Formica Capital joins 1.5°C Business Playbook as first investment company
May 18, 2020
Formica Capital has, as the first investment company, decided to join the group of leading organizations that develop and use the 1.5°C Business Playbook as a mean to drive down climate emissions in global value chains. It is an important part of Formica’s commitment to actively contribute to the positive impact of the companies they invest in and in addition they hope to inspire other investment companies to actively drive the climate agenda.
The 1.5°C Business Playbook is a spin-off from the world-leading Exponential Roadmap Initiative. It supports the worldwide call to action for all companies to set sharp climate targets now and establish a strategy throughout their value chain, business proposition and beyond, which is aligned with the ambition to limit global warming to 1.5°C.
The Playbook, a concrete tool produced by leading experts and business stakeholders, provides a framework for companies of all sizes to reach net-zero emissions rapidly through the adoption of an exponential trajectory of at least halving their greenhouse gas emissions every decade to approach net zero by 2050, and integrating climate action into their business strategy.
Olof Cato, CEO Formica Capital: “We are very excited to take part of the 1.5°C Business Playbook initiative, which we believe is a scientific yet practical way for companies to reduce carbon emissions while improving their competitive advantage and bottom line results.”
Formica will use the Playbook as an integral part of the Formica Formula, their approach to supporting portfolio companies in increasing impact and in acting responsibly, which Formica is convinced are two key factors for increased value. Formica hopes to contribute to the Playbook with their perspective as an investment company and with their strategic sustainability expertise, in order to ensure that the playbook will be easy for companies to start using and that it also includes a focus on value creation.
“The Playbooks inclusion of the full value chain and emphasis on including carbon strategies in the heart of business strategies is the only way of being successful in your climate ambitions and to future proof your business”, says Tomas Haglund-Flemström, Director Innovation & Sustainability at Formica Capital.
“This Playbook is aligned with the target to limit global warming to just 1.5°C. The only pathway left is massive emissions reductions across all business sectors in the next decade. We show that this is achievable”, Johan Rockström, Director of Potsdam Institute for Climate Impact Research (PIK).
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About Formica Capital
Formica Capital is a Swedish investment company with a long-term ownership strategy. It is owned by the Olsson Eriksson family. Formica Capital creates value by being an active owner in profitable and long-term sustainable companies, that positively impacts society. www.formicacapital.se
More about the Business Playbook
The Playbook, a spinoff of the Exponential Roadmap, is produced by leading experts and business stakeholders and provides tool on how to set targets and action in line with 1.5 degrees. The 1.5°C Business Playbook is supported by more than 30 partners including the International Chamber of Commerce (ICC), WWF, Ericsson, IKEA, Scania and Skanska. http://www.exponentialbusiness.org/