Bupa targets net-zero emissions by 2040
International healthcare company Bupa has joined the UN's Race to Zero programme and has pledged to reach net-zero emissions by 2040.
Bupa has unveiled new commitments that are aligned to climate science that will help the company reach net-zero emissions by 2040 at the latest.
The company will strive to reduce Scope 1 and 2 emissions by 46.2% by 2030 against a 2019 baseline and reducing Scope 3 emissions from purchased goods and services, insurance underwriting, business travel, downstream transportation and distribution by 63% by 2034.
The company has reached 100% electricity in Spain and 90% in the UK. Bupa set up a £50m investment fund back in 2014 to help reduce its carbon emissions.
The targets have been sent to the Science Based Targets initiative (SBTi) to be validated.
Bupa Group’s chief executive Iñaki Ereño, said: “Our commitment to the most ambitious emissions reduction pathway establishes an important path for Bupa’s future, ensuring customers across the world continue to receive high-quality healthcare and services, while we play our part in protecting the planet.
“We understand that delivering healthcare has an environmental impact driven by the sector’s carbon contribution. That’s why we are accelerating our work to significantly reduce our own impact. We also have the opportunity, and the responsibility, to improve understanding about how human health is impacted by the environment, and we will use our global position to educate and advocate for both healthy people and a healthy planet.”
Bupa will also commit to reaching its science-based targets across corporate bonds, loans and equity by 2025. The portfolio targets cover around 40% of its total investment and lending activities. More broadly, Bupa’s investment portfolio will be aligned with a 1.5C pathway by 2040.
The healthcare company is also joining the Race to Zero programme with Health Care Without Harm, an official partner to the global initiative. Race to Zero is the largest ever alliance committed to halving global emissions by 2030 and achieving net-zero carbon emissions by 2050. The campaign represents over 4,000 businesses estimated to cover nearly 25% of global CO2 emissions and more than 50% of GDP.
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