Ahead of the pivotal G20 and COP26 summits and following the UN’s ‘code red for humanity’ warning, over 600 businesses from across the globe are calling on G20 leaders to go all in to limit global temperature rise to 1.5ºC.
As a key part of delivering success at COP26, the We Mean Business Coalition urges leading businesses to call for increased climate ambition at the 2021 G20 Summit through a Business Sign-On Letter to G20 leaders. The letter emphasises that higher policy ambitions are needed from G20 leaders to accelerate action together and has already been signed by more than 200 businesses, including IKEA.
The letter calls on G20 leaders to go all in to keep the Paris Agreement’s 1.5°C goal within reach by raising their national climate commitments and taking specific policy action including phasing out coal-fired power generation, removing fossil fuel subsidies and delivering on the USD 100 billion finance commitment to developing countries.
“We have it in our hands to limit the global temperature rise to 1.5°C and we urge G20 leaders to strengthen their national climate commitments and policy measures to accelerate the transition to a net-zero future. IKEA is taking action to become climate positive by 2030*, reducing more greenhouse gas emissions than the total value chain emits, while growing the business. By working together, across business, government and society, we can build stronger, just, and more resilient economies,” says Jesper Brodin, CEO Ingka Group (IKEA).
To limit the global temperature rise to 1.5°C is still in reach. IKEA is committed to contribute to limiting the global temperature rise to 1.5°C – halving the greenhouse gas emissions in absolute terms from the total IKEA value chain by 2030* and becoming net-zero latest 2050. In the letter businesses ask G20 leaders to strengthen Nationally Determined Contributions in line with at least halving global emissions by 2030 and setting the right policy measures.
*IKEA climate positive means to reduce more greenhouse gas (GHG) emissions than the IKEA value chain emits by 2030, while growing the IKEA business. IKEA is committed to the Paris Agreement and to contribute to limiting the global temperature rise to 1.5°C above pre-industrial levels. This includes a commitment to halve the absolute net GHG emissions from the total IKEA value chain by 2030. We will achieve this by drastically reducing GHG emissions through science-based targets and by removing carbon from the atmosphere through natural processes and storing it in land, plants and products through better forest and agriculture management within the IKEA value chain. We will contribute to further greenhouse emission reductions in society by going beyond IKEA, such as enabling customers to generate renewable energy at home.