GlobalConnect’s sustainability targets now approved by SBTi
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GlobalConnect group has now been approved by theScience Based Targets initiative (SBTi) committing to reducing its absolute carbon emissions by 42%.
‘This is a great milestone for GlobalConnect. In 2022 we were extending our ambitious climate ambitions by pledging to reduce its Scope 1, 2 and 3 emissions between now and 2030. We are determined in our work to reduce our greenhouse gas emissions, and we will measure and broaden our understanding about where our emissions come from,” says Martin Lippert, CEO in GlobalConnect.
By this, GlobalConnect commits to reduce scope 1 and 2 emissions – aligned with the UN ambition of limiting global warming. GlobalConnect also commits to decarbonization in the value-chain by working across Scope 3. In addition, by linking GlobalConnect groups ESG performance to its Loan Agreement, the Group accelerated its ambitions to be a preferred place to work and connectivity partner.
“Sustainability targets must never be ‘just words’. Action is necessary and we consider this achievement as an important and necessary step in our sustainability journey. Committing to this agenda by formally being a part of the Science Based Target initiative is not only important for us as a company right now, but the company we want to become in the future as well. This goes very well hand-in-hand with our Sustainability Linked Loan agreement as well, showing that we put actions behind our words.” Sofia Lisa Dinesen, SVP of Strategy, M&A and Sustainability in GlobalConnect, says.
The most significant SBTi targets for GlobalConnect are as follows:
- Scope 1: Absolute linear reduction of 42% by 2030
- Scope 2: Renewable Electricity of 100% every year
- Scope 3: Absolute linear reduction of 25% by 2030
As 98% of GlobalConnect’s emissions fall within Scope 3, the total reduction is close to 25%. This translates to approx. 19,700 tons CO2 reduction yearly until 2030 – not including the growth of the company.
The reduction is equivalent to 3,833 homes’ electricity use for one year according to EPA (Environmental Protection Agency). For more comparisons see the Greenhouse Gas Equivalencies Calculator by EPA: https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator#results
*) Scope definitions
Scope 1 emissions Scope 1 covers emissions from sources that an organisation owns or controls directly – for example from burning fuel in our fleet of vehicles (if they’re not electrically-powered).
Scope 2 emissions Scope 2 are emissions that a company causes indirectly and come from where the energy it purchases and uses is produced. For example, the emissions caused when generating the electricity that we use in our buildings would fall into this category.
Scope 3 emissions Scope 3 encompasses emissions that are not produced by the company itself and are not the result of activities from assets owned or controlled by them, but by those that it’s indirectly responsible for up and down its value chain. An example of this is when we buy, use and dispose of products from suppliers. Scope 3 emissions include all sources not within the scope 1 and 2 boundaries.