Vattenfall first Swedish energy company to get net-zero target approved by SBTi
Vattenfall is the first Swedish energy company to have its target of net-zero emissions in 2040 verified by the Science Based Targets initiative (SBTi). This complements Vattenfall’s 2030 targets which are in line with limiting global warming to 1.5°C.
Vattenfall’s target covers all emissions across the company’s value chain. This means that not only are Vattenfall’s own power and heat production included, but also all upstream and downstream emissions. Upstream emissions include those in supply chains linked to growth investments in new fossil-free power production, and while downstream emissions include those from supplying fossil gas to private and business customers. All direct emissions will be prioritized and all residual emissions will be neutralized in line with SBT-criteria.
“I am very happy that the SBTi has verified Vattenfall’s net-zero target. SBTi provides a crucial standard for reporting on net-zero, ensuring we set ambitious targets and maintain transparency and accountability in our efforts. By adhering to SBTi guidelines, we demonstrate our commitment to be leaders in the energy transition. We also encourage those we work with across the value chain and in the wider sector to join us in making a real contribution to climate action,” says Annika Ramsköld, Head of Sustainability at Vattenfall.
Video player requires marketing cookies.
To view this content please click here to allow marketing cookies.
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and the We Mean Business Coalition. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.
To read more about Vattenfall’s net-zero target: Our CO2 roadmap towards climate neutrality
To read more about SBTi and the corporate net-zero standard:
The Corporate Net-Zero Standard - Science Based Targets
For further information, please contact:
Johan Sennerö, Vattenfall Media Relations, +46-73 046 40 45, johan.senneroe@vattenfall.com
See also
The Biotest Lake – a unique place for both sea eagles and climate researchers
The water in the Biotest Lake is 10 degrees above average all year round. The temperature difference, due to the heated cooling water from the nuclear power plant in Forsmark, enables resear...
Testing the future of near-zero cement
Cement currently accounts for 8 per cent of the world's carbon dioxide emissions – but if you look at the research and the progress in the industry, this is about to change.
Teaming up for net zero: collaboration cuts carbon at Bruzaholm wind farm
When Swedish Bruzaholm wind farm is completed this autumn it will not only produce fossil free power. It will also be a shining example of how partnering can spur innovative ideas.