Husqvarna Group endorses the Call on Carbon in ramp up to COP26

Rhea-AI Summary

On October 28, 2021, Husqvarna Group endorsed the Call on Carbon, urging COP26 delegates to implement effective carbon pricing policies. CEO Henric Andersson emphasized the company's commitment to leading in low-carbon solutions. The initiative aims to align carbon pricing globally, enhance investments in clean solutions, and address the imbalance of fossil fuel subsidies versus climate investment needs. The Call on Carbon is supported by multiple corporate and sustainable business networks.

Positive

• Husqvarna's endorsement of the Call on Carbon highlights its commitment to sustainability and positioning as an industry leader in low-carbon solutions.
• The initiative could enhance market conditions for alternative energy solutions, potentially benefiting long-term company growth.

Negative

• None.

STOCKHOLM, Oct. 28, 2021 /PRNewswire/ -- Husqvarna Group has announced its endorsement of the Call on Carbon, a cross-sectoral initiative led by the Climate Leadership Coalition (CLC). In this way, Husqvarna Group is strongly urging country delegates at COP26 in Glasgow to introduce a robust, effective policy framework for carbon pricing.

Husqvarna Group's President & CEO Henric Andersson underlined the importance of being a signatory to this Call.

"We have a stated ambition to lead our industry in the shift to low-carbon solutions. We are using our voice to encourage fit-for-purpose carbon pricing instruments that will shape markets for alternative energy solutions and tackle the urgency of climate change. As a global company, we want to see that these pricing frameworks are aligned globally."  

As a signatory, Husqvarna Group is calling on country delegates to:

1. back up national Paris Agreement commitments with effective, robust, reliable and fit-for-purpose carbon pricing instruments that will shape a cost-effective investment path to net zero,        
2. align carbon-pricing instruments where appropriate between countries to create a stable and predictable investment environment and    
3. finalize the rules for international market mechanisms under Article 6 of the Paris Agreement. This will not only support cost-effective mitigation efforts, create a level playing field and minimize carbon leakage, it will also enable markets to raise their level of ambition.

Although about 70 percent of the world's economy has set climate neutrality targets, the level of investment in clean solutions is still too low to meet them. The CLC estimates that investment needs to triple in order to limit a global temperature increase to 2°C and increase fivefold to limit a rise in temperature to 1.5°C. At the same time, direct fossil-fuel subsidies are tenfold higher. The indirect costs of fossil combustion and the impacts magnified by climate change are a hundred times larger than revenues raised by carbon pricing. The Call aims to address this imbalance, aligned to effectively limit a temperature rise to 1.5°C.

The Call on Carbon is a joint initiative of Climate Leadership Coalition, Haga Initiative and Skift Business Climate Leaders supported by Corporate Leaders Group Europe, BCSD Portugal and CER – Sustainable Business Network Slovenia.

For additional information
Husqvarna Group press department  +46 8 738 9080 or press@husqvarnagroup.com

Husqvarna Group

Husqvarna Group is a global leading producer of outdoor power products and innovative solutions for forest, park and garden care. Products include chainsaws, trimmers, robotic lawn mowers and ride-on lawn mowers. The Group is also the European leader in garden watering products and a global leader in cutting equipment and diamond tools for the construction and stone industries. The Group's products and solutions are sold under brands including Husqvarna, Gardena, McCulloch, Flymo, Zenoah and Diamant Boart via dealers and retailers to consumers and professionals in more than 100 countries. Net sales in 2020 amounted to SEK 42bn and the Group has around 13,000 employees in 40 countries.

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SOURCE Husqvarna AB

FAQ

What is the Call on Carbon initiative endorsed by Husqvarna Group?

The Call on Carbon is a cross-sectoral initiative urging countries to implement effective carbon pricing policies to combat climate change.

What did Husqvarna Group's CEO say about the importance of carbon pricing?

CEO Henric Andersson emphasized the need for effective carbon pricing to lead the industry towards low-carbon solutions.

When did Husqvarna Group endorse the Call on Carbon?

Husqvarna Group endorsed the Call on Carbon on October 28, 2021.

How does the Call on Carbon relate to COP26?

The Call on Carbon aims to influence delegates at COP26 to adopt robust carbon pricing policies.

What are the expected benefits of the Call on Carbon initiative?

The initiative aims to enhance investment in clean solutions and align carbon pricing globally to reduce climate change impacts.