Chevron Traffic Management has taken a significant step towards environmental responsibility by having its science-based emissions reduction targets approved by the Science Based Targets Initiative (SBTi). This commitment demonstrates the company's dedication to combating climate change and aligning its operations with global efforts to limit temperature rise.
The company's overall Net-Zero Target aims to achieve net-zero greenhouse gas emissions across its entire value chain by 2050. This ambitious goal is supported by a series of near-term and long-term targets designed to progressively reduce emissions.
In the near term, Chevron Traffic Management has pledged to reduce its absolute scope 1 and 2 GHG emissions by 42% by 2030, using 2021 as the base year. Additionally, the company has committed to reducing its scope 3 GHG emissions from purchased goods and services, capital goods, upstream transportation and distribution, and waste generated in operations by the same percentage within the same timeframe.
Looking further ahead, the company's long-term targets are even more ambitious. Chevron Traffic Management aims to reduce its absolute scope 1 and 2 GHG emissions by 90% by 2050, again using 2021 as the base year. The same 90% reduction target applies to the company's scope 3 GHG emissions within this extended timeframe.
These science-based targets reflect Chevron Traffic Management's commitment to sustainable business practices and its recognition of the urgent need to address climate change. By setting these targets, the company is positioning itself as a leader in environmental stewardship within its industry.
The Science Based Targets initiative (SBTi) is a groundbreaking collaboration between several prominent organisations, including CDP, the United Nations Global Compact, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the We Mean Business Coalition. This partnership aims to drive corporate climate action by encouraging companies to set ambitious and measurable goals that align with the latest climate science and the Paris Agreement's objectives.
At its core, the SBTi provides a framework for businesses to establish greenhouse gas emission reduction targets that are both scientifically sound and in line with global efforts to limit global warming. By setting these science-based targets, companies can demonstrate their commitment to sustainability and contribute meaningfully to the fight against climate change.
The initiative offers guidance, tools, and resources to help organisations across various sectors develop and implement their targets. This support ensures that companies can create robust, achievable plans that not only benefit the environment but also enhance their long-term business resilience and competitiveness in an increasingly carbon-constrained world.
By participating in the SBTi, businesses join a growing community of forward-thinking companies that recognise the urgency of climate action and are taking concrete steps to reduce their environmental impact. This collective effort is crucial in driving the global transition towards a low-carbon economy and securing a sustainable future for all.
