The World Economic Forum’s Alliance of CEO Climate Leaders, the largest CEO-led community on climate in the world, has achieved 10% aggregate emissions reductions over 2019-2022 while growing revenue by 18%. The Alliance, which Ingka Group CEO Jesper Brodin co-chairs, is dedicated to achieving net-zero emissions and includes over 130 CEOs from some of the world’s leading global businesses.
“Every fraction of a degree matters, and with the right leadership and commitment, we have it in our hands to reach net-zero by 2050”
– Jesper Brodin, CEO, Ingka Group
The 10% aggregate emissions reductions by the Alliance members are significantly ahead of the emissions reductions achieved by the world’s biggest economies, including the US (-2%) and the EU (-3%), while India and China saw growth in emissions of 6% and 7% respectively in the same period. The news also means the Alliance has been consistently ahead of these major global economies every year since 2019 in terms of driving emissions reductions. The Alliance community also recorded an aggregate growth in revenues of 18% in the same three-year period, while driving these significant reductions in both absolute emissions and emissions.
“We are in the most critical decade for climate action. The good news is that we know what actions we need to take and the Alliance progress from the last three years shows that Paris Agreement is working, when action is taken. It’s possible to reduce your climate footprint while growing the business – as we have proven in our own business with a growth of 30.9% and a 24.3% reduction in climate footprint, since 2016. Every fraction of a degree matters, and with the right leadership and commitment, we have it in our hands to reach net-zero by 2050.” says Jesper Brodin, CEO, Ingka Group.
The Alliance of CEO Climate Leaders represents a combined $4 trillion in revenue, 12 million employees and 12 industries. The progress, announced by the World Economic Forum during the annual General Assembly of the United Nations and Climate Week NYC in New York, is an important signal for governments and other businesses – demonstrating that climate-resilient growth is an achievable reality.
“These results show that businesses can take decisive leadership in global efforts to accelerate the net-zero transition. In three years since we started measurements, thanks to the concrete actions taken by members, the Alliance of CEO Climate Leaders has successfully cut 10% of its aggregate emissions – equal to the annual emissions of France – while delivering significant value with revenue increases ahead of global GDP growth. This demonstrates that climate action does not have to come at the expense of economic performance,” says Pim Valdre, Head of Climate Ambition Initiatives at the World Economic Forum.
As a multinational business operating in 31 countries Ingka Group believes that, together with partners, it can use its size and reach to play a role in accelerating climate action by influencing and working together with governments and the private sector.
In January 2024 Ingka Group announced continued progress on its own climate emissions, with a 24.3% reduction of its climate footprint in FY23 (vs. FY16 baseline). This decrease was achieved against a 30.9% increase in revenue compared to baseline year FY16.*
Why we advocate for a net zero world – To read more information on Ingka Group’s climate advocacy and policy asks, please go to the climate advocacy page on Ingka.com here: Climate change advocacy | Ingka Group
WEF News Release: Alliance of CEO Climate Leaders delivers 10% emissions reductions with revenue growth of 18% over three years
Visit here for more information on the Alliance of CEO Climate Leaders (weforum.org)
About Ingka Group
With IKEA retail operations on 31 markets, Ingka Group is the largest IKEA retailer and represents about 90% of IKEA retail sales. It is a strategic partner to develop and innovate the IKEA business and help define common IKEA strategies. Ingka Group owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. It has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Read more on www.Ingka.com.
About WEF:
The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. It was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland. It is independent, impartial and not tied to any special interests.
*Ingka Group total climate footprint (scope 1, 2 and 3) The climate footprint covers greenhouse gas emissions across Ingka Group operations (scope 1 and 2) and our upstream and downstream value chain (scope 3). The 24.3% overall reduction in our climate footprint from FY16 to FY23 was achieved against a 30.9% increase in revenue. The reduction comes primarily from implementing carbon saving measures; however, changes in our business operations and sales have also contributed.
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