Frazer-Nash is delighted to announce that its near and long-term science-based emissions reduction targets have been approved by the Science Based Targets initiative (SBTi).
The SBTi defines and promotes best practice in science-based target setting, offers guidance to reduce barriers to adoption, and ensures companies’ plans are in line with the Paris Agreement goals of limiting global warming to 1.5°C.
Frazer-Nash made a formal commitment to a net-zero carbon future in March 2021 when it signed an agreement with the SBTi, to reduce its business greenhouse gas emissions in line with climate science.
Frazer-Nash has the following science-based targets approved:
Overall target
- To reach net-zero Greenhouse Gas (GHG) emissions across the value chain by 2040.
Near-term targets
- To reduce absolute scope 1 and 2 GHG emissions 90% by 2030 from a 2022 base year*.
- To reduce absolute scope 3 GHG emissions 50% within the same timeframe*.
Long-term targets
- To maintain at least 90% absolute scope 1 and 2 GHG emissions reductions from 2030 through 2040 from a 2022 base year.
- To reduce absolute scope 3 GHG emissions 90% by 2040 from a 2022 base year.
* The target boundary includes land-related emissions and removals from bioenergy feedstocks.
Nial Greeves, Energy Director at Frazer-Nash said:
“I’m proud that we’ve followed through on our commitment to a net-zero future by having our science-based targets independently assessed and approved by the Science Based Targets initiative. This approval empowers us to enact our decarbonisation work at Frazer-Nash to adhere to these targets. We’re applying our deep wealth of low carbon and decarbonisation expertise inwardly to join the effort to help limit a global temperature rise to 1.5C.”
If you want to find out more about the support and expertise Frazer-Nash can provide to your organisation on decarbonisation and low-carbon alternatives, please contact Ian Tarplee.
