104 V I EWPO I NT Science-based targets can help to tackle climate change, but they must be supported by businesses building a network of like-minded partners who take action too L I S A WE E : AV E VA Corporations around the world are driving a fundamental shift in how business is done, increasingly prioritising the well-being of people and the health of the planet alongside value goals. According to Zerotracker.net’s Net Zero Tracker, some 750 of the world’s leading companies in 198 countries have outlined net-zero targets aimed at bringing greenhouse gas (GHG) emissions to as close to zero as possible. Recent weather-related catastrophes in nearly every of one those countries in recent years have made it clear that the window for climate action is closing fast. For example, rivers dried up in France, Switzerland and the Netherlands in summer 2022, and unprecedented forest fires have raged across Australia, Brazil and the USA over the past few years. Elsewhere, countries have been dealing with record rainfall, widescale floods – and a terrible loss to life. In this context, business should play a much more significant role. Industry accounts for a quarter of GHG emissions according to the International Energy Agency’s Net Zero by 2050 report. So, it’s fitting that many in the corporate sector are committing to reducing GHG emissions in line with the goals of the Paris Agreement. As of 2021, 80 per cent of companies reported on sustainability, according to KPMG. And AVEVA’s own research confirms that more than 90 per cent of business leaders now see tackling climate change as a core business responsibility. AVEVA’s philosophy has been to lead by action in reducing our GHG footprint across scopes one, two and three. As laid out in our Sustainability Progress Report 2022, AVEVA aims to achieve net zero across our operations (scopes one and two) by 2030, with no more than 10 per cent offsets. We have also pledged to reduce our value chain emissions (scope three) by 50 per cent within the same timeframe. Our net-zero targets have now been validated by the Science Based Targets initiative (SBTi). It’s a partnership between CDP (formerly the Carbon Disclosure Project, which runs the global environmental disclosure system for businesses and subnational governments), the United Nations Global Compact and other organisations. In essence, the SBTi urges the private sector to take necessary climate action and set ambitious emission reduction targets. AVEVA is the first software company in Europe and one of the first organisations worldwide to receive the SBTi validation for a net-zero pledge. This formal declaration reflects the credibility of our targets and verifies their alignment to the Paris Agreement goal of limiting global temperature rises to 1.5C above pre-industrial levels. Already, we are making visible progress on those goals. All our offices are now powered by “Only collective action can rein in GHG emissions and stave off the worst effects of climate change” Why collaboration is key for achieving net zero
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