Investor AB sharpens climate targets and joins “Race to Zero”

Investor sharpens its climate targets further and joins the UNFCCC’s Race to Zero campaign ahead of COP26 through the Exponential Roadmap Initiative. The corporate sector plays a major role in supporting the transition to a sustainable low-carbon economy and fighting the accelerating climate change. Investor’s new targets are aligned with limiting global warming to 1.5 degrees above pre-industrial levels.

“Today we are announcing new and updated targets, as high ambitions and decisive actions will be necessary to reach a sustainable and low-carbon economy. Accelerating the work to address climate change is important for the long-term competitiveness of our companies and ultimately to create long-term value”, says Johan Forssell, CEO and President of Investor.

The Board of Directors has decided that Investor commits to:

• Reach net zero emissions as a company by 2030

• Reduce emissions by 70 percent by 2030 for the aggregated portfolio of companies (baseline 2016)

• The ambition to reach net zero emissions across the value chain by 2050 at the latest

• Encourage all portfolio companies to align with the Paris Agreement and when relevant, to commit to Science Based Targets

• Encourage all portfolio companies to report climate related risks and opportunities in accordance with the Task Force on Climate Related Financial Disclosure (TCFD) framework

Investor’s previous climate targets included reducing its emissions, as a company and from a portfolio perspective, by 50 percent by 2030 with 2016 as the base year. Since 2016, Investor has reduced its scope 1 and scope 2 emissions by 26 percent, while at the same time, the portfolio companies’ emissions have been reduced by 40 percent.

About Exponential Roadmap Initiative and UNFCCC Race to Zero
The Exponential Roadmap Initiative is for innovators, transformers and disruptors taking action in line with 1.5°C, with the mission to halve emissions before 2030 through exponential climate action and solutions. It brings together leading businesses committed to halving emissions before 2030 towards net-zero, integrating climate in business strategy and influencing climate action in society, as described by the 4 pillars of the 1.5°C Business Playbook.

The Exponential Roadmap Initiative is an entry point for businesses to join the United Nations’ Race to Zero campaign which rallies non state actors to take immediate action to halve global emissions by 2030 and deliver a healthier, fairer zero carbon world in time. All members are committed to the same overarching goal: reducing emissions across all scopes swiftly and fairly in line with the Paris Agreement, with transparent action plans and robust near-term targets.

About Investor’s approach to sustainability and targets
Read more about Investor’s sustainability approach including focus areas – Business Ethics & Governance, Climate & Resource efficiency, and Diversity & Inclusion - targets and outcome as well as CDP and TCFD Climate report at Investor - Sustainability (investorab.com)

The new net zero target by 2030 includes Investor’s scope 1 and scope 2 emissions. The new target for the aggregated portfolio by 2030 includes the portfolio companies’ aggregated scope 1 and scope 2 emissions which represents 99.97 percent of Investor’s scope 3 emissions. The new net zero ambition across the value chain by 2050 includes Investor’s scope 1, scope 2 and other scope 3 emissions and the portfolio companies’ aggregated scope 1 and scope 2 emissions.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability, 
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations, 
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.