Science Based Targets initiative validates South Pole’s net-zero targets, including 72% reduction of scope 1 and 2 GHG emissions by 2030, and 90% reduction of scope 1, 2, and 3 GHG emissions by 2040 from 2019 base year

Zurich, 30 January 2024 – South Pole's long-term target to reduce its total global greenhouse gas (GHG) emissions to net zero by 2040 has been validated by the Science Based Targets initiative (SBTi).

In addition, South Pole's near-term targets - committing South Pole to ambitious 2030 scope 1, 2 and 3 emissions reduction targets - have been validated. South Pole will prioritise direct emissions reductions, and ensure that all residual emissions will be neutralised in line with the SBTi criteria before reaching net zero emissions.

In 2021, South Pole had its original near-term targets approved by the SBTi, as a small-to-medium-enterprise (SME). However due to significant growth in the company, the decision was taken to commit to new, improved targets.

South Pole has committed to a long-term target to reduce absolute scope 1, 2, and 3 GHG emissions by 90% by 2040 from a 2019 base year. For the near-term, the now validated targets are:

• South Pole commits to reduce absolute scope 1 and 2 GHG emissions by 72% by 2030 from a 2019 base year.
• South Pole commits to reduce scope 3 GHG emissions from air-related business travel by 91.5% per FTE by 2030 from a 2019 base year.
• South Pole commits to reduce all other absolute scope 3 GHG emissions from business travel by 27.5% by 2030 from a 2019 base year.

João Sargedas, Senior Manager, Sustainability, Compliance and Risk at South Pole, said, “The SBTi is truly the marker of best practice in the realm of setting credible, science-based emission reductions targets. We are delighted to have had our targets validated and can now continue the critical work of reducing our emissions in a structured and ambitious way. South Pole will prioritise direct emission reductions, and ensure that all residual emissions will be neutralised in line with the SBTi criteria before reaching net zero emissions. This is another big step on our own net zero journey, and one we're very proud of."

South Pole has been calculating and disclosing its greenhouse gas emissions for many years, having had its first independent Limited Assurance in 2023, to further increase the quality of its disclosures.

The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies' targets. More than 4,000 businesses around the world are already working with SBTi, in having validated targets that are aligned with the latest climate science, so it was only natural that we kept being a part of this initiative.

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