Climate action targets validated by SBTi
Climate action targets validated by SBTi
Validation covers Origin's near-term Scope 1, 2 and 3 science-based targets
Dublin, London, 09 November 2023: Origin Enterprises plc ('Origin' or 'the Group'), the international Agronomy-Services group, providing specialist advice, inputs and digital solutions to promote sustainable land use, announces that its science-based greenhouse gas emissions reductions targets have been validated by the Science Based Targets initiative ('SBTi').
In pursuit of Origin's commitment to climate action, the Group is resolute in reducing its direct and indirect emissions, working with supply chain partners, and supporting customers by providing solutions to support the transition to net-zero. To achieve these ambitions, Origin submitted the below targets for SBTi validation, across Scope 1, 2 and 3 emissions. These targets are anchored in key performance indicators within the Group's Carbon Transition Plan to 2032, as outlined in the Group's FY23 Sustainability Report.
SBTi validated near-term science-based targets
· Origin Enterprises plc commits to reduce absolute Scope 1 and 2 GHG emissions 54.9% by FY2032, from a FY2019 base year.
· Origin Enterprises plc also commits to reduce absolute Scope 3 GHG emissions from purchased goods and services, upstream transportation and distribution and use of sold products 32.5% within the same timeframe.
The SBTi's Target Validation Team has classified Origin's Scope 1 and 2 target ambition and has determined it is in line with 1.5OC trajectory of the Paris Agreement.
Sean Coyle, Chief Executive Officer, Origin Enterprises plc, commented: "Validation of our science-based climate action targets, in line with the Paris Agreement, is a significant milestone for the Group as we continue to implement our sustainability strategy, Nurturing Growth and its associated targets. Our targets create a clear pathway for us to reduce GHG emissions which will help protect the environment that we, and the customers and communities we serve, depend on. Recognising the pivotal role of our sector in the global transition to net-zero, our focus is to reduce the Group's direct and indirect emissions and optimise the sustainable use of land through innovation and integrated solutions.
While we are proud of our progress to date, and recognise the collective efforts of our team, we are constantly challenging ourselves with ambitious targets that will guide our business in promoting a sustainable future through responsible land use."
ENDS
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Enquiries:
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Origin Enterprises plc |
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Brendan Corcoran |
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Head of Investor Relations |
Tel: +353 (0)1 563 4900 |
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FTI Consulting (Financial Communications Advisers) |
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Jonathan Neilan / Patrick Berkery |
Tel: +353 (86) 602 5988 |
About Origin Enterprises plc
Origin Enterprises plc is an international Agronomy-Services group, providing specialist advice, inputs and digital solutions to promote sustainable land use. The Group has leading market positions in Ireland, the United Kingdom, Brazil, Poland and Romania. Origin's ordinary shares are listed on the Euronext Growth (Dublin) market of Euronext Dublin and the AIM market of the London Stock Exchange.
Euronext Growth (Dublin) ticker symbol: OIZ
AIM ticker symbol: OGN
Website: www.originenterprises.com
About the Science Based Targets initiative
The Science Based Targets initiative (SBTi) is a global body enabling companies and financial institutions to set ambitious emissions reduction targets in line with the latest climate science. The SBTi's goal is to accelerate businesses across the world to support the global economy to halve emissions before 2030 and achieve net-zero 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 one of the We Mean Business Coalition commitments. 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 learn more visit: https://sciencebasedtargets.org/
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