Sphera's Near-Term Science-Based Emissions Reduction Target Receives SBTi Validation
SBTi validation underscores Sphera's commitment to global decarbonization and minimizing its own environmental impact
CHICAGO, April 29, 2024 /PRNewswire/ -- Sphera, a leading global provider of environmental, social and governance (ESG) performance and risk management software, data and consulting services, has received validation of its Scope 1 and 2 greenhouse gas emissions (GHG) reduction target from the Science Based Targets initiative (SBTi), in line with a 1.5°C trajectory.
The target applies to Sphera's direct operations, with a commitment to reduce its absolute scope 1 and 2 GHG emissions by 60.5% by 2030 using 2019 as the base year. In 2019, Sphera's GHG footprint equaled 8,582 tons of carbon dioxide equivalent. As outlined in Sphera's most recent ESG Report, total GHG emissions have already been reduced by 19%.
"In order to be successful in today's business environment, organizations must be action-oriented in developing and improving the sustainability of their operations and services," said Sphera's CEO and President Paul Marushka. "As such, we are not only committed to supporting our customers in achieving their emissions reduction targets but also to minimizing our own carbon footprint. We are proud of the SBTi approval of our near-term, science-based emissions reduction target, and it demonstrates Sphera's ongoing dedication to creating a safer, more sustainable and productive world."
As part of today's announcement and Sphera's dedication to global decarbonization, the firm also commits:
- To reducing absolute Scope 3 GHG emissions from fuel and energy-related activities, waste generated in operations and employee commuting by 46.2% from our 2019 baseline by 2023.
- That 60.7% of its suppliers by emissions covering purchased goods and services and business travel will have science-based targets by 2028.
This validation from the SBTi is a crucial step in the transition to a zero-carbon economy. As part of the firm's ongoing commitment to sustainability, Sphera reports its emissions in line with requirements outlined by the Greenhouse Gas (GHG) Protocol. Additionally, Sphera reports in reference to the standards of the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the U.N. Global Compact (UNGC) and its Sustainable Development Goals (SDGs).
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About Sphera
Sphera is the leading provider of environmental, social and governance (ESG) performance and risk management software, data and consulting services focusing on Environment, Health, Safety & Sustainability (EHS&S), Operational Risk Management (ORM), Product Stewardship and Supply Chain Transparency. For more than 30 years, we have served over 8,400 customers and a million-plus users in 95 countries to help companies keep their people safe, their products sustainable and their operations productive. Learn more about Sphera at www.sphera.com. Follow Sphera on LinkedIn.
About SBTi
The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. The SBTi develop standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. The SBTi is incorporated as a charity, with a subsidiary which hosts target validation services. The SBTi's partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
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SOURCE Sphera
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