Alliance of CEO Climate Leaders cuts 450 megaton emissions with revenues up 18%

28 / 09 / 2024

By Marwa Nassar - -

The Alliance of CEO Climate Leaders has cut emission by 10% across all three emissions scopes – equivalent to 450 megatons, roughly the annual emissions output of France or the United Kingdom, with growth revenues up 18% over 2019 to 2022.

Launched alongside the signature of the Paris Agreement, the alliance is the world’s largest CEO-led community focused on net-zero emissions, representing $4 trillion in revenue and 12 million employees in 12 industries, including healthcare, retail, heavy industry and agriculture.

“Bold and decisive leadership is needed to accelerate the net-zero, nature-positive transitions,” said Gim Huay Neo, Managing Director, World Economic Forum. “Over the last three years, the Alliance of CEO Climate Leaders has successfully cut 10% of its aggregate emissions – equivalent to the annual emissions of France – while growing revenue ahead of global GDP growth and delivering significant value for their stakeholders. This clearly demonstrates that positive climate action does not have to come at the expense of economic performance.”

“This is clear evidence of the value of membership in this type of alliance,” said Feike Sijbesma, Chair of the Supervisory Board of Royal Philips and founding Co-Chair of the Alliance of CEO Climate Leaders. “The results prove that green growth is not just an idea for the future but a real value driver today. Moreover, they highlight the benefits of collaborative action for front-runners like the alliance members who are committed to driving real-world change. Our members continue to work together, sharing knowledge and learning from each other’s transition efforts – which have helped us to achieve this remarkable value creation with simultaneous emissions reductions.”

These reductions were made possible by the collective dedication of alliance members in addressing all three emissions scopes, with a particular focus on initiatives to tackle Scope 3 emissions which account for over 85% of the alliance’s combined footprint. In 2023, for example, 19% more alliance members took action to address Scope 3 upstream emissions including sustainability criteria in their procurement decisions, supporting suppliers to measure and reduce emissions, and engaging in financing initiatives such as paying green premiums. Additionally, the number of alliance members addressing their Scope 3 downstream emissions, through a sustainability-focused product design and partnerships with clients to address life-cycle emissions, increased by 12%.

“The alliance is showing that businesses can collectively make significant progress towards implementing the goals of the Paris Agreement,” said Sumant Sinha, Chairman and CEO of ReNew and Co-Chair of the Alliance of CEO Climate Leaders. “This group of 131 CEOs of the global Alliance comprises some of the largest companies across 27 countries, who are demonstrating that the economics of climate action can work in all regions – from emerging markets to developed economies. We hope these results encourage more businesses to join us in applying their knowledge and skills to transition to a truly global, net-zero economy that benefits communities all around the world.”