Climate change is predicted to increasingly pose a risk to our planet and to our business. Extreme weather events and heat will make it harder for our key agricultural commodities to grow, increase the difficulty of getting our finished goods to market, and create difficulties in our consumers’ abilities to get to stores and even our own employees’ ability to get to work (think of shopping or commuting during a blizzard or hurricane or even how the present-day COVID-19 pandemic has changed our world).
As businesses around the world continually grow more accountable for their environmental impacts -- both out of their own pragmatic motivations, and increasing pressure from customers, investors, and governments -- science-based targets are becoming a key focus.
July 22, 2020 - Canary Wharf Group (CWG) has set out an ambitious environmental strategy for the next decade, including launching new emissions targets aligned with the demands of science to hold off climate impact. These ambitious targets, approved by the Science Based Targets Initiative, are in line with achieving a 1.5°C future and will be followed by a net zero pathway to be published later in 2020.
May 19, 2020 - NRG Energy Inc. (NYSE:NRG) today released its 2019 Sustainability Report, providing an update on the Company’s comprehensive sustainability strategy. NRG demonstrated advancement across all of its previously announced sustainability initiatives, including a 41% reduction in carbon emissions, marking significant progress towards its newly accelerated, science-based target of reducing emissions 50% by 2025, and net-zero by 2050, from a 2014 baseline.
Other notable accomplishments included in the report:
We’ve long known that our business relies on ingredients that come from a healthy earth. That is why we are strengthening our environmental efforts and moving toward science-based targets to reduce our impact on the planet.
Businesses have long recognized the need to decarbonize operations through setting GHG emission reduction targets, but these goals are typically short-term and incremental in nature – usually based on past performance or regulatory requirements. Science-Based Targets (SBTs) are far more ambitious and go beyond current legislation. They are aligned with climate science and stated aims of the Paris Climate Agreement. Their time horizon is longer (up to 2050) and require more aggressive cuts in emissions.
50% by 2025 and Achieving Net-Zero Emissions by 2050, from a 2014 Baseline
PRINCETON, N.J., Sep. 30, 2019 /3BL Media/ - NRG Energy, Inc. (NYSE: NRG) announced the acceleration of its sector-leading science-based GHG emissions reduction goals to align with new Intergovernmental Panel on Climate Change (IPCC) guidance, which calls for limiting global warming to a 1.5˚ Celsius increase. Under its new GHG emissions reduction timeline, NRG expects to reach its 50% reduction target five years early and achieve net-zero emissions by 2050, surpassing its original goal of a 90% reduction.
PARIS, September 23, 2019 /3BL Media/ – Sodexo, world leader in Quality of Life services, confirmed its objective to reduce its carbon emissions by 34% by 2025 (base year 2017) with approval from the Science Based Targets initiative, joining the global movement of leading companies aligning their businesses with the most ambitious aim of the Paris Agreement, to limit global temperature rise to 1.5°C above
One of the world’s top chocolate companies shared new plans for reducing its impact on the planet – including committing to set Science-Based Targets. But what sets Hershey apart from its peers is not this commitment. It’s the journey behind how it got here.
Leading up to today’s announcement, a lot happened behind the scenes - data was collected, numbers were crunched and methodologies chosen. It required time, human capital and expertise.