As part of its long-standing and ongoing commitment to sustainability, SAP has joined the LEAF Coalition (Lowering Emissions by Accelerating Forest Finance) in support of the fight against climate change. The announcement came during the World Leaders Summit on November 2, 2021, part of the 26th UN Climate Change Conference of the Parties (COP26).
SAP is an active participant in the conference, which brings together government and business leaders, international organizations, and other stakeholders in a common cause to accelerate action toward combatting climate change.
LEAF is a voluntary global coalition made up of private-sector businesses and governments to provide finance for tropical and subtropical forest conservation. With US$1 billion mobilized already, LEAF is on track to become one of the largest ever public-private efforts to protect tropical forests. SAP will contribute $2.2 million to the LEAF Coalition as it works to reverse deforestation in vulnerable areas and help achieve the goals of the Paris Agreement to combat climate change. As natural carbon sinks and biodiversity treasures, forests are essential for all life on earth and play an important role in mitigating global temperature rise.
“We are committed to being part of the solution to climate change,” says Luka Mucic, CFO and member of the Executive Board of SAP SE. “As we accelerate our transformation to be a net-zero company, we continually look for ways to avoid, reduce, and, if needed, compensate emissions. No company or country alone, however, will turn the tide on climate change. So, it is also our priority to collaborate. That’s why we’re excited to join forces and accelerate action as part of the LEAF Coalition. We’re confident that our investment will support nature-based solutions benefitting the environment, biodiversity, and local communities.”
SAP strives to be a leading example of sustainable business practices – its financial support of LEAF is just one part of the company’s holistic efforts to fight climate change and restore ecosystems. Since 2009 SAP has aggressively pursued cuts to its own business carbon footprint with a goal of being carbon neutral by the end of 2023 while in parallel continuing its efforts to meet a science-based target to limit global temperature rise to 1.5 degrees Celsius. In addition to LEAF, SAP also supports the 1t.org initiative to conserve, restore, and grow one trillion trees by 2030. The company pledges to plant 21 million trees by the end of 2025 while continuing to drive carbon-reducing innovations and pursue a science-based climate target. SAP’s efforts also include active participation in a variety of other funds and initiatives.
And, as a leading provider in enterprise application software, SAP is also uniquely qualified to help customers optimize their sustainability performance not only in their own company but across their entire value chain. SAP technology helps organizations measure and understand their efforts relating to climate protection, diversity and inclusion, ethical responsibility, and more.
“Sustainability directly links to SAP’s purpose of helping the world run better and improving people’s lives,” says SAP Chief Sustainability Officer Daniel Schmid. “This means creating positive economic, environmental, and social impact. To live up to this ambition, SAP provides customers with products and services that help meet their sustainability opportunities and challenges. We also lead by example and strive to be a role model for sustainable operations and investments.”
In recognition of its efforts to drive innovation and action toward the creation of genuinely sustainable markets, SAP was recently awarded the Terra Carta Seal. The seal is awarded to companies whose ambitions are aligned with those of the Terra Carta, a recovery plan for Nature, People, and Planet, by His Royal Highness The Prince of Wales.