The statement is part of the Science Based Targets initiative and its Business Ambition for 1.5°C campaign.
”Even if the pandemic calls for urgent measures it is more important than ever to not lose sight of long-term commitments”, says Torbjörn Lööf, CEO of Inter IKEA Group. “Now is also the time to lay the groundwork for a positive recovery which is good for people, society and the planet. A more modern, inclusive and circular economy built on renewable energy is the way forward and collaboration is more important than ever.”
The letter states, “we must move beyond business-as-usual and work together in solidarity to deliver the greatest impact for people, prosperity and the planet”. Key points include the need to base work on the best available climate science, push for investments which support the transformation to a green and socially inclusive economy and the scaling up this movement to reach critical mass.
IKEA remains committed to becoming climate positive and circular by 2030, reducing more greenhouse gas emissions than the total IKEA value chain emits, while growing the IKEA business. To reach the climate goals the IKEA business will:
- Strive for 100% renewable energy in all IKEA operations and enabling our suppliers and customers to do the same
- Innovate and use more sustainable materials and food ingredients, e.g. plant-based food, 100% recycled or renewable materials, and more
- Transform into a circular business by developing circular products and services and promote longer and more efficient product and material use
- Store carbon in land, plants & products by investing and improving management practices and responsible sourcing standards for forestry and agriculture
IKEA will continue to support initiatives which demonstrates leadership and pushes for bold action. The long-term economic recovery packages will set the strategic direction of the global economy for years to come. IKEA urges policymakers to specifically consider some areas, including:
- Higher ambition for 2030 reduction target, all countries need to step up their efforts to limit global temperature increase to 1.5°C, making it easy for companies to make their contribution.
- Supporting poor and vulnerable communities who are the hardest hit by climate change, with a focus on climate adaptation and resilience to alleviate poverty and ensure food security
- The importance of electrification and sustainable biofuels, with focus on electrifying current use of fuels and using scarce biofuels only where needed
*The ‘Recover Better’ statement has been convened by the Science Based Targets initiative (SBTi) and its Business Ambition for 1.5°C campaign partners, the UN Global Compact and the We Mean Business coalition. The SBTi, which is a collaboration between CDP, the UN Global Compact, World Resources Institute and WWF, independently assesses and validates corporate climate targets against the latest climate science.