Kingfisher, DS Smith and Turner & Townsend unveil science-based targets
Screwfix and B&Q's parent firm Kingfisher has had carbon reduction targets consistent with the required pace to limit global warming to the 1.5C target of the Paris Agreement approved by the Science Based Targets initiative (SBTi), while both packaging firm DS Smith and consultants Turner & Townsend have unveiled net-zero commitments.
Kingfisher has committed to reducing Scope 1 (direct) and 2 (power-related) emissions by 38% in absolute terms by 2025 compared to a 2016 baseline and reducing Scope 3 (indirect) emissions by 40% per £million of turnover by 2025 compared to 2017 levels.
The targets have been approved by the SBTi as aligned to the 1.5C target of the Paris Agreement.
Kingfisher’s chief executive Thierry Garnier said: “Through the great work of all our teams, we met our previous science-based carbon reduction targets well ahead of schedule.
“We felt it was critical for us to take additional commitments by 2025 and have now committed to make the additional investments needed to meet these ambitious new targets. We are proud to join the small number of retailers who have set approved science-based targets in line with a 1.5C scenario.”
Kingfisher has achieved a 27% reduction in absolute carbon emissions since 2016, with emissions from its energy-using products falling by 1.7 million tonnes. An 18% reduction in Scope 3 emissions has also been delivered.
Kingfisher is also a founding member of the UN’s Race to Zero Breakthroughs for the retail sector. The Breakthroughs outline how 20 sectors that make up the global economy, including finance, water, aviation and clean energy, can act on near-term tipping points to move towards net-zero emissions.
The company recently signed for a £550m revolving credit facility agreement (RCF) with interest rates linked to environmental and community targets. It also made headlines last year with a commitment to create more forests than it uses by 2025. Kingfisher is working with the Rainforest Alliance to deliver this goal.
In related news, packaging firm DS Smith has also unveiled new science-based targets, which will act as interim steps towards a net-zero goal set for 2050.
Having reduced carbon emissions per tonne of product by 23% against a 2015 baseline, the company is now aiming to achieve a 40% reduction by 2030, compared to 2019 levels.
The target will be submitted to the SBTi for validation, and DS Smith is also signing up to the Race to Zero initiative.
DS Smith’s group chief executive Miles Roberts said: “It is widely recognised that heavy manufacturing is one of the most challenging sectors to decarbonise, but we are committed to playing our part by taking action to net-zero with a clear plan and roadmap.
“We’ve already made good progress in reducing our carbon as part of our long-term sustainability focus, but we know we need to do much more. That’s why, today, we are not only setting ambitious climate targets for ourselves but strengthening our commitment to delivering more circular solutions for our customers and wider society. I am incredibly proud of all of our people for making this happen.”
Turner & Townsend
Also announcing a net-zero target this week was global professional services consultancy Turner & Townsend. The consultancy has committed to reaching net-zero by 2030.
A roadmap to net-zero from the company features targets to reduce Scope 1 and 2 emissions by 4.2% annually and 50% by 2030. Additionally, the company will aim to reach 80% renewable energy and improve energy efficiency in office spaces by 75%, both by 2025. As for Scope 3 emissions, Turner & Townsend will aim for a 15% reduction by 2030.
The targets have been verified by the SBTi and build on a 54% reduction in emissions per employee since 2015.
Turner & Townsend’s chairman and chief executive Vincent Clancy said: “Climate action can only be achieved through long-term commitment to change. Our strategy programme will ensure we reach net-zero by 2030. Most importantly, it also already looks beyond that deadline to ensure that we can maintain momentum on tackling third-party emissions across our entire value chain.
“We are making these commitments because we are passionate about climate action and because we know that as consultants and advisors on the world’s largest capital investment programmes in infrastructure, real estate and natural resources, we are in a position to make a difference. Building on our own action, our aim is to help establish an industry-wide programmatic approach to meeting net-zero.”