Cargotec has committed to the United Nations Global Compact’s Business Ambition for 1.5°C and set ambitious science-based greenhouse gas emission reduction targets to address the impacts of both its own operations and the value chain. The targets have been officially approved by the Science Based Targets Initiative.
The 1.5°C ambition is a response to an increasing concern about the severe consequences of a failure to stop global warming. By setting these climate targets, we strive to mitigate climate change through making the logistics industry more efficient and developing solutions to enable a low-carbon economy. Our targets have been validated and approved to be in line with the latest climate science to limit global warming to 1.5 degrees, which is the most ambitious goal of the Paris Agreement.
The Science Based Targets initiative has approved the target to reduce Cargotec’s absolute scope 1, 2 and 3 greenhouse gas emissions 50 percent from a 2019 base year by 2030. Cargotec’s goal is to become carbon neutral in its own operations, which goes beyond the required ambition level of the Science Based Targets initiative. Moreover, since more than 95 percent of the emissions occur in Cargotec's value chain (from raw material sourcing and use-phase of sold products), setting the 50 percent reduction target in that area is vital to tackling climate change.
Cargotec’s commitment is to reduce the absolute emissions:
- Make our own operations carbon neutral (net zero emissions) by 2030
- Reduce Scope 3 (value chain) emissions at least 50 percent from the 2019 levels by 2030
We are proud and excited to start this journey and contribute to the global efforts of safeguarding the environment, while at the same time also taking this as an business opportunity to make the logistics industry more efficient and provide solutions to enable a low-carbon economy.
About the Science Based Targets initiative
Science Based Targets initiative mobilises companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The initiative defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.