A new United Nations report on Climate Change published on 26th October, reports that, although countries are bending the curve of global greenhouse gas emissions downward, these efforts remain insufficient to limit global temperature rise to 1.5 degrees Celsius by the end of the century. The current food and energy crisis and its global impact is also a stark reminder of the fragile nature of the current energy and food system, which are still dominated by fossil fuels.
Ahead of COP27, the United Nations Climate Change Conference, the Alliance of World Economic Forum (WEF) CEO Climate Leaders, including Ingka Group CEO, Jesper Brodin, are ready to work side-by-side with governments to deliver bold climate action and believe at COP27 there is a chance to make this a historic turning point towards a cleaner, more affordable, and secure energy and food system accelerating the just transition towards net zero.
In an open letter published and distributed on November 4th, the Alliance has called on peers in the private sector to set science-based targets in line with the Paris Agreement, with a clear roadmap that takes sector-specific pathways into account − Collaborating within and across sectors and value chains to drive transparency, advocacy and action in alliances and initiatives while working with major industry and trade associations to advance alignment with the Paris Agreement − Contributing to the development of internationally harmonized reporting standards.
In this context and with world leaders meeting at COP27 and the G20 in November, the letter also calls on governments to set bold ambitions and follow through on commitments and deliver on the promise in the COP26 Glasgow Climate Pact. In addition, it asks to accelerate the green transition, for example by simplifying regulations, speeding up permitting processes and provide incentives including policies for emerging renewable energy and energy efficiency technologies on both the supply and the demand side.
The Alliance of CEO Climate Leaders is a community representing over 120 global CEOs in 26 countries and 12 industries, all committed to delivering corporate climate action in line with the Paris Agreement. The Alliance aims to reduce one gigaton of emissions – equivalent to the size of Japan’s annual emission output and is the only CEO-led community in the world aiming to drive change spanning the entire supply chain.
”The latest United Nations climate report was clear; more governments need to set new goals and make deeper cuts to limit temperature rises to 1.5C. In Glasgow at COP26, there was positive movement which we applaud, but it’s not yet enough”, says Jesper Brodin, CEO, Ingka Group and co-chair of the WEF CEO Climate Leaders Alliance.
“We need to come together and collaborate to do more. Ambitious goals, policies and investments in line with the Paris Agreement will accelerate action to reach net zero. This is the most important decade and we have it in our hands to change the course of climate change,” he says.
The 2022 United Nations Climate Change Conference, more commonly referred to as COP27, will be held from 6 to 18 November 2022 in Sharm El Sheikh, Egypt. At COP27 climate action will be in the spotlight. It will have considerable attention and bring together the influential leaders in climate action from business, governments, and the climate community.
As a multinational 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 become climate positive by 2030*, through reducing more greenhouse gas emissions than the total IKEA value chain emits, while growing the business and a commitment to reach net-zero by 2050 at the latest.
IKEA believes that, together with partners, it can use its size and reach to play a role in accelerating climate action by influence and working together with governments and the private sector. As the largest IKEA retailer, Ingka Group through CEO Jesper Brodin, will be attending COP27 and taking part in several engagements and bilateral meetings during the conference, including a High-Level Roundtable on just transition with 20 Heads of State and other highest-level stakeholders, World Economic Forum (WEF) CEO Young Leader Dialogue on credible climate action, WEF plenary session moving from pledges to action, and a panel on driving action in the built environment.
WEF CEO Alliance Members will be in person in Egypt during COP27 to discuss with world leaders, government officials and representatives of the NGO community how, together they can take positive action in tackling the climate crisis.
Read the open letter here on the WEF Forum
Read more about the WEF CEO Alliance here
Read more about Ingka Group’s climate advocacy here Climate Change advocacy | Ingka Group.
*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 (greenhouse gas) 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. Read more about the IKEA commitment here.
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.