Lenovo is among the first companies to achieve “net zero emissions” certification from the Science-Based Targets initiative.is a leading computer and smartphone manufacturer and is one of only 139 companies in the world whose goals are certified to the “Net-Zero” standard.
HONG KONG, 19 January 2023–(BUSINESS WIRE)–Lenovo (HKSE:992) (ADR:LNVGY) today announced its goal of achieving zero net greenhouse gas (GHG) emissions by 2050, endorsed and validated by the Science-Based Targets Initiative (SBTi) . The United Nations Global Compact is a collaboration between the Carbon Disclosure Project (CDP) and the World Wide Fund for Nature (WWF). Thus, Lenovo becomes the first PC and smartphone manufacturer and one of only 139 companies in the world to set a carbon neutrality goal certified by SBTi.
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By partnering with SBTi and complying with their Net-Zero standard (a world first), Lenovo is taking a scientific, collaborative and responsible approach to reducing its emissions.
“As a global technology leader, Lenovo has been committed to reducing emissions for more than a decade,” said Lenovo President Yuanqing Yang. “In the fight against climate change, we believe that cooperation and accountability are two essential elements for collective success. We remain committed to respecting climate science, standardizing our assessments, and obtaining regular validation of our goals and progress,” he adds.
By aligning their targets with SBTi, companies can better meet their emissions reduction commitments. Without this alignment with SBTi standards, it is difficult to confirm or know when the zero emission goal will be achieved. The reason for this:
Standardization : SBTi is the first organization to standardize the definition of “net zero emissions” in the context of efforts to limit global warming to 1.5 degrees Celsius.
Adaptation : SBTi standards are scalable and take into account the collective efforts of companies and the evolution of the planet’s temperature.
Responsibility : While 2050 may seem like a distant deadline to many, many leaders who commit today may not be in office 27 years from now. Aligning climate change mitigation targets with external agency standards helps ensure a degree of accountability and sustainability.
“Climate science tells us that if we are to achieve global carbon neutrality and avoid the most damaging effects of climate change, we must reduce our emissions quickly and significantly,” said President and CEO of Science Based. Targets Initiative, Luiz Amaral. “Lenovo’s carbon neutral goals meet the severity of this climate crisis and are an example for its peers. »
Lenovo’s long-term targets for 2050 coincide with short-term emissions reduction targets for 2030 approved by SBTi. Here is the list:
Global goal of net zero emissions
Lenovo is committed to achieving net greenhouse gas emissions across its value chain by fiscal 2049/2050.
Lenovo is committed to reducing its total Scope 1 and 2 GHG emissions by 50% by fiscal years 2029/2030 compared to the 2018/2019 base year. Lenovo also commits to reducing Scope 3 GHG emissions by an average of 35% from the use of products sold for comparable products over the same period, and by 66.5% each time Scope 3 GHG emissions from the purchase of goods and services are committed. million dollars in gross profit. Finally, Lenovo is committed to reducing Scope 3 greenhouse gas emissions from upstream transportation and distribution by 25% for every tonne-km of product transported over the same period.
Lenovo is committed to a 90% reduction in total greenhouse gas emissions (zones 1, 2 and 3) by fiscal year 2049/50 compared to fiscal year 2018/19.
Lenovo is among the first companies to take a science-based approach to reducing emissions after winning approval in 2020 for short-term emissions reduction targets to 2030 and participating in field trials of the first net-zero emissions standard of its kind.
“Success in achieving net zero emissions targets requires the adoption of a transparent and collaborative science-based framework that holds companies accountable over the long term. SBTi has developed this framework to enable companies to accelerate waste reduction,” said Carolina Milanesi, founder of The Heart of Tech, an environmental, social and management consulting firm.
Lenovo’s key strategies to reduce emissions include reducing the environmental impact of its products, using innovation to increase the sustainability of its products, and reducing emissions in its operations and supply chain. These strategies are reflected in the Net-Zero Journey video series, which explains how Lenovo experts are changing business processes to achieve net-zero emissions goals.
Lenovo’s emissions quantification will feed into the broader collaborative’s data to help understand and limit the effects of climate change, in line with the Paris Agreement’s goal of limiting global warming to no more than 1.5 degrees Celsius above pre-industrial levels. More than 4,000 companies worldwide are aligning their emission reduction targets with SBTi’s scientific methods and validation processes.
In addition to its efforts to reduce emissions, Lenovo is now named to Gartner’s Global Top 25 Suppliers list, Fortune’s World’s Most Admired Companies list, and recognized by CDP as a Pioneering Company for climate change and water security. To learn more about Lenovo’s efforts to create a smarter, more sustainable future for all, see the company’s ESG report for fiscal year 2021-22.
For more information, visit Lenovo’s StoryHub.
Lenovo (HKSE: 992) (ADR: LNVGY) is a global technology powerhouse with revenues of US$70 billion. Ranked 171st on the Fortune Global 500 list, Lenovo employs 82,000 people worldwide, serving millions of customers in 180 markets every day. Driven by a bold vision to deliver smarter technology for everyone, Lenovo is building on its success as the world’s #1 PC industry to expand into strategic growth areas such as servers, storage, mobile, solutions and services. Combined with Lenovo’s groundbreaking innovation, this transformation is creating a more inclusive, secure and sustainable digital society for everyone, everywhere. For more information, visit https://www.lenovo.com and follow us on StoryHub.
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