ASSA ABLOY announced that its greenhouse gas emission reduction targets have been ratified by the Science Based Targets initiative (SBTi).
Science-based targets show companies how much and how quickly businesses need to reduce their GHG emissions to prevent the worst impacts of climate change, leading them on a clear path toward decarbonization. ASSA ABLOY’s emission reduction targets are in line with the requirements to limit global warming to 1.5°C, which is consistent with the latest climate science and the Paris Climate Agreement.
In 2020, ASSA ABLOY launched ambitious sustainability goals to substantially reduce its greenhouse gas emissions across the entire value chain, including halving absolute emissions by 2030 and reaching net-zero no later than 2050.
The ratification of the company’s emissions goals demonstrates its ambition to lead the security industry toward a more sustainable future, explained Nico Delvaux, president and CEO of ASSA ABLOY.
“Sustainability will be vital to economic and industrial development in the coming decades. ASSA ABLOY is committed to halving CO2 emissions from our own operations [Scope 1 and 2] by 2030,” he said. “In addition, we will reduce the footprint of our wider value chain, including raw materials, logistics and products by 28% by 2030, thereby addressing our Scope 3 footprint. We will reach net-zero no later than 2050.”
Charles Robinson, director and head of sustainability, ASSA ABLOY, said the company has robust plans in place to reduce energy consumption by applying its manufacturing footprint program and energy efficiency measures at its most energy intensive sites. This, combined with increased use of renewable energy, will help the company achieve its 50% reduction target compared to the baseline year of 2019.“However, more than 98% of our total CO2 emissions in the wider value chain are in our Scope 3 footprint,” he continued. “ASSA ABLOY has committed to reducing its Scope 3 emissions by 28% by 2030. This will be achieved through concrete initiatives to use raw materials more efficiently, utilize low-carbon materials and develop more sustainable solutions.