Science-based targets – a yardstick to measuring emissions.

You'd hold climate change responsible, wouldn't you? Quite possible. The phrase and the phenomenon of extreme climate change have been there for a while now. The internet is raining with keywords or catchphrases like global warming, climate change, COP26, and the lastest one being science-based targets.

For us, they are not keywords but warning signs. The more they appear, the higher are the chances that someone in the corner of the world is experiencing weather extremities. And the 'Science-based Targets' isn't a newly devised keyword but the key to measuring and reducing our carbon footprint.

Science Based Targets initiative (SBTi) is a partnership between Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). The SBTi helps companies set their science-based targets along with a well-defined way to lower emissions in accordance with the Paris Agreement on Climate Change. These targets are implemented to decrease greenhouse gas emissions. They are measured on the basis of data from independent climate science. In 2015, the Paris agreement was signed between 195 economies committing to curtail the CO2 emissions for limiting their temperature increase. When the organizations set a higher target to limit their greenhouse gas emissions, it collectively helps the government reach its target.

At Atlas Copco, we constantly monitor the global emission scenario. The current greenhouse gas emission rate is pointing at an average global temperature to rise by 4-6° Celsius by the end of 2099. This can further cause irreversible weather extremities. It means that we need to put more effort and that too sooner. And science-based targets are the means to restrict temperature rise to no more than 1.5°C annually.

We are driven by the intent of being a part of a solution for a sustainable future. It has always inspired us to find new means for lowering our carbon footprints. And with science-based targets, we only further challenge ourselves to develop and deliver solutions that have reduced environmental impact.

Through Science Based Targets initiative, we have our approved science-based targets. These targets include reducing emissions from direct operations and the value chain. We aim to reduce direct operations-related emissions by 46% and value chain-related emissions by 28% by 2030.

At Atlas Copco, we don't just rely on targets set by external agencies. We also conduct audits internally to monitor our emissions. We implemented a year-long project to measure our value chain emissions. We learned about the emissions resulting from energy consumption in manufacturing and office, product-related material or components, use of our products and vehicles. At the same time, we also continue to look for opportunities to reduce our emissions by exploring alternatives. This includes renewable sources of energy, research on carbon-free material and components, shifting to battery-powered tools from pneumatics, and the likes.

Science-based targets act as a catalyst for businesses to reassess their carbon-emission limits. Commitment to SBT earns investors' trust, leverages the brand's reputation, and, most importantly, ensures that we collectively work towards transitioning to a low-carbon society.