AVEVA in World’s First 50 Companies To Have Net-Zero Target Validated By Science Based Targets initiative
Issued in October 2021, the SBTi’s Corporate Net-Zero Standard, sets out clear requirements for companies to ensure their goals align with the requirements of the international scientific community to decarbonize and limit global warming to 1.5°C.
AVEVA has committed to:
- maintain at least 90% absolute scope 1 and 2 greenhouse gas (GHG) emission reductions post FY2030 and to reduce absolute scope 3 GHG emissions 90% by FY2050 (from a FY2020 base year)
- increase annual sourcing of renewable electricity to 100% in the next eight years and reduce absolute scope 3 GHG emissions 50% by the same time frame
Peter Herweck, CEO of AVEVA, said: “I am proud that AVEVA is one of the first 50 companies globally to have our net-zero targets validated as being fully aligned with what climate science requires to fight climate change. It is important to lead by example on climate action. Our core business is software that helps global industries drive responsible use of the world’s resources but how we do business also matters and we are committed to decarbonizing our entire value chain.
Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative, said: “Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change. AVEVA’s net-zero targets match the urgency of the climate crisis and set a clear example that their peers must follow.”
AVEVA’s overall net-zero target, and new long-term greenhouse gas reduction targets build on the company’s ambitious FY2030 targets, which have also been validated by SBTi as aligned with climate science. To keep a 1.5°C future in reach the company has moved quickly to ensure all AVEVA offices are powered by Renewable Energy as of FY2022, up from 1% in FY2020, and is scoping efficiency upgrades across top sites by energy consumption. The company has also committed to fully electrify its car fleet by FY2030.
To reduce downstream scope 3 emissions associated with the use of AVEVA software, the company is accelerating its cloud strategy in partnership with providers that have committed to 100% renewable energy sourcing. The company is also benchmarking the efficiency and energy consumption of its software as a step toward building requirements into development processes and fostering green product design principles. Additionally, last year AVEVA joined the Green Software Foundation to contribute to an industry-wide reduction in carbon emissions through shared learnings and standards.
To address upstream scope 3 emissions, including from business travel, the company has made updates to its global travel policies and is collaborating with other companies to accelerate the development and delivery of the next generation of sustainable aviation fuels through the First Movers Coalition. AVEVA is working with its top strategic suppliers on emissions measurement and reduction through the CDP supply chain program, the gold standard of environmental reporting. And it is engaging all data center providers to ensure ongoing alignment with its climate goals and net-zero strategy.
More information on AVEVA’s climate approach is available on the AVEVA sustainability website and in the AVEVA 2022 Sustainability Progress Report. https://www.aveva.com/en/about/sustainability/esg-reporting/2022-sustainability-progress-reports/