Climate & Energy initiatives
Carbon Pricing Leadership Coalition (CPLC)
We continue to drive carbon pricing and share our experiences on the topic through the Carbon Pricing Leadership Coalition. The CPLC’s long-term objective is for effective carbon pricing to be applied throughout the global economy. In addition to facilitating leadership dialogues, the CPLC and its partner organizations are also mobilizing business support to put an internal price on carbon. We apply an internal carbon price of €100 per ton of CO2eq when reviewing large investments and acquisitions, and we include this in internal management reporting by our Business Groups.
Our engagement with RE100, the world’s leading campaign to scale up the corporate sourcing of renewable power, continued throughout 2021. In addition to peer exchange to advance the uptake of renewable electricity in China, we participated in several learning events, conferences and advocacy opportunities in Europe, the US and China.
We Mean Business
We Mean Business activates hundreds of companies and investors to commit to low-carbon initiatives. In 2021, we worked on several advocacy and communications activities in the context of COP26 that called on governments to urgently match their ambition and policies to limit global temperature rise to 1.5°C above pre-industrial levels, and demonstrate the private sector’s support for these efforts, along with the enabling solutions developed to date.
Global Center and Commission on Adaptation (GCA)
We continued our partnership with the GCA, particularly by lending our expertise in food security, and helping smallholder farmers manage risks and climate shocks through Africa Improved Foods (AIF), but also by mobilizing the private sector to adopt an integrated strategy to address climate adaptation alongside climate mitigation efforts.
Taskforce on Scaling up Voluntary Carbon Markets
We are a member of the Taskforce on Scaling up Voluntary Carbon Markets, a private sector-led initiative working to improve the credibility and functionality of an effective and efficient voluntary carbon market to help meet the goals of the Paris Agreement. The taskforce is providing insights and recommended actions for the most pressing pain-points facing voluntary carbon markets.
Science Based Targets Initiative: Net-Zero Expert Advisory Group
We joined the Science Based Targets Initiative Net-Zero Standard Expert Advisory Group (EAG) in 2020. This group is at the heart of the development process for a standard to guide the formulation and assessment of science-based net-zero targets in the corporate sector. These targets are consistent with action needed to limit warming to 1.5°C while minimizing trade-offs with other SDGs. The standard was launched in October 2021, and the work to refine it will continue with the support of the EAG throughout 2022.