As a company, ViaCon is committed to sustainable solutions and environmentally sound engineering. With this in mind, ViaCon is pleased to announce that the Science Based Targets initiative (SBTi) has approved the targets we have set.
ViaCon submitted our greenhouse gas emission reduction targets to the SBTi, which assessed ViaCon’s near-term and net-zero targets against the SBTi’s Net-Zero Standard Criteria and the SBTi Near-Term Target Criteria and Recommendations (version 5). After careful review, the SBTi approved ViaCon’s targets.
The SBTi’s Target Validation Team classified ViaCon’s scope 1 and 2 near-term target ambition and determined that it is in line with a 1.5°C trajectory. The Target Validation Team also evaluated ViaCon’s scope 1, 2, and 3 long-term target ambition, and determined that our long-term target(s) are aligned with the SBTi’s 1.5°C mitigation pathways for reaching net-zero by 2050 or sooner.
The SBTi, in granting this approval, stated that the initiative “commends your ambitious net-zero target, currently the most ambitious designation available through the SBTi process”.
As of May 2024, ViaCon’s approved net-zero target wording and temperature alignment will be available on the SBTi website.
“SBTi validation is an important milestone as an independent proofpoint demonstrating that ViaCon is on the right side of the Paris agreement at the 1.5°C target,” says Mattias Hakeröd, Chief HR and Sustainability Officer. “On behalf of the ViaCon Executive Team, I’d like to thank the team behind our submission for their hard work leading up to submission, but also for organising a full system of reporting within the Group.”
“With SBTi approved targets, ViaCon gains independent validation of our aims for emissions reduction,” explains CEO Stefan Nordström. “We have long believed in sustainable construction, and with approved science-based targets, we can provide verifiable measurements of our efforts. Now it’s on us to ensure that we can achieve these ambitious targets. With all the methodical, thorough work done so far, I am confident that we will.”
What are ViaCon’s approved targets?
ViaCon’s approved net-zero target wording includes:
- Overall Net-Zero Target: ViaCon Group commits to reach net-zero greenhouse gas emissions across the value chain by 2050.
- Near-Term Targets: ViaCon Group commits to reduce absolute scope 1 and 2 GHG emissions 44.2% by 2030 from a 2021 base year. ViaCon Group also commits to reduce absolute scope 3 GHG emissions 42% within the same timeframe.
- Long-Term Targets: ViaCon Group commits to reduce absolute scope 1, 2 and 3 GHG emissions 90% by 2050 from a 2021 base year.
The official near-term science-based target language is as follows:
“ViaCon Group commits to reduce absolute scope 1 and 2 GHG emissions 44.2% by 2030 from a 2021 base year. ViaCon Group also commits to reduce absolute scope 3 GHG emissions 42% within the same timeframe.”
What is the SBTi, what does SBTi target approval mean and why is it important?
What is SBTi?
The Science Based Targets initiative is a corporate climate action organisation that enables companies and financial institutions worldwide to play their part in combating the climate crisis. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. 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.
What does SBTi target approval mean and why is it important?
Taking climate action is urgent, and setting and working toward approved SBTi targets allows ViaCon to tackle global warming challenges while benefiting from the competitive advantage afforded by SBTi alignment in the transition to a zero-carbon economy.
While science-based targets are not yet mandatory, committing to them now positions ViaCon ahead of the curve and reflects the company’s long-standing commitment to long-term, sustainable outcomes.