Science Based Targets Initiatives approves Danfoss’ climate targets

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Science Based Targets Initiatives approves Danfoss’ climate targets

Danfoss announced that its science-based target has been approved by the Science Based Targets initiative (SBTi). The SBTi has validated that the corporate greenhouse gas (GHG) emissions reduction targets submitted by Danfoss A/S are in conformance with the SBTi Criteria and Recommendations (version 4.2).

The science-based target provides a clearly defined pathway for companies to reduce GHG emissions in line with the goals of the Paris Agreement and help to prevent the worst impacts of climate change.

The SBTi’s Target Validation Team has determined that Danfoss’ scope 1 and 2 target ambition is in line with limiting warming to 1.5-degree C. As part of the science-based target, Danfoss will reduce absolute scope 1 and 2 GHG emissions by at least 46.2% by 2030 from a 2019 base year. In addition, Danfoss has committed to being carbon neutral in scope 1 and 2 emissions by 2030. Danfoss will reduce absolute scope 3 GHG emissions by 15% in the same time frame.

Danfoss President and CEO Kim Fausing said: “We have built a strong foundation to achieve our science-based target, an important pillar of Danfoss’ new 2030 ESG ambition. Our science-based target expands our GHG emissions reduction goals beyond our own business, across the entire value chain. It reflects our continued dedication to taking action on climate change and becoming the preferred decarbonization partner to our suppliers and customers.”

Ravichandran Purushothaman, President – Danfoss India Region said, ”Through the Science-Based Target initiative (SBTi), we aim to help transform India into one of the most energy-efficient countries in the world. Our integrated energy efficient systems are helping cut down on consumption, reduce carbon footprint and more importantly creating a better tomorrow. Danfoss believes that these initiatives will accelerate India’s decarbonization and Green Transition exponentially.

Martin Rossen, SVP, Head of Group Communication & Sustainability, Danfoss said, “Customers, employees, and the public increasingly demand transparency and reward action on ESG. For good reasons. Companies can’t simply get away with saying that they act, they need to document it. The science-based target provides a level playing field. It gives a competitive edge to the companies that truly care and take action.”

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