Klarna Wins Net Zero Award at Global Sustainability Awards
Klarna, the Swedish fintech giant, has won the Net Zero Award at the Global Sustainability and ESG Awards 2024.
Salah Said & Sara Davidson, Head of Sustainability and Sustainability Marketing & Communications Lead at Klarna, said: “It’s the perfect start to the journey. We’ll do more - more action!
“Our advice - to do and not talk. Default to action.”
Klarna has embarked on an ambitious journey towards net zero, setting a new benchmark for corporate climate action.
The company's strategy goes beyond traditional emissions reduction, embracing a holistic approach that includes innovative financing mechanisms and support for cutting-edge climate solutions.
The heart of Klarna's efforts is its commitment to fully decarbonise its value chain by 2040, with an interim target of halving emissions by 2030.
The company has already made significant strides, reducing its combined Scope 1, 2 and 3 emissions by 25% in 2023 compared to the previous year.
Perhaps most notably, Klarna has implemented a pioneering internal carbon tax, which raised US$2m in 2023 alone.
This voluntary levy has generated a total of US$7m since 2021, channelled into the Climate Transformation Fund (CTF).
The CTF supports a diverse portfolio of climate projects, ranging from nature protection to innovative carbon removal techniques.
Klarna's approach aligns with the Science Based Targets initiative's 'Beyond Value Chain Mitigation' guidance, demonstrating a commitment to both reducing its own emissions and supporting external climate solutions.
This strategy has inspired other companies, including Spotify and ING Bank, to join Klarna's efforts in supporting the CTF.
The company's sustainability initiatives extend to its customer base as well.
In 2021, Klarna launched the CO₂e Emissions Tracker, a tool that provides consumers with insights into the carbon footprint of their purchases.
This feature has been adopted by over 7.26 million consumers, with an average of 460,000 users tracking their carbon footprint monthly.
As Klarna continues to scale its sustainability efforts, it's clear that the company is not just aiming for net zero within its own operations, but is actively working to influence positive change across its industry and beyond.
By combining emissions reduction with strategic investments in climate solutions, Klarna is setting a new standard for corporate environmental responsibility in the fintech sector.
Steven Downes, Editor-in-Chief, Sustainability Magazine, said: “Klarna’s initiatives to accelerate towards net zero are inspirational. The Net Zero Award is a richly deserved reward for its vision and direction.”
The awards
Launched in 2024, The Global Sustainability & ESG Awards 2024 debuted at Sustainability LIVE London on 10, September.
The comprehensive programme acknowledges companies, professionals and projects that have demonstrated exceptional performance, innovation and strategic thinking in a multitude of categories
The awards celebrate the best companies, professionals and projects in sustainability and ESG, and offer free entry for charities and NGOs.
“It was an honour to spotlight such a wide range of incredible companies at the inaugural Global Sustainability and ESG awards,” said Glen White, CEO of BizClik and Sustainability Magazine.
“At a time where it is crucial that companies are getting their sustainability strategy right, it is more important than ever to uplift and celebrate the frontrunners, the innovators and the pioneers who are developing innovative initiatives, projects and strategies that will have a positive impact on the planet for years to come.
“To host the awards during Sustainability LIVE London, where we’ve brought together thousands of the world’s brightest minds in sustainability, is an incredible moment for the sector to celebrate, we encourage many more companies to enter our Awards for 2025.
“Thanks to every company that entered - I say ‘just keep going on your journey’ and a big Congratulations to every company who was shortlisted, highly commended and of course to our 15 winners – we appreciate your input more than you know.”
“To host the awards during Sustainability LIVE London, where we’ve brought together thousands of the world’s brightest minds in sustainability, is an incredible moment for the sector to celebrate, we encourage many more companies to enter our Awards for 2025.
“Thanks to every company that entered - I say ‘just keep going on your journey’ and a big congratulations to every company who was shortlisted, highly commended and of course to our 15 winners – we appreciate your input more than you know.”
The Net Zero Award
The Net Zero Award commends the innovative companies at the forefront of advancing the transition to a net-zero economy, particularly the shortlisted companies:
- Dubai Municipality
- DP World
- Barclays
- Mitie
These companies have all shown commitment to industry emissions reduction, implemented net zero innovations or initiatives and seen tangible results in reducing their Scope 1, 2 and 3 emissions.
Beyond this, the companies support partner, customer and supplier emissions reductions and in turn have a considerable impact on the global mission to emission reduction.
Highly Commended: Dubai Municipality & DP World
Ranked as highly commended for the Net Zero Award are Dubai Municipality and DP World are making significant strides, each leveraging their unique positions to drive industry-wide change.
Dubai Municipality's sewage treatment plant department is at the forefront of emissions reduction, with innovative projects yielding impressive results.
Their Biogas to Energy plant at Warsan STP generates 6 MW of power, slashing carbon emissions by 31,000 tonnes annually.
By 2024, the facility is set to operate entirely on clean energy, marking a milestone in sustainable urban infrastructure.
The municipality's commitment extends beyond its operations.
Its comprehensive sustainability policy, implemented in 2023, encompasses environmental, social and economic aspects, influencing partners and suppliers alike.
Collaborations with entities such as DEWA are reducing fossil fuel usage in power generation, while treated effluent is repurposed for district cooling and irrigation.
Meanwhile, DP World, a global leader in logistics, is tackling emissions in the transport sector head-on.
The company has pledged to achieve net zero carbon emissions across its operations by 2050, having already reduced emissions by 13% against its 2022 baseline.
DP World has now set more ambitious targets: a 42% reduction in Scope 1 and 2 emissions and a 28% reduction in Scope 3 emissions by 2030.
DP World's innovative approach is exemplified by its Move to Minus 15°C Coalition.
This initiative aims to raise freezing temperatures in cold chains from -18°C to -15°C, potentially saving energy equivalent to 8.63% of the UK's annual consumption and reducing CO2 emissions by 17.7 million tonnes yearly.
Both organisations are demonstrating that significant emissions reductions are achievable through technological innovation, strategic partnerships, and a commitment to sustainability. Their efforts are not only reshaping their respective industries but also setting new benchmarks for corporate environmental responsibility.
The Global Sustainability & ESG Awards 2024
Thanks to our esteemed panel of industry leaders who judged the awards:
- Adam Elman, Google EMEA
- Angela Hultberg, Kearney
- Steve Smith, Schneider Electric
- Sophie Graham, IFS
- Courtney Holm, The Holm Edit
- Professor Paolo Taticchi. OMRI, UCL School of Management
- Márcia Balisciano, RELX
- Jane Goodland, LSEG
- Rahul Sareen, AWS
- Kevin Dunckley, HH Global
- Alice Spencer, CISL
The full list of awards categories and winners for 2024 is:
- Sustainability Strategy Award – Geopost
- ESG Programme Award – Liverpool FC
- Sustainable Finance Award – Scala Data Centers
- Diversity Award – Mitie
- Net Zero Award – Klarna
- Sustainable Supply Chain Award – UKL
- Sustainable Technology Award – DuPont Water Solutions
- Sustainable Consultancy Award – Forest Carbon
- Future Leader Award – Anastasia Le
- Executive of the Year Award – Preeti Srivastav
- Project of the Year Award – Amazon: The Amazon Global Refugee Challenge
- Lifetime of Achievement Award – Noel Anderson, Chief Sustainability Officer at American Red Cross
- AI in Sustainability Award – Ndustrial
- Social Enterprise Award – UKL
- Start-Up Award – EasyCep
Essential diary dates for 2024 and 2025…
Sustainability LIVE continues to expand its events with more to come in 2024 and 2025, discover our essential diary dates below.
2024 diary dates:
- Sustainability LIVE London | 10-11 September 2024
- Sustainability & ESG Awards | 10 September 2024
- Sustainability LIVE: Climate Week NYC | 24 September 2024
- Sustainability LIVE Malta | 17 October 2024
- Sustainability LIVE: Diversity & Inclusion | 12 November 2024
- NEW | The CSO Network
- NEW | ClimateTech Magazine
- NEW | Scope3 Magazine
2025 diary dates:
- Sustainability LIVE: Net Zero | 5-6 March 2025
- Sustainability LIVE Singapore | 18 March 2025
- Sustainability LIVE Dubai | 22 April 2025
- Sustainability LIVE Chicago | 4-5 June 2025
- Sustainability LIVE London | 9-10 September 2025
- Sustainability & ESG Awards | 10 September 2025
- Sustainability LIVE: DE&I | 11 November 2025
******
Make sure you check out the latest edition of Sustainability Magazine and also sign up to our global conference series - Sustainability LIVE 2024
******
Sustainability Magazine is a BizClik brand
******
