Swedbank Robur backs CDP campaign asking big emitters to meet 1.5°C goal
Swedbank Robur is proud to join a group of 318 financial institutions and multinational firms with $37 trillion in assets and spending power in calling on over 1,000 of the world’s highest impact businesses to set emissions goals in line with the Paris agreement’s 1.5°C goal.
The 2022 CDP Science-Based Targets campaign is coordinated by the global non-profit CDP organisation.
By joining the campaign, Swedbank Robur is pressing the targeted companies to set an emissions reduction target approved through the Science Based Targets initiative the industry standard for credible climate targets that cover all of a company’s value chain emissions.
"Swedbank Robur has had a strong focus on the climate issue for many years and want to take a clear stance in issues that are important to our customers and investments. Climate action must be urgent, immediate and impactful to limit global warming. We believe in the strength of many and joint forces, which CDP's campaign is a very good example of, are an important key to pursue companies to set goals in line with the Paris Agreement", said Pia Gisgård, Head of Sustainability and Governance at Swedbank Robur.
CDP sent letters on behalf of Swedbank Robur and the other participating organizations to over 1,000 companies worldwide, including China’s largest retailer JD.com, Australian flag carrier Qantas, the world’s biggest chemicals firm BASF, as well as Caterpillar, FedEx, General Electric, Wal Mart de Mexico and Wilmar International.
The CDP campaign grew by over 30% since last year, both in terms of the number of supporting organizations and their collective assets and purchasing power. The 1,000 companies targeted are critical for global efforts to limit global warming to 1.5°C.
Laurent Babikian, Joint Global Director Capital Markets at CDP, said:
“The past few months of extreme weather have again shown us what a warming world does at 1.2 degrees. Companies must urgently set targets through the SBTi if we are to reduce emissions at the pace and scale required to avoid the most serious impacts of climate change. We are encouraged by the continued growth and success of this campaign, demonstrating that financial institutions see science-based targets as essential for all companies, and necessary for them to meet their own net-zero ambitions.”
Globally, over 3,500 companies representing over a third of global market capitalization are already part of the SBTi. Among these, over 1,200 have approved 1.5°C targets.
Contact:
Carina Sesser Nylund, Press Manager, Swedbank Robur ph. +46 72 230 52 64
Swedbank Robur is a wholly owned subsidiary to Swedbank and active in Swedbank´s four home markets. Swedbank Robur was founded in 1967 and offers more than 80 mutual funds, institutional and discretionary asset management and management of pension funds. The number of customers is 3 million in Sweden and 1 million in the Baltic countries. Total assets under management are approximately SEK 1966 billion (Dec 31, 2021). Swedbank Robur’s vision is to become a world leader in sustainable value creation.