A multinational company (MNC) known for its affordable, stylish and ready-to-assemble furniture, home accessories and kitchen appliances strive towards a sustainable future. In their business model, the company is committed to providing affordable, accessible, and sustainable goods. This commitment is shaped by their experience with global challenges, including the continuous effects of climate change on people and nature, rising geopolitical conflicts, and widespread inflation. These challenges have reinforced the need to address climate change, nature loss, and inequality.
In FY24, the MNC introduced an enhanced climate agenda, net zero and beyond, focusing on three key aspects:
•Reduction in greenhouse gas (GHG) emissions across the value chain
•Capturing and storing carbon from the atmosphere through forestry, agriculture, and products within the value chain
•Reduction of the carbon footprint
Regarding carbon footprint reduction, the total climate footprint in 2024 decreased by 1.1 million tons of CO₂ equivalent (tCO₂e) in absolute terms compared to FY23. This reduction was primarily attributed to the continued increase in renewable energy use.
Since product use at home represents the company's second-largest source of emissions, they achieved a 4% reduction in 2024. This decrease was partly due to a 2% improvement in the energy efficiency of their lighting range.
In production, the climate footprint decreased by 21% in FY24 compared to FY23. This was achieved through an increased share of renewable energy, which increased to 75% in FY 24 from 71% in FY 23. Meanwhile, the overall renewable energy share increased to 52% in FY24 from 48% in FY23.
Initiatives such as using biofuels in ocean transportation mark a significant step toward achieving zero-emission shipping across their supply chain. In FY24, using biofuels, the company avoided 49,164 tons of CO₂ emissions in ocean shipping. Compared to FY 23, they scaled up the use of biofuels by 95%.
Through continuous initiatives, investments, and explorations, the company aims to meaningfully impact its climate goals and inspire a broader societal movement toward a more sustainable future.
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