Sustainability 8 December 2020
Ingka Group recognised with prestigious ‘A’ score for climate change
Ingka Group has been recognised for leadership in corporate sustainability by global environmental non-profit CDP, securing a place on its prestigious ‘A List’. Being on the CDP A list is a recognition of Ingka Group’s efforts to tackle climate change and signals that the company is taking the steps regarded as best practice when it comes to corporate climate action.
Ingka Group was recognised for its actions to cut emissions, mitigate climate risks and develop the low-carbon economy, based on the data reported by the company through CDP’s 2020 climate change questionnaire. Ingka Group is one of a small number of high-performing companies out of 5,800+ that were scored.
“We have high ambitions when it comes to tackling climate change throughout our business and getting on the CDP A List proves that we’re on the right track. By working towards our science-based targets, we contribute to the ambitions of the Paris Agreement and to the overall IKEA commitment to become climate positive by 2030. We have a big responsibility – and many opportunities – to make a positive difference for people and the planet,” says Jesper Brodin, CEO of Ingka Group.
The IKEA vision is to create a better everyday life for the many people. Climate change threatens this, for people today and generations to come. We must act now, and some of the actions Ingka Group has taken include:
- Investments of over EUR 2.5 billion over the past decade in wind and solar power.
- Switching to 100% renewable energy in our operations, while increasing energy efficiency.
- Targeting 100% zero-emissions home deliveries in all Ingka Group countries by 2025;
- Inspiring and enabling customers to make more climate friendly choices in their daily lives, by e.g. offering efficient LEDs, plant-based food options, and running campaigns to create awareness about how people can make more climate friendly choices in their daily lives.
- Offering products and services which enable customers to consume and generate renewable energy at home;
- We will become a circular business and sell products that can be reused, refurbished, remanufactured and recycled – prolonging their life and generating as little waste as possible. One example of this is the buyback services offered in many of our stores.
In the past years, Ingka Group took several steps towards further integrating climate in all aspects of the business. For example, the company carried out a climate scenario analysis in line with the Taskforce on Climate-related Financial Disclosure (TCFD) framework and included key findings from the process in its FY19 Annual Summary & Sustainability Report, in line with TCFD recommendations. From 1 September 2019, all Country Retail Managers are also the Chief Sustainability Officers for their countries, accountable for delivering sustainability goals at the national level and for putting sustainability at the heart of the business.
”We have made bold commitments to reduce emissions across our value chain, with science-based targets covering both our direct and indirect emissions. Making progress against them requires the whole business to consciously integrate climate in critical business decisions. Through working with climate risk assessment, we can mitigate climate-related risks and capture decarbonization opportunities to secure that we thrive as a business in net-zero economy”, says Karol Gobczyński, Head of Climate & Energy, Ingka Group.
Ingka Group also reports on its progress meeting set climate targets in the Annual Summary & Sustainability Report. The FY20 report will be out at the end of January.
CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who have disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Visit https://cdp.net/en or follow them @CDP to find out more.
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