Schindler today announced its commitment to setting science-based emissions reduction targets, in a clear signal of the Group’s determination to avoid the worst effects of climate change.
"Climate action is needed now," said Silvio Napoli, Chairman of the Board of Directors at Schindler. "Companies like ours have a crucial role to play in facilitating the transition to a low carbon economy. We have a lot of work ahead of us, but we’re convinced it is the right thing to do."
Science-based targets build on the latest climate science to determine what actions are needed to meet the goals of the Paris Agreement – to limit global temperature rise to 1.5°C above pre-industrial levels. They are set by companies and validated by the Science Based Targets initiative (SBTi), a partnership between the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
This announcement comes as Schindler outlines new sustainability commitments in its Corporate Responsibility Report published today, including a full transition to renewable electricity by 2025, and a “no waste to landfill” target across all its sites globally by 2023. Schindler also strengthened its sustainability governance structure in 2020, with the setup of a Global Sustainability Committee chaired by CEO Thomas Oetterli. In September 2020, Schindler officially joined the UNGC, the world’s largest corporate sustainability initiative, reaffirming its commitment to the UNGC’s Ten Principles.
In addition, Schindler improved its sustainability reporting, disclosing Sustainability Accounting Standards Board (SASB) metrics for the first time, while starting to implement the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Schindler is also updating its materiality analysis, the findings of which are expected to be published in the course of 2021.
The full 2020 Corporate Responsibility Report can be found here: https://www.schindler.com/responsibility