Dubai, United Arab Emirates – AVEVA, a global leader in industrial software, driving digital transformation and sustainability, has become one of the first companies in the world in its sector to have its net zero commitments validated by the Science initiative Based Targets (SBTi).
Released in October 2021, SBTi’s Corporate Net-Zero Standard sets out clear requirements for companies to ensure their goals align with the demands of the international scientific community to decarbonize and limit global warming to 1.5 °C.
AVEVA is committed to:
- maintain at least 90% absolute reductions in Scope 1 and 2 greenhouse gas (GHG) emissions after FY2030 and reduce absolute Scope 3 GHG emissions by 90% by here fiscal year 2050 (from a base year for fiscal year 2020)
- increase the annual supply of renewable electricity to 100% over the next eight years and reduce absolute Scope 3 GHG emissions by 50% by the same period
Peter Herweck, CEO of AVEVA, said: “I am proud that AVEVA is one of the first 50 companies in the world to have validated our net zero goals as being fully aligned with what climate science requires to combat against climate change. It is important to lead by example when it comes to climate action. Our core business is software that helps global industries foster responsible use of global resources, but how we do business matters too and we are committed to decarbonizing our entire value chain.
Luiz Amaral, chief executive of the Science Based Targets initiative, said: “Climate science tells us that we need fast and deep emission reductions if we are to achieve global net zero and prevent the most damaging effects of climate change. climate change. AVEVA’s net zero goals align with the urgency of the climate crisis and set a clear example for their peers to follow.
AVEVA’s global net-zero goal and new long-term greenhouse gas reduction goals build on the company’s ambitious fiscal year 2030 goals, which have also been validated by SBTi as being aligned with climate science. To keep a 1.5°C future within reach, the company moved quickly to ensure that all AVEVA offices are powered by renewable energy by FY22, up from 1% for fiscal year 2020, and is considering efficiency improvements at key sites based on energy consumption. The company has also pledged to fully electrify its vehicle fleet by FY2030.
To reduce downstream Scope 3 emissions associated with the use of AVEVA software, the company is accelerating its cloud strategy by partnering with vendors who are committed to sourcing 100% renewable energy. The company also evaluates the efficiency and power consumption of its software as a step toward integrating requirements into development processes and promoting 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 knowledge and standards.
To combat upstream Scope 3 emissions, including business travel, the company has updated its global travel policies and is working with other companies to accelerate the development and delivery of the next generation of sustainable aviation fuels through the First Movers Coalition. AVEVA works with its key strategic suppliers on measuring and reducing emissions through the CDP supply chain program, the benchmark for environmental reporting. And it engages all data center providers to ensure continued alignment with its climate goals and net zero strategy.
Further information on AVEVA’s climate approach is available on the AVEVA Sustainability website and in the AVEVA 2022 Sustainability Progress Report.
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, e.g. 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 for companies to set ambitious emission reduction targets in line with the latest climate science. It aims to accelerate companies around the world to halve their emissions by 2030 and achieve net zero emissions by 2050.
The initiative is a collaboration between the CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the commitments of the We Mean Business Coalition. SBTi defines and promotes best practices in science-based goal setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves company goals. www.sciencebasedtargets.org
AVEVA is a global leader in industrial software, driving ingenuity to drive responsible use of the world’s resources. The company’s secure industrial cloud platform and applications enable enterprises to harness the power of their information and improve collaboration with customers, suppliers and partners.
More than 20,000 businesses in more than 100 countries rely on AVEVA to help them provide the essentials of life: safe and reliable energy, food, medicine, infrastructure and more. By connecting people with trusted information and AI-enhanced insights, AVEVA empowers teams to effectively design and optimize operations, driving growth and sustainability.
Named one of the world’s most innovative companies, AVEVA supports its customers with open solutions and the expertise of more than 6,400 employees, 5,000 partners and 5,700 certified developers. Operating globally, our head office is in Cambridge, UK, and we are listed on the FTSE 100 of the London Stock Exchange. For more information, visit www.aveva.com
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