Avery Dennison’s emissions reduction targets have been approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the goals of the Paris Agreement.
The targets covering greenhouse gas emissions from the company’s operations (scopes 1 and 2) are in line with reductions required to keep warming to no more than 1.5°C, the most ambitious goal of the Paris Agreement and what the latest climate science has told us is needed to prevent the most damaging effects of climate change. Meanwhile, the company’s target for the emissions from its value chain (scope 3) meets the SBTi’s criteria for ambitious value chain goals, meaning it too is aligned with current best practices.
This news comes as the company raises the bar on its sustainability goals, having announced earlier this year that it is furthering its efforts by setting ambitious 2030 targets. This saw the company commit to reducing absolute scope 1 and 2 GHG emissions by 70 percent from a 2015 baseline year and the company also commits to reduce absolute scope 3 GHG emissions from purchased goods and services and end of life treatment of sold products 30 percent by 2030 from a 2018 base year.
Galvanized by the historic Paris Agreement, the transition to a zero-carbon economy is underway and accelerating globally. The latest reports clarified that more needs to be done faster to avoid the worst impacts of climate change and secure a thriving, sustainable economy. The next few years are critical, and companies have a vital role in helping achieve transformation at the pace and scale that is needed.
‘Setting sustainability goals needs a benchmark by which we all ensure everyone is working together towards a collective goal,’ commented Michael Colarossi, VP, product line management, innovation and sustainability, RBIS, Avery Dennison, and lead for ESG initiatives for the company. ‘This acknowledgment by the SBTi gives us confidence that we are setting ambitious scopes 1, 2 and 3 GHG emissions reduction targets, as we join with other global industry leaders to move the needle towards a future of net-zero emissions.’