Goal 13 - Climate Action
Climate Action SDG 13 - Take urgent action to combat climate change and its impacts.
Why: The business community has a key role in taking action and coming up with new innovative solutions to combat climate change and increase resource efficiency. To limit global warming to 1.5°C, greenhouse gas emissions need to halve by 2030, and drop to zero by the middle of the century. Investor is committed to climate targets aligned with the Paris Agreement and has set targets to halving the greenhouse gas emissions by 2030.
What we do: In 2022 we reduced our own absolute Scope 1 and 2 emissions by 42% compared to 2016. As a long-term owner, we need to take into account risks as well as business opportunities related to climate change and thus accelerate the transition to a sustainable low carbon economy. In 2022, the portfolio companies’ absolute reductions in scope 1 and 2 emissions equaled 1,406,100 tones or 57% compared to 2016.
One example: Climate action
ABB is contributing to achieving the climate goals with their pioneering technologies. One example is power transformers to a wind farm in the North Sea. The second phase of the immense Borssele wind farm is being built 22 kilometers off the coast of the Netherland. One of the critical components to the wind farm is the innovative WindSTAR that enable a new generation of powerful offshore wind turbines to operate at high voltage. This significantly reduces losses and increases efficiency.