Nord-Lock Group has announced that the Science Based Targets initiative (SBTi) had approved its near- and long-term greenhouse gas (GHG) emissions reduction targets.
The short-term targets included reducing absolute scope 1 and 2 GHG emissions by 58.8% by 2034 from a 2022 base year and scope 3 GHG emissions by 58.8% by 2034 from a 2022 base year.
Regarding the long-term targets, Nord-Lock Group aimed to reduce absolute scope 1 and 2 GHG emissions by 100% by 2050 from the 2022 base year and reduce scope 3 GHG emissions by 92% by 2050 from the 2022 base year.
When reaching a 92% actual reduction in 2050, the remaining 8% of emissions to reach net zero will be reduced by climate compensation actions following the upcoming guide developed by SBTi.
Nord-Lock Group added that several actions will be taken to reduce GHG emissions. For example, Scope 1 and 2 emissions will be reduced mainly by minimising natural gas heating in the premises and sourcing 100% renewable electricity and district heating. Scope 3 emissions will mainly be reduced by purchasing low-carbon or recycled steel and by reducing air freight when sourcing materials and delivering ready products to customers.
Currently, Nord-Lock Group has implemented several climate change mitigation actions across all business units, such as sourcing renewable electricity and low-emission and recycled steel for products, transitioning to renewable fuels for their car fleet and increasing the internal circularity of waste.
“Addressing climate change by limiting GHG emissions from our production sites and value chain has been a key issue since the earliest days of our sustainability program. With approved science-based targets, we can focus our efforts with even more precision to reach net-zero emissions by 2050,” Christina Hansson, Chief Sustainability Officer at Nord-Lock Group.
