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AVEVA net-zero target validated by Science Based Targets initiative
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VEVA , a global provider of industrial software , driving Digital Transformation and sustainability , has become one of the world ’ s first companies in its sector to have its net-zero commitments validated by the Science Based Targets initiative ( SBTi ).
Issued in October 2021 , the SBTi ’ s Corporate Net-Zero Standard , sets out clear requirements for companies to ensure their goals align with the requirements of the international scientific community to decarbonise and limit global warming to 1.5 ° C . AVEVA has committed to :
• Maintain at least 90 % absolute scope 1 and 2 greenhouse gas ( GHG ) emission reductions post FY2030 and to reduce absolute scope 3 GHG emissions 90 % by FY2050 ( from a FY2020 base year )
• Increase annual sourcing of renewable electricity to 100 % in the next eight years and reduce absolute scope 3 GHG emissions 50 % by the same time frame
Peter Herweck , CEO , AVEVA , said : “ I am proud that AVEVA is one of the first 50 companies globally to have our net-zero targets validated as being fully aligned with what climate science requires to fight climate change . It is important to lead by example on climate action . Our core business is software that helps global industries drive responsible use of the world ’ s resources but how we do business also matters and we are committed to decarbonising our entire value chain .”
Luiz Amaral , CEO , the Science Based Targets initiative , said : “ Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change . AVEVA ’ s net-zero targets match the urgency of the climate crisis and set a clear example that their peers must follow .”
AVEVA ’ s overall net-zero target , and new long-term greenhouse gas reduction targets build on the company ’ s ambitious FY2030 targets , which have also been validated by SBTi as aligned with
Peter Herweck , CEO , AVEVA
climate science . To keep a 1.5 ° C future in reach the company has moved quickly to ensure all AVEVA offices are powered by Renewable Energy as of FY2022 , up from 1 % in FY2020 , and is scoping efficiency upgrades across top sites by energy consumption . The company has also committed to fully electrify its car fleet by FY2030 .
To reduce downstream scope 3 emissions associated with the use of AVEVA software , the company is accelerating its cloud strategy in partnership with providers that have committed to 100 % renewable energy sourcing . The company is also benchmarking the efficiency and energy consumption of its software as a step towards building requirements into development processes and fostering 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 learnings and standards . •
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