Net-zero climate emissions target receives major validation

2024-2-27 Hitachi Energy

  Hitachi Energy's targets to drastically reduce greenhouse gas emissions (GHGs) and achieve net-zero by 2050 have been approved by leading independent experts SBTi (Science Based Targets initiative).

The SBTi promotes reducing GHGs and avoiding the worst effects of climate change, ensuring company targets align with the goals of the Paris Agreement for limiting global warming to 1.5°C above pre-industrial levels.

The validation follows the encouraging A- rating recently given by CDP (previously the Carbon Disclosure Project, and SBTi co-founder) for Hitachi Energy’s efforts on tackling climate change.

“Our sustainability strategy – covering our environmental, social, and governance performance – is fully aligned within Hitachi Energy’s business plan,” said Alicia Argüello, Hitachi Energy’s Head of Sustainability. “SBTi’s validation of our targets to reduce GHG emissions, in line with the Paris Agreement and in line with climate science, is an important endorsement. We are determined to decarbonize our operations and support our customers and partners, as we accelerate the clean energy transition.

“Increasingly our customers and other stakeholders are seeking such validation, so our listing on the SBTi site is important to our sustainable growth ambitions as a company. As our purpose is ‘advancing a sustainable energy future for all,’ the SBTi’s approval highlights our commitment and adds credibility to our approach.”

Hitachi Energy has had both its near-term (2030) and long-term (2050) science-based net-zero targets approved by the SBTi, and both targets include Scope 3 emissions – those generated across the company’s value chain.

Revalidation will be in five years or earlier if there is any material change to the company’s plans.

In the coming weeks an updated rating is expected from EcoVadis, which evaluates companies across all aspects of environmental, social, and governance performance. Hitachi Energy achieved a gold sustainability rating in 2023.

Hitachi Energy’s emissions reduction targets*

*Targets are all vs base year of 2019