Business
Weir commits to more ambitious emissions targets
Weir commits to more ambitious emissions targets.
About this update from Weir Group Plc
[{"type":"text","content":"\n \n \n \n \n \nWeir commits to more ambitious emissions targets\n \n \n \n \n \n \n \n ·\n New targets for absolute reductions of 30% in scope 1 and 2 emissions and 15% in scope 3 emissions across operations and value chain by 2030, versus a 2019 baseline\n \n \n ·\n Significant contribution to lower emissions expected from growing portfolio of technology-led solutions for sustainable mining\n \n \n ·\n Partnership will be required to drive broader mining sector transition to low-carbon energy\n \n \n \n \n \n The Weir Group is pleased to announce it has submitted new, more ambitious scope 1,2 and 3 emissions reduction targets to the Science Based Targets Initiative (SBTi) for validation. This follows our commitment, in December 2021, to set SBTi targets.\n \n \n The proposed new targets include absolute reductions in scope 1 and 2 emissions of 30% and scope 3 emissions of 15% by 2030, versus a 2019 baseline. The targets are more ambitious than our previous goals, set in 2020, in two ways:\n \n \n ·\n Switching from an intensity to an absolute emissions reduction basis will drive deeper cuts in scope 1 and 2 emissions.\n \n \n ·\n The new scope 3 commitment adds targets for emissions in Weir's upstream and downstream value chain for the first time.\n \n \n These new targets will make a significant contribution to decarbonising the mining industry. Delivering them would mean that in 2030, an annual reduction of circa 4.2 million tonnes CO2e is achieved - which is equivalent to the annual CO2 emissions of almost 1 million petrol cars.\n \n \n Weir is focused on developing engineered solutions for smarter, more efficient and sustainable mining, providing customers with new value adding technologies for use in the most energy intensive processes in the mine. With 97% of our total emissions falling within scope 3, over the lifetime of our products in use, we recognise that our biggest contribution to decarbonising mining will come from delivering sustainable solutions to accompany the industry's transition to low-carbon energy sources.\n \n \n The mining industry is critical to the global energy transition as it extracts the raw materials needed to implement new, greener technologies. However, it is energy intensive and so has to meet this increasing demand while delivering on its own environmental commitments. Therefore, it ...