Landis+Gyr has committed to setting science-based targets to further reduce carbon emissions in line with the level of decarbonization required to meet the goals of the Paris Agreement
CHAM, Switzerland, April 22, 2022 /PRNewswire/ -- Following last year's announcement to become carbon neutral by 2030, Landis+Gyr (SIX: LAND) has signed the commitment letter to join the Science Based Target initiative (SBTi). This pledge will see the Company set ambitious science-based targets, both near-term (in 5 to 10 years) and long-term (by 2050). These efforts follow Landis+Gyr's purpose to manage energy better for a greener tomorrow and are in line with the Paris Agreement, limiting global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.
In 2007, Landis+Gyr started to measure and closely manage its carbon footprint. Since then, the Company has achieved a 47% reduction of its carbon emissions. In addition, Landis+Gyr tracks the positive impact of its global Smart Metering base of more than 125 million connected intelligent devices on a yearly basis. In the financial year 2021, the state-of-the-art technologies and solutions helped avoid more than 9 million tons of CO2 emissions. The commitment to the SBTi will further drive efforts to reduce carbon emissions within its operations (Scopes 1 and 2) and to support the decarbonization of the supply chain (Scope 3) by setting ambitious targets and developing a roadmap to achieve them.
"Sustainability is part of our DNA and an integral part of our values, mission and strategy. Our commitment to the Science Based Target initiative is the next step in our sustainability journey," said Werner Lieberherr, Chief Executive Officer at Landis+Gyr. "As a leading global provider of energy management solutions, we actively drive progress on environmental, social and governance issues and are proud to be part of the global efforts to decarbonize the grid."
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies and financial institutions across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.
Landis+Gyr is a leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios, we deliver innovative and flexible solutions to help utilities solve their complex challenges in Smart Metering, Grid Edge Intelligence and Smart Infrastructure. With sales of USD 1.4 billion in FY 2020, Landis+Gyr employs around 5,000 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better.
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