Many Danish companies have high climate ambitions. The Danish C25 companies alone want to reduce their global emissions by more than 160 million tons of CO2 by 2030. That is four times as much as Denmark's total annual emissions.
The goals This places Denmark at the forefront when it comes to setting climate goals through the international initiative Science Based Targets. This is shown in a report from Global Compact Network Denmark in collaboration with Axcelfuture and the Ministry of Foreign Affairs.
- It is gratifying to see Danish companies leading the way in the climate fight and setting very specific climate goals that actually ensure real reductions that contribute to achieving the Paris Agreement. Even though Denmark is a small country, the largest companies can help inspire the global business community. They show that ambitious and clear climate targets can increase competitiveness, says Sara Krüger Falk, Director of Global Compact Network Denmark.
The Science Based Targets initiative (SBTi) is a voluntary non-profit initiative where companies can set and have validated climate targets that are consistent with climate science and contribute to achieving the UN Paris Agreement. The initiative is supported by the UN Global Compact, WWF, CDP and WRI.
More positive than the UN report
The report from Global Compact Network Denmark provides a snapshot of Danish companies' adherence to SBTi in the run-up to the UN climate summit COP27, which is taking place in Egypt these days.
While a recent UN report summarizes the world's countries' inadequate national climate plans, the new SBTi report depicts an exponential growth in companies that contribute directly to achieving international climate goals – especially in Denmark.
Thus, 112 Danish companies have now joined SBTi. The number of affiliated companies has doubled compared to the previous year. Denmark now has the second highest share of SBTi-validated companies in the OECD measured in relation to the total number of companies – surpassed only by Switzerland. This puts Denmark in a unique position, says Global Compact Network Denmark.
- It is essential that we achieve a critical mass of companies in SBTi that can ensure increased climate action by subcontractors and partners and thus create a domino effect. Here, it is always the case that Danish companies are at the forefront. They help to make science-based climate goals a hygiene factor in international markets. With increasing climate demands from investors and the EU's upcoming directive on sustainability reporting, it is a competitive advantage to be at the forefront.
Denmark's largest companies in particular are affiliated with SBTi. If you look at the Danish C25 index, 19 of the companies are part of the initiative, while 12 of these have had their goals validated by SBTi. According to the report, however, more SMEs are also starting to join the initiative.
amp
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
