RWS emission goals given the SBTi seal of approval

18th Jun 2024 10:42

(Sharecast News) - Technology-based language, content and intellectual property specialist RWS Holdings announced the approval of its near-term science-based emissions reduction target by the Science Based Targets initiative (SBTi) on Tuesday.

The AIM-traded firm said that in 2022, it enhanced its carbon footprint accuracy by improving data collection and including greenhouse gas (GHG) emissions from both its operations and supply chain.

It had now committed to setting carbon reduction targets aligned with SBTi standards.

In February this year, RWS submitted two GHG inventories for review by the SBTi Target Validation Team.

The team confirmed that RWS's scope one and two target ambitions aligned with the 1.5-degrees Celsius decarbonisation trajectory, consistent with limiting global temperature increases to 1.5-degrees Celsius above pre-industrial levels.

Additionally, RWS said it had chosen to report on its emissions beyond the minimum disclosure requirement.

RWS said it had set ambitious near-term targets, committing to reduce its scope one and two GHG emissions by 54.6% by the end of the 2033 financial year, using the 2022 period as the base year.

The company was also aiming to reduce scope three GHG emissions from purchased goods and services and employee commuting by 61.1% per £1m value added within the same timeframe.

"The SBTi is the gold standard for defining the pathway to reduce corporate greenhouse gas emissions and we're proud of this recognition of our commitment," said chief executive officer Ian El-Mokadem.

"Sustainability is core to the way we operate and we will continue to ensure that we're doing all that we can to combat the climate crisis."

At 1019 BST, shares in RWS Holdings were up 0.41% at 197.4p.

Reporting by Josh White for Sharecast.com.