ASSA ABLOY gets its emission reduction targets validated by the Science Based Targets initiative (SBTi)

ASSA ABLOY gets its emission reduction targets validated by the Science Based Targets initiative (SBTi)

(PRESS RELEASE) STOCKHOLM, 16-Nov-2022 — /EuropaWire/ — Assa Abloy AB (STO: ASSA-B), leader in locks, doors, gates, and entrance automation, has announced that it obtained validation from the the Science Based Targets initiative (SBTi), an organization that defines and promotes best practice in science-based target setting, for its emission reduction targets.

In 2020, ASSA ABLOY launched ambitious sustainability goals to substantially reduce its greenhouse gas emissions across the entire value chain, including halving absolute emissions by 2030 and reaching net-zero no later than 2050. The SBTi has now ratified that ASSA ABLOY’s emission reduction targets are in line with the requirements to limit global warming to 1.5°C, which is consistent with the latest climate science and the Paris Climate Agreement. 

“Sustainability will be vital to economic and industrial development in the coming decades. ASSA ABLOY is committed to halving CO2 emissions from our own operations (Scope 1 and 2) by 2030. In addition, we will reduce the footprint of our wider value chain, including raw materials, logistics and products by 28% by 2030, thereby addressing our Scope 3 footprint. We will reach net-zero no later than 2050,” says Nico Delvaux, President and CEO of ASSA ABLOY. ”The ratification of our goals by SBTi demonstrates our ambition to lead our industry towards a more sustainable future.”

“We have robust plans in place to reduce our energy consumption by applying our manufacturing footprint program and energy efficiency measures at our most energy intensive sites. This, combined with increased use of renewable energy, will help us achieve our 50% reduction target compared to the baseline year of 2019. However, more than 98% of our total CO2 emissions in the wider value chain are in our Scope 3 footprint. ASSA ABLOY has committed to reducing its Scope 3 emissions by 28% by 2030. This will be achieved through concrete initiatives to use raw materials more efficiently, utilize low-carbon materials and develop more sustainable solutions,” says Charles Robinson, Director and Head of Sustainability, ASSA ABLOY.

About the Science Based Targets initiative

The Science Based Targets initiative mobilizes companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.

For more information, please contact:
Charles Robinson, Director & Head of Sustainability, tel. no: +353 877 098 583, E-mail charles.robinson@assaabloy.com
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, E-mail: bjorn.tibell@assaabloy.com

About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 51,000 employees and sales of SEK 95 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

SOURCE: ASSA ABLOY