Ingka Group secures prestigious ‘A’ score for transparency on climate change
Ingka Group has continued to be recognised for leadership in corporate sustainability by the global environmental non-profit CDP, by securing an ‘A’ score for transparency on tackling climate change. With nearly 15,000 businesses assessed, the annual CDP A list shows continued recognition of Ingka Group’s efforts to meet its climate commitments and endorses that the company is leading the way in taking steps when it comes to its climate action. Ingka Group first secured an ‘A’ score in 2020.
CDP’s annual environmental disclosure and scoring process is widely recognised as the gold standard of corporate environmental transparency. A detailed and independent methodology is used by CDP to assess companies, allocating a score of A to F based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
“We are delighted to be recognised on the CDP A list, as it illustrates the efforts across the business to increase climate action and transparency. We have made bold commitments to reduce emissions across our value chain, with science-based targets covering both our direct and indirect emissions. Making progress against them requires the whole business to consciously integrate climate in critical business decisions and reporting on these enable us to improve the way we work with climate action. Getting on the CDP A List once again proves that we’re on the right track.” says Karen Pflug, Chief Sustainability Officer, Ingka Group
IKEA and Ingka Group are committed to the Paris Agreement and to contribute to limiting the global temperature rise to 1.5°C above pre-industrial levels. IKEA has science-based targets and the ambition to become climate positive by 2030* by reducing more greenhouse gas emissions than the total IKEA value chain emits. By working towards science-based targets Ingka Group contributes to the ambitions of the Paris Agreement and to the overall IKEA commitment to become climate positive. IKEA is in the process of updating its targets in alignment with the latest SBTi Net Zero Standard.
“CDP saw nearly 20,000 companies disclose environmental data this year, including 70% of European companies by market value. COP27 showed the need for transformational change is more critical than ever if we are to limit warming to 1.5 °C. I’m therefore delighted that European companies make up nearly half of all A List companies around the world. We must cut emissions by half and eliminate deforestation by 2030, alongside achieving water security on the same timescale – there is no route to 1.5°C without nature.
With the EU’s ground-breaking new reporting regulation, the CSRD, now agreed, CDP A List companies are showing they are ahead of the game – taking clear action to reduce emissions and to address environmental impacts throughout their value chains. This is the type of environmental transparency and action we need economy-wide to prevent ecological collapse,” Maxfield Weiss, Executive Director, CDP Europe.
“Governments, business, and every part of society has an essential role to play in delivering 1.5°C but it’s crucial more businesses set science-based targets in line with the Paris Agreement and develop a clear roadmap and mechanisms on how to get there, while transparently reporting on progress. We all need to collaborate to create internationally harmonized standards. To finance the transition, it is vital that actors across sectors collaborate on comprehensive global standards on measuring and reporting,” says Karol Gobczyński, Climate & Energy Leader, Ingka Group.
Ingka Group has taken steps towards further integrating climate in all aspects of the business, including integrating climate-related matters into its governance structure. In 2019 the company carried out a climate scenario analysis in line with the Taskforce on Climate-related Financial Disclosure (TCFD) framework and now assesses climate related risks and net-zero opportunities, in line with the methodology developed by the Taskforce on Climate related Financial Disclosure.
As part of the People and Planet Positive strategy Ingka Group is actively working to increase sustainability performance and transparency. Read more about Ingka Group’s sustainability performance and commitments in the Annual & Sustainability Summary report – Reporting | Ingka Group.
The full list of companies that made this year’s CDP A List is available here: https://www.cdp.net/en/companies/companies-scores ‘
About CDP
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 680 financial institutions with over $130 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Nearly 20,000 organizations around the world disclosed data through CDP in 2022, including more than 18,700 companies’ worth half of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. Visit cdp.net or follow us @CDP to find out more.
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