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From Sustainability to Purpose: Climate Action

June 2021

As the UN Climate Summit "COP 26" approaches, the world is finally confronting the reality of the climate crisis. With consumers calling for climate action, governments declaring climate emergency, businesses facing potential disruption to their operations and investors increasingly demanding climate disclosures, climate action is set to be one of the key sustainability topics in 2021.

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Key findings

The business case for climate action is clear

With consumers, investors and governments increasing the pressure to disclose and minimise climate impacts, businesses, cities and countries around the world are embracing low-carbon strategies to reduce their emissions.

Consumers are adopting lifestyle changes to shrink their carbon footprint

Lifestyles and purchasing decisions are increasingly shaped by environmental concerns. As the number of consumers worried about climate change grows, companies are increasingly communicating products’ environmental impacts using carbon footprint labels.

Cities are key to fighting climate change

As climate change makes extreme weather more frequent and/or severe, many cities are at higher risk of rising ocean levels, and/or suffering droughts or flooding. To minimise the negative impacts for citizens and businesses, cities that are more climate-vulnerable are rushing to implement climate adaptation measures.

Supply chains need to invest in climate change adaptation

Making supply chains more climate-resilient has become imperative. Changes in climate patterns bring tremendous risks for businesses, such as disruption in manufacturing and logistics, rising production costs and losses in corporate productivity and revenues.

Innovation towards a low- carbon future is booming

Increased climate awareness and net-zero carbon commitments are expected to drive the highest investments in areas such as energy efficiency, employee education and renewable energy, unlocking opportunities for innovations and collaborations.

Scope
Key findings
The risks of climate inaction are mounting
Climate change is a global threat
From Sustainability to Purpose: Climate Action
Exploring from sustainability to purpose: climate action
From sustainability to purpose: climate action in-depth
Sustainable lifestyles
Climate-smart cities
Climate-resilient supply chains
From sustainability to purpose: climate action in focus
Companies are meeting the needs of consumers using various strategies
Climate leadership: Unilever
Education and consumer behavioural change: klarna
Electric vehicles: soooroya
Carbon-neutral products: Nestlé
Offsetting carbon emissions: onfleet
Carbon capture technologies: Unilever
Supporting suppliers to decrease their emissions: arla foods
Renewable energy: IKEA
From Sustainability to purpose: climate action
Key industry takeaways
Challenges to overcome
Become tomorrow’s next leader
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