Sets new goals to limit climate change beyond industry standard
RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Lenovo (HKSE: 992) (PINK SHEETS: LNVGY) is today unveiling new aggressive, science-based greenhouse gas emission reduction targets for 2030 alongside its new Environmental, Social and Governance (ESG) Report which details its ESG progress to date, as well as its future plans. These new targets have been approved by the Science Based Targets initiative (SBTi) and support global scientific goals to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels (scope 1 and 2) and are ambitious in line with the current best practices (scope 3).
Lenovo is setting these new goals after reducing its scope 1 & 2 GHG (Greenhouse Gas) emissions by 92 percent in FY2019/20, exceeding its 40 percent reduction goal set in 20101. Lenovo achieved this goal through a variety of energy efficiency projects, renewable energy installations within the U.S. and China, and support for several renewable energy projects via renewable energy commodity purchases.
Moving forward and building on the success of 2020 target, Lenovo has identified new goals that will make a bigger impact on reducing climate change, bringing the world closer to a Net Zero Greenhouse Gas future. By 2030 Lenovo will commit to reducing scope 1 and 2 direct emissions (emissions related to operations including energy purchased for electricity, heat, steam and cooling) by 50 percent; and reducing scope 3 emissions intensity throughout its value chain by 25 percent.
Within its value chain, Lenovo is focusing on decreasing emissions across three categories, including: the use of sold products (for notebooks, desktops and servers); purchased goods and services; and upstream transportation. The company is also identifying what it will take to reach net-zero emissions by 2050.
As part of Lenovo’s science-based targets adoption, the company is setting more ambitious goals for scope 1 & 2 emissions, to limit climate change to a 1.5-degree Celsius increase in global temperature, versus the less aggressive but SBTi aligned goal of limiting to a 2-degree increase.
“We’re incredibly proud of the progress we’ve made so far in reducing our impact on the environment through conscious effort, as well as investments across our operations,” said Lenovo CEO Yang Yuanqing. “We, and other global companies like us, need to act promptly as the world is needing real environmental action. As a result, we are going further than ever before to set ambitious future targets so that we can build a better future where smarter technology continues to empower everyone, everywhere.”
This is Lenovo’s 14th annual ESG Report, covering the Fiscal Year 2019/20 (April 1, 2019 through March 31, 2020). Along with updated SBTi goals and metrics, the report details additional milestones such as $19.7 million in charitable impact (donated products, cash, and employee service) from Lenovo Foundation, participation in the Valuable 500 Inclusivity Initiative, 66 products now manufactured with recycled content, and Leadership Level recognition from CDP. For more information visit Lenovo StoryHub.
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$50 billion Fortune Global 500 company, with 63,000 employees and operating in 180 markets around the world. Focused on a bold vision to deliver smarter technology for all, we are developing world-changing technologies that create a more inclusive, trustworthy and sustainable digital society. By designing, engineering and building the world’s most complete portfolio of smart devices and infrastructure, we are also leading an Intelligent Transformation – to create better experiences and opportunities for millions of customers around the world. To find out more visit https://www.lenovo.com, follow us on LinkedIn, Facebook, Twitter, YouTube, Instagram, Weibo and read about the latest news via our StoryHub.
1 Scope 1 emissions are direct emissions from Lenovo’s internal operations and facilities, scope 2 emissions are indirect emissions from the generation of our energy suppliers and scope 3 emissions are the result of activities from assets that Lenovo does not own or control
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