Weir’s emissions reduction targets approved by SBTi

The SBTi approved near-term science-based emissions reduction targets are to:

• Reduce absolute scope 1 & 2 GHG emissions by 30% by 2030 from a 2019 base year.
• Reduce absolute scope 3 GHG emissions from use of sold products by 15% within the same timeframe.

The company believes that challenging itself to further reduce emissions from its own operations and in our wider value chain is right for the world and for the business. Weir has a responsibility to minimise carbon emissions to help protect the future of the planet, aligned with the company’s purpose to enable the sustainable and efficient delivery of the natural resources essential to create a better future for the world.

Weir has already made good progress towards its targets, having reduced scope 1 & 2 GHG emissions by a cumulative 17% since 2019. In our broader value chain, the overwhelming majority, 97%, of Weir Group’s scope 1, 2 & 3 combined footprint is attributable to the use phase of long-lifespan products and solutions on customers’ sites. These are, in turn, customers’ scope 1 & 2 emissions so the company has a compelling shared goal to reduce that footprint and the latest technologies are already offering customers energy savings of up to 40%.

Customers want access to more new technologies to solve their biggest sustainability challenges. Weir’s technology and R&D roadmap is focused on five key themes, with voice of customer at its core: move less rock; use less energy; use water wisely; create less waste; and boost with digital. Further innovation to reduce energy consumption per t of ore processed will help reduce emissions from mining even further.

Weir believes that companies should be transparent about how they plan to mitigate and be resilient in the face of climate change. Aligned with Task Force on Climate-related Financial Disclosures (TCFD) recommendations, Weir has developed its first climate transition plan to provide full transparency on how they plan to deliver against their climate targets. This will be included in Weir’s 2022 Annual Report, to be published in late March 2023.

Commenting on the announcement, Jon Stanton, CEO of the Weir Group said: “The world is not moving fast enough to avoid the consequences of climate change. We know the crucial role of metals in low-carbon technologies which is why accelerated, collective action is needed to transform the way metals are mined and produced. Mining needs to scale up and clean up, and Weir’s engineered solutions have an important role to play in achieving that. The approval by SBTi of our near-term science-based greenhouse gas reductions targets reinforces our commitment to make mining smart, efficient and sustainable.”

Read the article online at: https://www.globalminingreview.com/environment-sustainability/09032023/weirs-emissions-reduction-targets-approved-by-sbti/