Ambitions Index 2023 – 75 per cent of Swedish large-cap companies now have climate goals in line with the 1.5-degree target

For the fourth consecutive year, the Haga Initiative has surveyed the number of large-cap companies on the Swedish stock market with climate goals to halve their greenhouse gas emissions by 2032, aligned with the 1.5-degree target. The survey is summarized and presented in the report “Ambitions Index 2023”. Ambitions Index 2023 shows that 75 per cent of Swedish large-cap companies now have goals to halve their scope 1 and 2 emissions by 2032. 75 per cent is a significant increase from 20 per cent in 2020, 39 per cent in 2021, and 66 per cent in 2022. The Ambitions Index 2023 also shows that 56 per cent of Swedish large-cap companies have goals to halve scope 3 emissions by 2032. This is also a clear increase from 34 per cent in 2021 and 38 per cent in 2022.

“It’s encouraging to see a rising number of companies adopting ambitious climate objectives, showcasing the business sector’s significant contribution to combating climate change,” says Nina Ekelund, Executive Director at the Haga Initiative.“The determination and influence of the business sector demonstrate that achieving the 1.5-degree target is possible, especially if supported by ambitious, long-term, and predictable policies from the political sector,” says Nina Ekelund.

According to the GHG Protocol, scope 1 encompasses direct emissions of greenhouse gases from operations. Scope 2 includes emissions from purchased electricity and heat. Scope 3 summarises indirect emissions from a company’s entire value chain. In the Ambitions Index, scopes 1 and 2 are reported separately from scope 3.

The survey was conducted from June to November 2023. All companies that were not deemed to achieve the halving were contacted in November 2023. The report was completed in December 2023.

 

Read the report here.

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