The Science Based Targets initiative or SBTi, a collaboration between CDP, the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature, approved Metso’s greenhouse gas emission targets.
According to Metso, its commitments involve a 25% reduction in carbon emissions in production by 2030, something the company plans to achieve by investing in renewable energy and improving the energy efficiency of the production processes.
The SBTi champions science-based target setting as a way of boosting companies’ competitive advantage in the transition to the low-carbon economy
“Metso demands sustainability not only of its own production but also 30% of its suppliers in terms of spend are required to set science-based emission targets by 2024. By streamlining transportation routes and optimizing warehouse locations, Metso aims for a 20% reduction in transportation emissions by 2025,” the industrial machinery firm said in a media statement.
Metso also reported that through extensive research and development work, it has been able to reduce the energy consumption in customer processes and it plans to continue on this path in order to achieve, in five years, a 10% reduction in GHG emissions in the most energy-intensive customer processes.
More ambitiously, the Finnish company plans to offset flight emissions by 100% by 2021 and continue to find new ways to decrease emissions, for example, in offices.
“We are extremely happy about the ratification of our science-based CO2 emissions targets,” Metso’s president and CEO, Pekka Vauramo, said in the press brief. “Our Climate Program is an important step in our goal of reducing greenhouse gas emissions. It is also an essential element in Metso being a responsible and trusted partner to our customers. We aim to improve our customers’ productivity in a sustainable manner, and we involve all our stakeholders in reaching this goal.”