The Science Based Targets initiative (SBTi), a global body that helps businesses set emission reduction targets based on the latest climate science and the Paris Agreement, has validated GKN Aerospace's transition plans for achieving net-zero carbon emissions by 2050.
According to the UK-based aerospace group, SBTi has determined that GKN's near-term target for reducing emissions by 2025 aligns with the organization's goal of limiting the increase in global average temperature to 1.5 deg C above pre-industrial levels.
"SBTi has determined that our Scope 1 and 2 near-term target ambition is in line with a 1.5°C trajectory, while the Scope 1, 2, and 3 long-term target ambition has been recognized to be aligned with the SBTi’s 1.5°C migration pathways for reaching net zero by 2050 or sooner,” GKN officials said in a written statement.
GKN has committed to reaching net-zero greenhouse gas emissions across the value chain by 2050. It aims to reduce absolute Scope 1 and 2 greenhouse gas emissions by 50% in 2030 compared with 2020 levels while cutting Scope 3 emissions by 25% from 2022 levels the same year. The company also wants to ensure that 70% of its suppliers will achieve science-based targets by 2028.
"Our science-based targets provide a clear pathway to net zero. By addressing our entire value chain, we emphasize our commitment to being the most trusted and sustainable partner in the sky," said GKN Aerospace CEO Peter Dilnot. "Achieving validation from the SBTi marks a significant milestone, underscoring our dedication to decarbonization and accelerating the transition to a more sustainable aerospace industry."
A collaboration among the United Nations Global Compact, the World Resources Institute, and the World Wildlife Fund for Nature, SBTi strives to help companies around the world cut their emissions in half before 2030 and achieve net-zero emissions before 2050. The organization defines and promotes best practices in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves company targets.