The first Dutch company has had its science based targets officially approved.
Energy company Eneco Group has had its commitment to reducing greenhouse gas emissions from its electricity by 25% by 2020 (against a 2012 baseline) certified by the Science Based Targets Initiative (SBTI).
The group also approved plans to cut emissions from Eneco’s gas and district heating systems by 16% per household and halve emissions from electricity used by its employees by the same date.
The SBTI is a collaboration between the WWF, UN Global Compact, CDP and the World Resources Institute.
It aims to help companies set ambitious greenhouse gas reduction targets in line with the Paris Agreement’s goal to limit global warming to well under 2°C.
Following reports that 2016 was the hottest year on record, Eneco’s new target aims to ensure the transformational action it is taking to reduce its carbon footprint is in line with current climate science.
Alberto Carrillo Pineda, Leader of the SBTI said: “Setting a science based target is a powerful way of boosting competitive advantage in the transition to the low carbon economy.
“Companies like Eneco are choosing to lead the way in this transition because they are already seeing the benefits to their business including increased innovation, reduced regulatory uncertainty, strengthened investor confidence and improved profitability and competitiveness.”