Husqvarna Group has said that its greenhouse gas emissions targets have been validated by the Science Based Targets initiative (SBTi).
The outdoor equipment firm said that the validation covers both its net-zero target and updated near-term target, encompassing Scope 1, Scope 2 and Scope 3 emissions.
According to the validation by the SBTi, Husqvarna has committed to achieve net-zero greenhouse gas emissions across its value chain by 2050, and to reduce absolute Scope 1, 2 and 3 greenhouse gas emissions by 60.28% by 2030 and by 90.0% by 2050, from a 2015 base year.
‘Important confirmation’
“Having our climate targets validated by the Science Based Targets initiative is an important confirmation that Husqvarna Group’s climate targets are both ambitious and credible under the SBTi‘s criteria,” commented Glen Instone, CEO at Husqvarna Group.
“Sustainability is a long-standing strategic priority for Husqvarna Group, and this validation provides a clear, science-based pathway for our continued work to reduce emissions across the entire value chain.”
The Swedish firm said that the validated climate targets provide a framework for its continued sustainability work, as well as its wider operational and business planning. It added that the SBTi validation also strengthens transparency for investors, customers and other stakeholders regarding its climate commitments and reporting.
At its Capital Markets Day, which took place last December, Husqvarna said that it aims to achieve annual organic sales growth of 3-5%, an operating margin above 10%, and a return on capital employed of 15% over a business cycle running to 2030. It also recently announced a cost reduction programme, through which it is targeting annual savings of SEK 4 billion by the end of 2030, with SEK 1.5 billion in non-recurring costs over the same period.
Headquartered in Stockholm, Husqvarna Group employs approximately 11,900 people in 40 countries and reported net sales of SEK 46.6 billion (€4.29 billion) last year. Read more here and here.
