AVEVA in World’s First 50 Companies To Have Net-Zero Target Validated By Science Based Targets initiative
London, UK, 10 August, 2022 – AVEVA, a global leader in industrial software, driving digital transformation and sustainability, has become one of the world’s first companies in its sector to have its net-zero commitments validated by the Science Based Targets initiative (SBTi).
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.
Notes to editor:
Greenhouse gas emissions are categorized into three groups or 'scopes' by the most widely-used international accounting tool, the Greenhouse Gas (GHG) Protocol.
[Source: The Carbon Trust]
Scope 1 covers direct emissions from owned or controlled sources, for example fuel combustion and company vehicles
Scope 2 covers indirect emissions from the generation of purchased electricity, steam, heating and cooling consumed by the reporting company.
Scope 3 includes all other indirect emissions that occur in a company’s value chain.
About the Science Based Targets initiative
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.
The initiative 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. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. www.sciencebasedtargets.org
AVEVA is a global leader in industrial software, sparking ingenuity to drive responsible use of the world’s resources. The company’s secure industrial cloud platform and applications enable businesses to harness the power of their information and improve collaboration with customers, suppliers and partners.
Over 20,000 enterprises in over 100 countries rely on AVEVA to help them deliver life’s essentials: safe and reliable energy, food, medicines, infrastructure and more. By connecting people with trusted information and AI-enriched insights, AVEVA enables teams to engineer efficiently and optimize operations, driving growth and sustainability.
Named as one of the world’s most innovative companies, AVEVA supports customers with open solutions and the expertise of more than 6,400 employees, 5,000 partners and 5,700 certified developers. With operations around the globe, we are headquartered in Cambridge, UK and listed on the London Stock Exchange’s FTSE 100.Learn more at www.aveva.com
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