Ingka Group supports more business action on climate change
Ingka Group has given support and signed up to a new guide raising the bar on climate leadership, ’Climate Leadership Now: The new bar for business action on climate change’, published by the We Mean Business coalition*.
The We Mean Business coalition was founded in 2014 to galvanise business leadership on climate change and influence policy in the lead-up to the formation of the Paris Agreement.
The new guide details the action businesses need to take to be considered credible corporate leaders in the 2020s and outlines the case for even further action, given the severely increasing risks that the changing climate poses to the global economy.
“This is the most important decade of human kind and more and more leaders across businesses, governments and society are setting high ambitions and commitments that require that we accelerate action and scale solutions that many more can benefit from.” says Jesper Brodin, CEO, Ingka Group.
”Together we have it in our hands to design and invest in a future that leaves no one behind – that is clean, green and more just. We need to recover and reset for generations to come,” he says.
Ingka Group is committed to take climate action, contributing to the IKEA overall commitment to reducing more greenhouse gas emissions than the IKEA value chain emits, by 2030** and has been actively and virtually taking part in the UN Climate Action Summit and other high-level events like Climate Week, WEF Sustainable Development Impact Summit from 21-27 September.
For a business to be included a leader on climate, the We Mean Business coalition state it must respond to the climate crisis with Ambition, deliver on that ambition with Action and speak up to secure wider change through Advocacy.
The principles outlined in ’Climate Leadership Now’ include:
- Aligning corporate ambition with the best available climate science. This entails setting a target to reach net-zero emissions by 2050, at the latest, and setting strong interim targets along the way through the Science Based Targets initiative.
- Identifying and implementing action that will enable companies to deliver on their ambition including engaging with their supply chain. Companies need to be transparent about progress toward goals through disclosure and reporting.
- Advocating for climate action at all levels — through corporate lobbying efforts, industry peers and trade groups.
Support for the guide has been given ahead of Global Climate Action Day that will take place on 25 September 2020, where people around the world will call for urgent action to tackle the climate crisis.
Read the We Mean Business coalition press release, including quotes from Jesper Brodin and other leaders. Access the We Mean Business coalition’s latest guidance for businesses in the ’Climate Leadership Now’ guide.
*About the We Mean Business coalition
The We Mean Business coalition is a group of nonprofit organizations working with the world’s most influential businesses to take action on climate change. The global coalition brings together seven organizations: BSR, CDP, Ceres, The B Team, The Climate Group, The Prince of Wales’s Corporate Leaders Group and the World Business Council for Sustainable Development. Together we catalyze business action to drive policy ambition and accelerate the transition to a zero-carbon economy. Find out more at wemeanbusinesscoaltion.org.
**Becoming climate positive is about reducing more greenhouse gas emissions than what the IKEA value chain emits. IKEA will eliminate GHG emissions in line with Paris Agreement, store carbon in land, plants and products, go beyond IKEA – by addressing a footprint larger than the IKEA value chain, take action together – engage with others to realise a 1.5°C world. Read more about the IKEA commitment here.
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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 380 IKEA stores in 30 countries. These IKEA stores had 839 million visits during FY19 and 2.6 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.