changes and leading by example.
“We are in the most important decade and it will require radical collaborations and actions from businesses, society and governments. At IKEA, we have committed to become climate positive by 2030 and as part of that, we’re also committed to the 1.5°C goal in the Paris Agreement. By working together across trade association partners, this movement seeks to engage the retail sector. If we work together and act with speed, focusing on what makes real impact, we can truly make a difference for people and the planet,” says Jesper Brodin, CEO, Ingka Group.
The IKEA vision is to create a better everyday life for the many people. Climate change threatens this, for people today and for generations to come. In this critical decade it is crucial that we work together to reach the Paris Agreement and limit global temperature increase to 1.5°C.
IKEA is taking action to transform its business. It has committed to the Paris Agreement and doing its part to limit the global temperature rise to 1.5°C above pre-industrial levels by becoming net-zero latest 2050 and halving GHG emissions in absolute terms from the total IKEA value chain by 2030. This will be achieved by drastically reducing GHG emissions and by removing and storing carbon from the atmosphere through better forest and agricultural management practices within the IKEA value chain.
Additionally, IKEA will go beyond its own business, aiming to reduce more GHG emissions than the IKEA value chain emits by 2030. It includes working with Ingka Centres tenants to enable them to reduce their climate footprint related to meeting customers, including operations and customer travel, as well as accelerating the adoption of science-based targets by tenants.
Everyone needs to contribute to tackling the climate crisis – policy makers, businesses and individuals all have a role to play. By working together, we have it in our hands to transition to a net zero society that is better for all, with clean air, clean water, improved health, resilient eco-systems, and a fair and equal society.
COP26 is a decisive moment for world leaders to accelerate climate action and drive positive change across economies and societies. The Race to Zero Breakthroughs: Retail Campaign is just one of the actions Ingka Group will take leading up to COP26, in order to engage all audiences to create a ripple effect to accelerate climate action with businesses, policy and decision-makers, co-workers, and the many people.
Read the full press release and call to action here and attached below too.
Read more about what it means to IKEA to become climate positive.
Read more about the United Nations Framework Convention on Climate Change (UNFCCC) Race to Zero.
The World Business Council for Sustainable Development hosts the campaign secretariat.
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Ingka Group (Ingka Holding B.V. and its controlled entities) is one of 12 different groups of companies that own and operate IKEA retail under franchise agreements with Inter IKEA Systems B.V. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Ingka Group is a strategic partner in the IKEA franchise system, operating 389 IKEA stores in 32 countries. These IKEA stores had 706 million visits during FY20 and 3.6 billion visits to IKEA.com. Ingka Group operates business under the IKEA vision - to create a better everyday life for the many people by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible can afford it.