We started our first investigations into the SBT process internally with a Science Based Targets workshop back in mid 2017 to explore what science-based targets are, how they fit with global policy developments and how they can be applied to our activities.
We already had scope 1&2 carbon footprint calculations and targets as part of our Climate & Energy 2020 Strategy. Yet, we found it more difficult to engage with total scope 3 baseline calculations or targets setting. That is the reason why we looked for expert external advice to establish the scope 3 target setting based on a thorough analysis of the many types of levers applicable to the many categories of scope 3 carbon impact. Our Science Based Targets were approved early 2020. We published them in September 2020 with the launch of our Sustainability Strategy 2030 ‘It’s our nature’.
Now that strategy and 2030 targets are approved by our Top Management and Board, we are working on the implementation. For example, we are starting up an Energy Excellence program to make our sites zero carbon, as well as a VELUX Renewable Power Purchase Program focused on sourcing 100% renewable electricity by 2023. This is part of our commitment to the global call-to-action initiative RE100.
For organisations launching the SBT process , we have 3 top tips:
- Work thoroughly with different scenarios for carbon reduction pathways: it allows you to analyse different levers and push your ambitions.
- Make a real bottom up/top down process - getting the facts/data in place to discuss scenarios and implications with Top Management more than once. A learning process internally needed to reach decisions, so allow time for that.
- Seek external advice and guidance. Especially within scope 3 baseline and target setting as this area is new for most companies
Read more about our commitment to become Lifetime Carbon Neutral here www.velux.com/itsournature