As part of our commitment to continued sustainable leadership, environmental impact and accountability, we are proud to be the first company in our space, and among the first companies in the world, to receive approval from the Science Based Targets Initiative (SBTi) for our greenhouse gas emission reduction targets aligned to the Net Zero Standard. The Net Zero Standard is developed by SBTi and is the first global science-based standard for companies to set net-zero targets.
Using our FY22 performance as our baseline, we received approval for three targets:
Overall Net-Zero Target: HH Global has committed to reach net-zero greenhouse gas emissions across the value chain by Financial Year 2040 (FY40).
Near-Term Target: HH Global has committed to reduce absolute scope 1, 2 and 3 GHG emissions 50% by FY30.
Long-Term Target: HH Global has committed to reduce absolute scope 1, 2 and 3 GHG emissions 90% by FY40.
The SBTi is a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science. Their Net-Zero Standard is the world’s only framework for corporate net-zero target setting in line with climate science. It includes the guidance, criteria and recommendations companies need to set science-based net-zero targets consistent with limiting global temperature rise to 1.5°C and 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, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and is one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practices in science-based target setting, offers resources and guidance to reduce barriers to adoption and independently assesses and approves companies’ targets. To learn more about the SBTi, view their FAQ page.
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