Ericsson is one of the partners behind the first business playbook for exponential climate action - launched at the World Economic Forum in Davos, Switzerland. The playbook outlines a framework for businesses to drive strategies in line with stabilizing temperature rise to 1.5°C.
In order to achieve the 1.5°C ambition, the playbook says that greenhouse gas emissions must stop growing by 2020 and halve every decade in future to approach net-zero by 2050. It also calls for simultaneous action to remove some already-emitted carbon.
The playbook says that while meeting the target will require the fastest economic and societal transition in history – it is achievable.
The framework is a spin-off from the Exponential Roadmap initiative, a Stockholm-based collaboration of international technology innovators, scientists, companies and NGOs dedicated to mitigating overall greenhouse gas emissions in line with the Intergovernmental Panel on Climate Change (IPCC) special report on 1.5°C.
The playbook highlights how businesses can reach net-zero emissions through exponential action to halve their greenhouse gas emissions every decade, and fully integrate climate action in their business strategy.
The playbook has four focus pillars:
- to reduce the company’s own emissions
- to reduce the company’s value chain emissions
- to transform the company’s products, services and projects to be low or zero emissions or even remove carbon from the atmosphere
- work with other actors in society to accelerate climate action.
Heather Johnson, Head of Sustainability and Corporate Responsibility, Ericsson, says: "As a sustainability pioneer in the private sector we have been both an advocate of climate action within our own operations as well as in society. We have also developed an integrated strategy and set challenging 1.5°C targets. Now, it is time for all companies to do the same and the playbook is a guide for how this can be done. We will work with our business partners to utilize the playbook tool to enable exponential reduction of carbon emissions globally.”
Johan Falk, from the Exponential Roadmap initiative, says: “We designed this to make it as easy as possible for businesses to set sharp targets and meet them through clear action. In fact, many companies can halve their emissions much faster than every decade.”
The Playbook is in line with existing standards and key initiatives such as the Greenhouse Gas Protocol (GHG), the Science Based Targets Initiative (SBTi), Carbon Disclosure Project (CDP), RE100, Mission Innovation’s 1.5°C compatible solutions framework and the Chambers Climate Coalition.
Other partners include the Exponential Roadmap Program, WWF, the International Chamber of Commerce, the World Business Council for Sustainable Development, the Potsdam Institute for Climate Research, the HAGA Initiative, the Finnish Future Fund, Climate Leadership Coalition, IKEA, Scania, Telia, Scania, and KTH Royal Institute of Technology.
Download the report from Exponential Roadmap via this link. (Gated content).
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