Pennon has received gold standard validation for its ambitious targets to reduce greenhouse gas emissions by the end of March 2033.
The targets include a 68% reduction greenhouse gas emissions from activities owned or controlled by Pennon (Scope 1) and those released as a result Pennon’s consumption of imported electricity (Scope 2).
The targets have been validated by the Science Based Targets initiative (SBTi), a corporate climate action group made up of the Carbon Disclosure Project, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature.
SBTi develop standards, tools and guidance which allow companies to set greenhouse gas emissions reduction targets in line with what is needed to keep global warming below catastrophic levels and reach net zero by 2050 at the latest.
SBTi has classified Pennon’s Scope 1 and Scope 2 greenhouse gas emission target ambition as consistent with reductions that are required to keep global warming to 1.5°C –the most ambitious goal of the Paris Agreement, an international treaty on climate change.
Pennon’s other commitments are for 60% of its suppliers to also have science-based targets by the end of March 2028, and to reduce indirect emissions that are a consequence of the company’s actions – but which occur at sources it does not own or control – by 30% by the end of March 2033. Alongside this, Pennon has also pledged to increase its annual sourcing of renewable electricity to 100% by 31 March 2031
Sarah Williams, Chief Strategy and Regulation Officer at Pennon, said: “I am delighted that our science-based targets have been validated by the SBTi. This represents an important step towards aligning our emissions targets to global best practice, strengthening our ambitions to continue reducing our greenhouse gas emissions and achieving our climate goals over the coming decade.”
