Many targets are calling for net zero emissions by 2050, and with this being in three decades’ time, some suggest this timeline ignores the short-term accountability.
In addition, there are concerns over the ‘different meanings and metrics’ being applied to emissions reductions and net zero targets. This has led to a new voluntary standard for corporate net zero targets from the Science Based Targets initiative (SBTi), that helps companies to reduce their emissions in line with climate science. This voluntary standard ‘independently assesses and approves companies’ targets in line with its strict criteria’. The standard helps to ensure participating companies ‘can get net-zero right’, by clearly demonstrating deep decarbonization of 90-95%, short and long-term targets to halve emissions by 2030, emission reductions of at least 90-95% by 2050, and going beyond the value chain. So, not only are industries accepting the heavy burden, but now need to find short-term, credible, economical solutions that line up with climate science. This might seem like an impossible task, yet with TEI’s solutions being ‘both technologically possible and economically attractive', six of the company’s eight key corporate accounts have set emissions reduction targets through the Science Based Targets initiative (SBTi) with confidence. The following table illustrates one of the many real projects delivered to each of the six corporate accounts referenced above:
Combined, these projects reduce CO2 emissions by 54,088 metric tonnes per year.
Our customers have trust in our ability to provide energy savings and emission reduction projects with impressive ROIs, time and time again. Combined, our eight corporate accounts have approximately 800 manufacturing sites worldwide, enabling us to continue delivering immediate and credible savings across their business in line with their aggressive targets.
The fact our customers’ efforts have been accepted by the strict Science-Based Targets initiative (SBTi) standard, is a testament to our expert solutions and delivery that made a contribution to the acceptance.