Science Based Targets initiative approves Valtech’s Near-term and Net-zero emissions reduction targets
November 21, 2023
In a stride towards a sustainable future, Valtech proudly announces the approval of its near and long-term science-based emissions reduction targets by the Science Based Targets initiative (SBTi).
The SBTi has approved Valtech’s near-term emissions reduction target (2030)
The SBTi has also verified Valtech’s net-zero science-based target by 2040.
Our approved targets and wordings are now live on the SBTi’s website, outlining Valtech's commitment to environmental stewardship with specific objectives:
Valtech’s near-term target is 2030 and means:
A 50% reduction in Scope 1 and 2 emissions
A 55% reduction in Scope 3 emissions per employee
Our net zero target is 2040, by which time we need to achieve:
A 90% reduction in Scope 1 and 2 emissions
A 97% reduction in Scope 3 emissions per employee
Valtech chose to have our targets validated by the SBTi as it is widely considered the global leader in target setting, demanding a high level of rigour and ambition. It is important to Valtech that we hold ourselves publicly accountable as we progress on our emissions journey, as well as ensuring that our targets align to climate science. In accordance with the SBTi’s Corporate Net-Zero Standard, the emissions that remain after we have reduced by 90% and 97% per employee respectively will be neutralized through certified carbon removal or storage solutions.
As Olivier Padiou, Valtech CEO, emphasizes:
There is a huge challenge in front of us as human beings, as we all know, and things need to change. As a large and growing organization, we see it as our responsibility at Valtech to take action – and to encourage a ripple effect amongst our employees, clients, partners and wider sphere of influence.
In this hybrid era, where employees spend some of their time working from home, Valtech is taking a comprehensive approach. Kirstin Howard, Valtech’s Global Sustainability Director explains:
We have included working from home and overnight stays as optional Scope 3 targets within our SBTi commitments, with the same targeted reductions. We decided it was important to include those emissions, as they are a vital part of how Valtech operates as a business, and this reflects today’s way of working.
Our employees play a key role in our Sustainability efforts. We conduct an annual Global Emissions Survey to measure our progress and capture their feedback on Sustainability initiatives. This year, one Valtechie said:
I'm so pleased to be part of a company that takes this responsibility seriously.
and another commented:
I identify with Valtech's position, I hope that all companies and individuals follow their example.
We are proud of what we have achieved so far in Sustainability, but there is no room for complacency. We know there is still much more to do and our SBTi targets will help us keep the laser focus required.