These CEOs have a message on climate for global leaders (via World Economic Forum)
Over 100 CEOs and Senior Executives from the Alliance of CEO Climate Leaders have shared an open letter to world leaders ahead of COP28.
The Alliance of CEO Climate Leaders represents $4 trillion in revenues and 12 million employees.
“I believe the Alliance has shifted its objectives over the last five years, and it used to be about commitment, understanding and committing to Paris. Now, it’s really about actions. It’s about rolling up sleeves and sharing dilemmas. But also solutions, with each other.”
Jesper Brodin
CEO, Ingka Group (IKEA)
Abstract:
The global goal of limiting the average temperature increase to 1.5°C is in jeopardy unless there's a significant boost in collaboration and action between public and private sectors to hasten emission reductions. The alliance members have set individual targets to reduce emissions by an estimated 1.0 Gt CO2e by 2030. However, achieving this is contingent on government support to address challenges such as complex regulatory processes, inadequate grid infrastructure, technological constraints, and inconsistent reporting standards. The alliance's recommendations to policymakers include:
Increase investment in renewable energy — governments should enhance renewable energy investments, develop grid infrastructure, and phase out fossil fuel subsidies. They should also simplify permitting processes for renewable energy projects.
Adopt sustainable public procurement practices — governments can leverage public procurement, a significant portion of GDP, to influence emission reductions.
Boost investments in carbon removal — while mitigation remains paramount, there's a need to accelerate investments in technology and nature-based carbon removal. Governments should set appropriate targets and foster corporate investments in this area.
Streamline climate disclosure standards — the alliance emphasises the need for harmonised disclosure and measuring standards for global companies to provide transparent information efficiently.
The alliance also urges business leaders to set science-based targets, disclose emission data, and increase investments in energy efficiency and carbon reduction. The private sector's collective action can contribute significantly to global climate goals, potentially creating 51 million jobs by 2030. The Alliance of CEO Climate Leaders believes these policy changes can dramatically impact and plans to present them at COP28 and beyond. The post concludes with a list of 108 CEO signatories from various global companies.
You can read the open letter here.
Overview of industries represented by the signatories:
Shipping and logistics: e.g., A.P. Moller-Maersk, Deutsche Post DHL Group
Technology and electrification: e.g., ABB, Dell Technologies, Microsoft, Sony Group Corporation
Professional services and consulting: e.g., Accenture, Bain & Company, Deloitte, McKinsey & Company, PwC
Household appliances: e.g., Arçelik
Design and engineering: e.g., Arup
Pharmaceuticals and biotechnology: e.g., AstraZeneca, Takeda Pharmaceutical Company
Software and digital solutions: e.g., AVEVA, SAP SE, Salesforce
Insurance and financial services: e.g., AXA, Banco Santander, BBVA, ING, Standard Chartered Bank
Chemicals and materials: e.g., BASF SE, LG Chem, Solvay, Umicore
Media and information: e.g., Bloomberg
Management consulting: e.g., Boston Consulting Group, Kearney, Roland Berger GmbH
Beverages and brewing: e.g., Carlsberg Group, Coca-Cola HBC AG, Heineken NV, Suntory Holdings
Construction materials: e.g., CEMEX, Holcim
Energy and utilities: e.g., Drax, EDP, Enel, Naturgy, Ørsted
Advertising and marketing: e.g., Dentsu Group Inc.
Banking: e.g., Deutsche Bank AG, BBVA
Real estate and property: e.g., Edge, JLL
Telecommunications: e.g., Ericsson, Telenor
Accounting and audit: e.g., EY
Manufacturing and industrial: e.g., Flex, GEA Group, Grundfos, Siemens AG
Retail and consumer goods: e.g., Inditex, Nestlé, PepsiCo, Unilever
IT services and solutions: e.g., Infosys Limited, Palo Alto Networks
Petrochemicals and plastics: e.g., Indorama Ventures
Furniture and home furnishing: e.g., Ingka Group (IKEA)
Healthcare and medical technology: e.g., Royal Philips, Henry Schein Inc.
Food distribution and services: e.g., Sysco
Mining and metals: e.g., Teck, Newmont
Automotive and transportation: e.g., Scania, Volvo Cars, Volvo Group
Energy management and automation: e.g., Schneider Electric
Renewable energy: e.g., Siemens Gamesa Renewable Energy, Vestas Wind Systems
Entertainment and electronics: e.g., Sony Group Corporation
Reinsurance: e.g., Swiss Reinsurance Company Ltd
Food production: e.g., Tyson Foods Inc.
This list provides a broad overview of the industries represented by the signatories. Many of these companies operate in multiple sectors, and the categorisation is based on their primary industry or most well-known operations.
