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These CEOs have a message on climate for global leaders (via World Economic Forum)

Firstwater Advisory

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:

  1. Shipping and logistics: e.g., A.P. Moller-Maersk, Deutsche Post DHL Group

  2. Technology and electrification: e.g., ABB, Dell Technologies, Microsoft, Sony Group Corporation

  3. Professional services and consulting: e.g., Accenture, Bain & Company, Deloitte, McKinsey & Company, PwC

  4. Household appliances: e.g., Arçelik

  5. Design and engineering: e.g., Arup

  6. Pharmaceuticals and biotechnology: e.g., AstraZeneca, Takeda Pharmaceutical Company

  7. Software and digital solutions: e.g., AVEVA, SAP SE, Salesforce

  8. Insurance and financial services: e.g., AXA, Banco Santander, BBVA, ING, Standard Chartered Bank

  9. Chemicals and materials: e.g., BASF SE, LG Chem, Solvay, Umicore

  10. Media and information: e.g., Bloomberg

  11. Management consulting: e.g., Boston Consulting Group, Kearney, Roland Berger GmbH

  12. Beverages and brewing: e.g., Carlsberg Group, Coca-Cola HBC AG, Heineken NV, Suntory Holdings

  13. Construction materials: e.g., CEMEX, Holcim

  14. Energy and utilities: e.g., Drax, EDP, Enel, Naturgy, Ørsted

  15. Advertising and marketing: e.g., Dentsu Group Inc.

  16. Banking: e.g., Deutsche Bank AG, BBVA

  17. Real estate and property: e.g., Edge, JLL

  18. Telecommunications: e.g., Ericsson, Telenor

  19. Accounting and audit: e.g., EY

  20. Manufacturing and industrial: e.g., Flex, GEA Group, Grundfos, Siemens AG

  21. Retail and consumer goods: e.g., Inditex, Nestlé, PepsiCo, Unilever

  22. IT services and solutions: e.g., Infosys Limited, Palo Alto Networks

  23. Petrochemicals and plastics: e.g., Indorama Ventures

  24. Furniture and home furnishing: e.g., Ingka Group (IKEA)

  25. Healthcare and medical technology: e.g., Royal Philips, Henry Schein Inc.

  26. Food distribution and services: e.g., Sysco

  27. Mining and metals: e.g., Teck, Newmont

  28. Automotive and transportation: e.g., Scania, Volvo Cars, Volvo Group

  29. Energy management and automation: e.g., Schneider Electric

  30. Renewable energy: e.g., Siemens Gamesa Renewable Energy, Vestas Wind Systems

  31. Entertainment and electronics: e.g., Sony Group Corporation

  32. Reinsurance: e.g., Swiss Reinsurance Company Ltd

  33. 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.