“We are very pleased to have received the approval of our science-based net zero target by SBTi. We set our climate ambitions in line with the latest climate science from the IPCC to limit warming to 1.5 degrees, requiring
Our commitment:
Near-Term Targets (from a 2019 base year)
Scatec commits to reduce absolute scope 1 GHG emissions 95% by 2030.Scatec commits to increase annual sourcing of renewable electricity to 100% by 2030 (scope 2).Scatec commits to reduce scope 3 GHG emissions 55% per kWh by 2030.
Long-Term Targets (from a 2019 base year)
Scatec commits to maintain at least 99% absolute scope 1 and 2 GHG emissions reductions from 2030 through 2040.Scatec commits to reduce scope 3 GHG emissions 97% per kWh by 2040.
“During 2022, we focused on internal communication of the climate targets, integrating climate requirements into existing development and procurement processes, as well as identifying and analysing emission reduction activities across the existing project portfolio. Our net zero strategy details key initiatives within scope 1, 2 and 3 to reach these targets, and we are ready to do the work needed to reach these ambitions,” says Scatec EVP Sustainability, HSSE & Quality
Scatec’s Scope 1 emissions comprise fuel for vehicles and generators, and emissions from electrical equipment on project sites. Scope 2 emissions include electricity usage from the grid for operations and maintenance buildings, corporate offices, and auxiliary services. Scatec’s most material Scope 3 categories include the purchase of components, upstream transportation, and hydropower investments. In 2019, Scatec’s emissions (CO2e) were: 1,987 tonnes in scope 1, 6,669 tonnes in scope 2 (market-based), and 345,035 tonnes in scope 3.
The Science Based Targets initiative has verified Scatec’s net-zero science-based targets by 2040. The Target Validation Team concluded that the near and long-term targets against the SBTi net-zero criteria are in line with a 1.5°C trajectory.
The initiative is a collaboration between the CDP, the United Nations Global Compact,
Find out more about our climate efforts in our Net Zero Strategy and our digital ESG Performance Report 2022, both published today.
For further information, please contact:
For analysts and investors: Andreas Austrell, VP IR, phone: +47 974 38 686, andreas.austrell@scatec.com
For media:
About Scatec
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