Part (i)
Governments in the world may have signed the Paris climate agreement and pledged to limit global warming to 1.5°C, but the grades in their climate report cards are distressing to say the least.
However, there’s good news coming in from the private sector. With six in every 10 Americans believing in climate change, and climate movements rising awareness across the globe, doing business as usual is becoming bad for corporate image.
By treating the greatest threat facing humanity as an opportunity in disguise, major companies are now competing to lead the climate battle. While there’s still time to decide how successful their efforts will be, their promising targets and progress are worth sneaking a peek at.
Some of these companies have Science-Based Targets initiated by WWF, the UN Global Compact, World Resources Institute and CDP. They are set in line with the Paris Climate Agreement for a world with 1.5–2°C of warming.
IKEA : “People and Climate Positive”
“Through our size and reach we have the opportunity to inspire and enable more than one billion people to live better lives, within the limits of the planet.”
— Inter IKEA CEO Torbjorn
Targets: A science-based target to limit global warming to 1.5°C by becoming climate positive and regenerating resources by 2030.
Progress Highlights (as of FY18):
- Sourcing 100% of cotton, fish and seafood from certified, more sustainable sources.
- 70% use of renewables and recycled materials in production.
- Heavy investments in renewable energy.
- Introduced new circular design principles and services.
- Made significant steps towards phasing out single-use plastic products from the IKEA range by 2020.
