For the next two weeks, thousands of delegates from around the world try to move forward on urgent climate action at the United Nations 2024 climate summit, COP29, in Baku, Azerbaijan.
This year, a key objective of the summit is negotiating and adopting a new collective quantified goal for climate finance (NCQG) to support developing countries in their transition to a climate-resilient future. Updated national climate action plans (Nationally Determined Contributions or NDCs) with robust new emissions targets are also expected from leading countries to set the level of ambition for other countries’ national climate action plans, due by 2025.
There has been uncertainty around the COP29 outcome due to, for example, current geopolitical tensions and some key decision-makers not attending the summit. Even so, Huhtamaki is committed to mitigating its impacts on climate and hopes for COP29 decisions with ambitious, concrete targets to help us all limit global temperature rise to a sustainable level.
“We should keep the climate momentum going. Since the Paris Agreement in 2016, there has been good development and many right actions have been taken, but the past year has been more turbulent. We need to ensure that climate progress does not slow down – both at global, national, and corporate levels,” says Salla Ahonen, Huhtamaki’s EVP of Sustainability and Communications. “Many companies have already committed to the 1.5-degree target. Decision-makers should not lose their sight on this critical goal when enacting new climate legislation.”
Focusing on global direction and local perspectives
Doubling energy efficiency globally by 2030 is a critical climate target set already at COP28. Even though energy efficiency is a global issue, actions to achieve it depend on the local conditions and existing energy infrastructure. This applies to overall emission reduction targets, as well.
Moreover, while the European Union has made good progress in its climate commitments, it is important to remember that the EU nations are not the only countries that understand the significance of the issue.
“We see willingness and ability to move things forward in countries across the world – although, for example, the transition to greener energy is not easy, as it requires infrastructure and investments that are lacking in some countries,” Salla Ahonen says.
The global challenges are also visible in Huhtamaki’s value chain, with some suppliers and customers far along on their climate journey and some others only just begun. Huhtamaki is actively looking for new opportunities for collaboration and ways to get its whole value chain involved in actions against climate change. From a local perspective, advancing climate work means, for example, that each production facility of Huhtamaki has its own climate plan.
“Our customers also increasingly need us to demonstrate how we contribute to reducing their climate emissions. This underlines the importance of open dialogue and collaboration on climate issues across the value chain,” Salla Ahonen says.
Reviewing Huhtamaki’s climate goals
Huhtamaki’s science-based emission reduction targets were approved and validated by the Science Based Targets initiative (SBTi) in 2021.
Today, Huhtamaki’s own operations account for approximately 20% of our total GHG emissions, while 80% arise from other parts of the value chain. In addition to reducing the GHG emissions from our own operations, we are engaging with our suppliers and business partners to reduce the emissions stemming from our value chain and facilitate recycling, composting, and recovery of our products at the end of their life cycle.
As new climate regulation, information and innovations emerge, climate action plans need to be adjusted accordingly, both at national and corporate levels. At Huhtamaki, we are also currently reviewing our climate goals to ensure that we are moving to the right direction and utilizing the best solutions for our purposes across the value chain.
“We operate in 37 countries, all with different challenges and opportunities in terms of mitigating climate change. Building on SBTi and the Paris Agreement, we want to further strengthen our own climate actions. We are building a clearer climate program, with pilots underway in Europe, the United States, and India to better align our targets and actions to the local operating environment,” Salla Ahonen notes.
Aligning climate and nature action
The UN Biodiversity COP16 held in Colombia in October focused on negotiating the actions required to accelerate the implementation of the Kunming-Montreal Biodiversity Framework. Building stronger synergies between climate and nature was a key topic at COP16 and is also on the COP29 agenda, as efforts to combat climate change are an effective way to address nature loss, and vice versa.
Huhtamaki’s business is dependent on natural resources, and we are committed to continuously improving our impacts on the environment in all operations: minimizing emissions, minimizing the use – and waste – of raw materials, and improving energy efficiency. We have already taken steps and made achievements in our climate and nature work, and remain committed to continuous, steadfast progress. As one recent example, we have committed to following the TNFD framework to assess our nature-related risks and opportunities, ensuring that our actions to protect nature are as effective as possible.
The global climate summits and agreements of the past 10 years have impacted the operating environment of companies, helping them to understand their role in climate change and adapt their operations accordingly. For COP29, we are hoping that the negotiators to see past their differences and reach decisions that continue to drive climate progress forward on all fronts.
References:
COP29: Why it matters and 4 key areas for action | World Economic Forum (weforum.org)
Climate finance: Council approves conclusions ahead of COP29 (europa.eu)