Thule Group Science Based Target initiative and Net-zero targets approved
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. The Thule Group targets for Net-zero has now been approved by the organization. This is an important confirmation of the company's sustainability ambition.
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.
We are very happy that the Thule Group’s new science-based targets for 2030 have now 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.
SCOPE 1
Comprises direct emissions from sources that we control – principally from burning fossil fuels in our factories, refrigerants and our vehicles´ fuel consumption.
Our target: We commit to a 46.2% absolute reduction of GHG emissions from our own production facilities by end of 2030, compared to a 2019 base year.
Ambition: 1.5ºC target
SCOPE 2
Represents indirect emissions from our own operations – primarily from purchased electricity and heating our premises
Our target: We commit continue active annual sourcing of 100.0% renewable electricity through 2030.
Ambition: 1.5ºC target
SCOPE 3
Comprises indirect emissions from sources not controlled by Thule Group, mainly emissions arising from purchased goods, logistics and business travels
Our target: We commit to a 28% absolute reduction of GHG emissions covering 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
Net Zero Targets validated
Building upon the 2030 commitments, Thule Group’s Net Zero targets have been validation by SBTi in December 2023. This means that by 2050, Thule Group commits to reduce absolute Scope 1 and Scope 2 emissions 90% from the 2019 base year, and reduce absolute Scope 3 emissions 90% within the same timeframe, and neutralize any residual emissions that are not possible to eliminate.
