PIRELLI: SCIENCE BASED TARGETS INITIATIVE (SBTi) VALIDATES NEW TARGETS FOR THE REDUCTION GREENHOUSE EMISSIONS
AIMS FOR -42% ABSOLUTE EMISSIONS BY 2025 COMPARED WITH 2015, -9% EMISSIONS FROM RAW MATERIALS COMPARED WITH 2018
PREVIOUS TARGETS REACHED 4 YEARS AHEAD OF SCHEDULE
Milan, 9 May 2022 – Science Based Targets initiative (SBTi) has validated the upgrade of Pirelli’s targets for the reductions of Greenhouse Gas (GHG). By the end of 2021 the company had reached, 4 years ahead of schedule, the previous targets validated by for Scopes 1 and 2.
The new targets, submitted by Pirelli and approved by the SBTi, call for actions consistent with the maintenance of climate warming “within 1.5°C”, compared with the previous scenario which called for remaining “well below 2°C”.
In particular, SBTi – which sets and promotes best practices, based on scientific factors, for the reductions of emissions – validated Pirelli’s targets to reduce by 42% absolute GHG emissions (Scope 1 and 2) by 2025 compared with 2015 and the reduction by 9% of those from raw materials purchased by 2025 compared with 2018 (Scope 3).
Marco Tronchetti Provera, CEO and Executive Vice Chairman of Pirelli, commented: “The validation of targets that are still more ambitious for the reduction of greenhouse gases by the Science Based Targets initiative is an authoritative acknowledgement of our commitment to the fight against climate change that sees us committed daily through our Research & Development into ever more efficient solutions along the whole value chain”.
Science Based Targets initiative
Born of a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and World Wildlife Fund for Nature (WWF), SBTi’s mission if the guide companies in the definition of ambitious targets based on science to contain the increase of the planet’s temperature.