FLSmidth (FLS) has taken another step in its decarbonisation journey, with the company’s updated climate targets formally validated by the Science Based Targets initiative (SBTi).
The validation aligns the company’s emissions reduction pathway with the Paris Agreement goal of limiting global warming to 1.5°C and provides a science-based framework for reducing emissions across its operations and value chain.
Under the updated targets, based on a revised 2019 baseline, FLS aims to achieve net-zero emissions across scopes 1, 2 and 3 by 2050, including a targeted 90 per cent reduction in absolute emissions.
The company has also committed to reducing absolute scope 1 and 2 emissions by 80 per cent by 2030, while cutting scope 3 emissions by 30 per cent over the same period.
FLS said its relatively small operational footprint allows it to move quickly on direct emissions reductions through renewable electricity procurement, energy efficiency measures and electrification initiatives.
The company plans to continue focusing on renewable power, energy efficiency and electrification within its own operations. Beyond the targeted 80 per cent reduction in scope 1 and 2 emissions, FLS intends to use high-integrity carbon credits to address any remaining hard-to-abate emissions and achieve carbon neutrality from 2030 onwards.
A significant part of the company’s decarbonisation strategy is focused on its value chain, particularly helping customers reduce emissions associated with operating FLS equipment and working with suppliers to accelerate upstream emissions reductions.
FLS will place further emphasis on energy-efficient technologies and solutions designed to deliver measurable decarbonisation outcomes while supporting customers’ transition plans.
The company also plans to increase engagement with suppliers, maintaining its ambition to have 30 per cent of supplier spend linked to organisations with SBTi targets. It will also seek to increase the use of recycled and lower-emission materials in purchased goods.
Founded in 2015, the SBTi is a global corporate climate action organisation that develops standards and provides independent validation for companies seeking to align emissions reduction targets with climate science and the goals of the Paris Agreement.
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