NOVENCO® joins the Science-Based Targets initiative to strengthen climate commitment
NOVENCO Building & Industry’s ambition is to achieve 100% CO2 neutrality across the entire value chain by 2050. Our commitment to the green transition continues to strengthen, which is why we have joined the global and voluntary corporate Science-Based Targets initiative (SBTi). The SBTi supports companies in setting climate targets aligned with the Paris Agreement.
“As a company, we have for many years implemented initiatives that improve our environmental performance. In recent years, we have intensified our daily efforts to meet the UN climate goals. Through the SBTi we commit to the ambitious net-zero target by 2050. The work we have begun will further contribute to a sustainable future for our planet.”
NOVENCO strengthens climate ambitions by joining the SBTi
By joining the SBTi, NOVENCO has two years to prepare targets for validation. The process takes several months, and once approved, we will report annually on progress across our own emissions and those within our value chain.
Reducing emissions at scale requires a combined effort from both NOVENCO and our suppliers. Emissions linked to goods and materials make up the largest part of our total climate footprint. To succeed, we must set ambitious internal targets and place greater demands on suppliers so we can advance together toward more sustainable solutions.
The SBTi is a partnership between the Carbon Disclosure Project (CDP), World Resources Institute (WRI), World Wide Fund for Nature (WWF), and the UN Global Compact (UNGC). Its purpose is to promote ambitious climate action in the private sector by encouraging companies to set emission reduction targets rooted in climate science.
IPCC findings reinforce the urgency behind SBTi’s 1.5 °C-aligned climate pathways
The latest findings from the UN’s Intergovernmental Panel on Climate Change (IPCC) warn of a “code red for humanity.” While limiting global temperature rise to 1.5 °C is still possible, the margin is narrowing. This reinforces the urgent need to halve global emissions before 2030 and reach net zero by 2050.
Ensuring compliance with the Paris Agreement, the SBTi develops methods based on IPCC findings that guide companies in reducing greenhouse gas emissions at a pace consistent with limiting global warming to less than 1.5 °C.
