Global security solutions specialist Gunnebo has announced that the Science Based Targets initiative (SBTi) has approved Gunnebo’s near and long-term science-based emissions reduction targets on 30 October 2024.
Global security solutions specialist Gunnebo has announced that the Science Based Targets initiative (SBTi) has approved Gunnebo’s near and long-term science-based emissions reduction targets on 30 October 2024.
Gunnebo’s approved science-based targets will be published on SBTi’s website on 28th November. For full transparency, they are as follows:
- Overall net-zero target: Gunnebo commits to reaching net-zero greenhouse gas emissions across the value chain by 2050.
- Near-term targets: Gunnebo commits to reduce absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2022 base year*. Gunnebo also commits to reduce scope 3 GHG emissions 52% per thousand EUR value added within the same timeframe.
- Long-term targets: Gunnebo commits to reduce absolute scope 1, 2 and 3 GHG emissions 90% by 2050 from a 2022 base year*.
*The target boundary includes land-related emissions and removals from bioenergy feedstocks. Fredrik Fors, General Counsel & SVP Sustainability at Gunnebo, comments. “The approval of our science-based targets is a key milestone for our sustainability efforts as we join the ranks of over 5,000 companies that have taken this step. This is just the beginning, and we are committed to progressing in the right direction.”
Although Gunnebo’s verified net-zero science-based target is set for 2050, Gunnebo has an ambitious aim to reach net zero already by 2045. This will require sustained decarbonization actions with a long-term perspective and close coordination with stakeholders.
Per Hökfelt, Head of Sustainability at Gunnebo, adds: “It is my sincere hope that more companies, especially our stakeholders, will choose to align with climate science by also committing to science-based 1.5°C and net-zero targets. Let’s all be part of the solution and go on a decarbonization journey together, supporting each other and realizing synergies along the way.”
Gunnebo has set an economic intensity target for 2030 to reduce scope 3 GHG emissions as part of its near-term science-based targets. This target measures tonnes of fossil carbon against profit.
John Afzelius, Group CFO at Gunnebo, explains: “Our goal is not just to reduce our carbon footprint linearly. We aim to decarbonize our business model by decoupling profit from fossil resources. This is why we set an economic intensity target for Gunnebo that will drive this effort. I’m confident that this target puts on a path to sustainable and improved profitability.”