Lenovo Receives Approval from Science Based Targets Initiative…
Lenovo Receives Approval from Science Based Targets Initiative for Next Generation Emission Reduction Targets.
Lenovo is setting ambitious goals to decrease greenhouse gas emissions throughout its operations and value chain. Lenovo is proud to have exceeded its 2020 goals (set in 2010) to reduce scope 1 and 2 emissions by 40%, exceeding both the targeted reduction and deadline for completion when emissions were reduced by 92% in 2019.
Now, Lenovo has set plans to reduce its scope 1 and 2 greenhouse gases—the emissions it has the most direct control over—by a further 50% by 2030 and has developed intensity emission targets for three key categories of our scope 3 emissions. (See infographic below for more information on scope 1, 2, and 3 emissions.)
In order to set aggressive goals for the future and contribute to a wider body of collaborative data to understand and limit climate change, Lenovo submitted their 2030 goals to the Science Based Targets initiative (SBTi), a collaborative effort to limit the growth of climate change, led by CDP, the UN Global Compact, World Resources Institute, and the World Wild Fund for Nature. SBTi reviewed Lenovo’s goals against their feasibility and contribution to limiting the warming of the Earth’s surface temperature. Companies submitting science based targets for approval only need to commit to limiting warming to well-below 2 degrees Celsius above pre-industrial levels; Lenovo chose to make a more aggressive commitment with scope 1 and 2 goals that contribute to limit warming to no more than 1.5 degrees Celsius above pre-industrial levels in an effort to prevent the worst impacts of climate change. Additionally, Lenovo’s reduction targets for scope 3 emissions meet SBTi’s criteria for ambitious value chain goals, meaning they are in line with current best practices.
With SBTi’s approval, Lenovo will be contributing to limiting climate change alongside 937 other companies from across multiple industries that are taking science-based climate actions. Companies engaged with SBTi can also look to receive meaningful business benefit from increased sustainability, including the following insights from participating company executives:
– 63% stated that their commitment to science-based targets has increased innovation,
– 55% claimed a gain in competitive advantage,
– 52% observed a boost in investor confidence, and
– 35% noted an increase in regulatory resilience for their companies’ operations.
“I am proud of our company’s efforts to continue improving the sustainability of our operations. We look forward to achieving our goals with the Science Based Targets initiative,” said John Cerretani, Lenovo VP, Deputy General Counsel, and Chief Corporate Responsibility Officer.
Approval from SBTi will allow Lenovo to continue improving its environmental, social, and governance (ESG) operations. In 2019, Lenovo was honored with Leadership Level recognition from CDP, received a perfect score from the Human Rights Campaign Equality Index, and also received a Best Corporate Governance Award from the Hong Kong Institute of Certified Public Accountants.
Look for more details on Lenovo’s sustainable efforts in the upcoming FY2019/20 Lenovo ESG Report.
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