Tag: Science Based Targets initiative (SBTi)

Hitachi Vantara Commits to Net-Zero Greenhouse Gas Emissions by FY2040, With SBTi-Validated Targets

Stuart Mitchell

Hitachi Vantara, the data storage, infrastructure and hybrid cloud management subsidiary of Hitachi Ltd. (TSE: 6501), announced its commitment to achieve net-zero greenhouse gas emissions across its global value chain by fiscal year 2040 (FY2040). The company also announced that its near- and long-term science-based emissions reduction targets have been independently validated by the Science Based Targets initiative (SBTi), a global corporate climate action organization that develops standards, tools and guidance for science-based target setting. For more information about Hitachi Vantara’s sustainability efforts, go to: https://www.hitachivantara.com/sustainability For customers and partners,…

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The SBTi updates the Absolute Contraction Approach to improve consistency and implementation, while maintaining net-zero ambition

Stuart Mitchell

The Science Based Targets initiative (SBTi) has updated the Absolute Contraction Approach (ACA)—the methodology companies use to set absolute emissions reduction targets under the Corporate Net-Zero Standard V1.3 and Corporate Near-Term Criteria V5.3. This brings the method into alignment with the methodological direction proposed under the forthcoming Corporate Net-Zero Standard V2.0, supporting a smoother transition for companies to move from Version 1.3 to Version 2.0 over time. The update was processed as an urgent revision, following approval by the SBTi’s independent Technical Council. The refinement of the Absolute Contraction Approach…

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Ocean’s climate targets are validated by the Science Based Targets initiative (SBTi)

Stuart Mitchell

Ocean has reaffirmed its mission to help deliver a net zero economy, supported by the Science Based Targets initiative (SBTi) which has validated Ocean’s climate targets to reduce greenhouse gas (GHG) emissions. The SBTi has approved Ocean’s near-term science based emissions reduction target which will see Ocean will reduce its carbon emissions by 42% by 2030 and reach net zero by 2040. Joining the SBTi ensures that Ocean’s climate action work is in line with the latest science. Taken with the company’s ISO14001 certification, it demonstrates Ocean’s commitment to actively participate in the…

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SBTi Calls on Companies to Test Draft Automotive Sector Net-Zero Standard

Stuart Mitchell

The Science Based Targets initiative (SBTi) is inviting automakers and auto parts manufacturers to pilot test its draft Automotive Sector Net-Zero Standard—a unique opportunity to demonstrate credible climate leadership and a key step to help shape the industry’s pathway to net-zero emissions. The draft Automotive Sector Net-Zero Standard is a new, comprehensive framework designed for automakers and auto parts manufacturers to set greenhouse gas emissions reduction targets in line with what is needed to achieve net-zero emissions by 2050 at the latest. It builds on key elements of the Land…

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227% jump in companies setting comprehensive climate targets as corporate climate planning accelerates

Stuart Mitchell

The Science-Based Targets initiative (SBTi) today published the SBTi Trend Tracker – the first in a new approach to exploring key SBTi data insights – finding that the number of companies setting near-term science-based targets has nearly doubled (97% growth) in just 18 months, while businesses going further in their ambition by setting both near-term and net-zero targets more than tripled (227% growth) across the same period. The trend toward comprehensive climate ambition is reflected in the rapidly rising proportion of corporates with both near-term and net-zero targets. At the…

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