Science Based Target initiative and Net-zero targets

Our targets and committments

The Science Based Targets initiative (SBTi) drives ambitious climate action in the private sector by enabling companies to set science-based greenhouse gas emissions reduction targets.

In October 2020, Thule Group’s Board of Directors resolved on new sustainability targets in line with the UN’s 2030 Agenda for Sustainable Development, and we signed to commit the Science Based Targets initiative (SBTi), a global standard for climate goals originating from the goal of the Paris Agreement to limit the increase in the planet’s average temperature to 1.5°C.

Thule Group’s new science-based targets for 2030 have been externally validated by SBTi and focus on Scope 1, Scope 2 and Scope 3 greenhouse gas emissions. See below for the detailed target statements.

Net-zero targets
Building upon the 2030 commitments, the Thule Group has sought approval from Science Based Targets initiative (SBTi) for its Net-zero targets. This means that by 2050, the Thule Group commits to reduce its overall emissions by at least 90% and to neutralise any residual emissions that are not possible to eliminate.
 

Read more about SBTi and Net-zero at the official website

Our target: We commit to a 46% absolute reduction of GHG emissions from our own production facilities by end of 2030, compared to a 2019 base year.
Ambition: 1.5ºC target

Our target: We commit to have 100% purchased renewable electricity at our own production facilities and offices with more than 12 employees by end of 2030, compared to 94% in 2019.
Ambition: 1.5ºC target

Our target: We commit to a 28% absolute reduction of GHG emissions related to our purchased goods, upstream logistics, and downstream logistics by end of 2030, compared to a 2019 base year.
Ambition: Well below 2ºC target (with the opportunity to raise the ambition level to the 1.5ºC target in the future)

EMISSIONS, GREENHOUSE GASES

For transparency and to facilitate comparisons with the preceding year, we have, wherever such data was available, also compiled revised greenhouse gas emissions for the preceding four years

  2023 2022 2021 2020 2019
Scope 1 Direct emissions, tons of CO2 eq 3,173 3,531 3,617 2,591 3,185
Scope 2 Indirect emissions own company, tons CO2 eq 215 35 60 66 272
Scope 3 Indirect emissions from logistics, business travel, purchased heating/cooling and electricity, tons of CO2 eq 18,669 28,034 31,548 30,247 24,081
Scope 3 Indirect emissions from purchased materials and goods, as well as capital goods, tons CO2 eq 151,262 230,541 290,534 195,327 238,859
Total (scope 1, 2 & 3), tons CO2eq 173,319 262,141 325,759 228,231 266,397
Change – Total emissions (scope 1, 2 and 3), percentage change compared with 2019 base year -35% -2% 22% -14%  
           
Emissions relative to turnover (scope 1, 2 and 3), tons of CO2eq/SEKm 19.1 25.9 31.4 29.2 37.9
Change – Emissions relative to turnover (scope 1, 2 and 3), percentage change compared with 2019 base year          -50% -32% -17% -23% -50%

 

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