Tag: SBTi

Beko Secures Science Based Targets initiative (SBTi) Validation for 1.5°C Aligned Near-Term and Net-Zero Targets

Stuart Mitchell

Beko, a global leader in home appliances, recently announced that it has received validation from the Science Based Targets initiative (SBTi) for its near and long-term net-zero science-based targets. With the targets designed to deliver ambitious and measurable action on climate change across every industry sector, validation from the SBTi represents a significant environmental milestone for both Beko and the broader home appliance space. Signed in 2016, the Paris Agreement on climate change aims to limit global warming to 1.5°C above pre-industrial levels. Established in 2015, the SBTi is having…

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UK’s biggest electricity distributor’s Net Zero ambitions validated

Stuart Mitchell

UK Power Networks which operates across London, the East and South East, is the first UK electricity network operator to be validated to the SBTi’s Net Zero Standard. To limit the global temperature rise to 1.5°C the SBTi stresses that global emissions have to be halved by 2030 and the world has to achieve net-zero before 2050. Mark Adolphus, director of Health, Safety, Sustainability and Connections at UK Power Networks said: “We realise the urgency of taking action. The latest climate science from the Intergovernmental Panel on Climate Change –…

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ALDI SOUTH Group among the first global grocery retailers to set science-based net-zero targets

Stuart Mitchell

The ALDI SOUTH Group reaches a significant milestone after gaining SBTi approval of new emissions reduction goals. The company now stands as one of the first global grocery retailers to have set science-based Scope 3 net-zero and FLAG greenhouse gas emissions targets, alongside our new 2030 commitment. The Science Based Targets initiative (SBTi), a collaborative body designed to independently assess and promote best practices in science-based target setting, assessed and validated the ALDI SOUTH Group’s new emissions reduction goals following an extensive review. With these ambitious new goals, the ALDI…

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The SBTi Corporate Net-Zero Standard revision expanded to refine approach to neutralization

Stuart Mitchell

The SBTi’s Corporate Net-Zero Standard provides the guidance and tools companies need to set science-based net-zero targets. Version 1 of the Standard was first published in 2021. It states that once companies have achieved their long-term emission reduction target, they must neutralize any residual emissions through permanent removal and storage of CO2 from the atmosphere. The SBTi is currently revising this flagship Standard and has today released an updated project terms of reference with minor adjustments, including the intention to refine the approach to neutralization. The SBTi intends to clarify…

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Ocado Retail’s Net-Zero targets validated by the Science Based Targets initiative

Stuart Mitchell

Ocado.com, the world’s largest dedicated online supermarket, operated by Ocado Retail, is amongst the first grocery retailers to have SBTi-validated targets including those originating from forests, land and agriculture (FLAG). The Science Based Targets initiative (SBTi), a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science, has approved Ocado Retail’s near-term and Net-Zero science-based targets. Our Near-Term Targets: Energy and Industrial:○ Reduce absolute scope 1, 2 and 3 greenhouse gas emissions 42% by FY2030from a FY2021 base year○ Active annual sourcing of…

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