German industrial giant Thyssenkrupp has had its new emissions goals approved by the Science-Based Targets Initiative (SBTi), shortly after pledging to become climate-neutral by 2050
Thyssenkrupp is one of just four German firms to achieve SBTi approval
While ‘climate-neutrality’ by 2050 is, according to the Intergovernmental Panel on Climate Change (IPCC), what is necessary to limit the global temperature increase to 1.5C, the SBTi approval is for the company’s medium-term targets, which are aligned with the Paris Agreement’s 2C trajectory.
These include a target of reducing direct (Scope 1) and power-related (Scope 2) carbon emissions by 30% by 2030, against a 2018 baseline, and of cutting indirect (Scope 3) emissions by 16% by 2030, against a 2017 baseline. Thyssenkrupp believes its largest