Purmo Group, a leader in sustainable indoor climate comfort solutions, has today announced its alignment with the ‘Business Ambition for 1.5°C’ campaign which sets setting science-based emission-reductions targets. It is a response to the Science Based Targets initiative’s (SBTi) call for companies to commit to achieving a 1.5°C limit on global warming as well as net-zero emissions by 2050.
This is the Group’s first step into the adoption of science-based targets. In 2023 it will submit targets for near-term, long-term and net-zero by 2050 to the SBTi for approval, covering its own greenhouse-gas emissions as well as those of its supply chain (referred to as scope 1, 2 and 3 emissions). The targets will show the rate and magnitude of the required reductions.
Science-based targets are emission-reduction goals required to realise the Paris Agreement: limiting global warming to well below 2°C above pre-industrial levels and pursuing efforts to limit it to 1.5°C
John-Peter Leesi, CEO Purmo Group said: “This is a significant milestone in our ‘Complete Care’ sustainability strategy that puts climate at the heart of our business. Science-based emission-reduction targets are challenging but essential targets that we must strive towards. I am incredibly proud to join other responsible businesses who have woken up to the climate crisis we are facing.”
Sam Hodlin, Head of Sustainability at Purmo Group added: “Only by measuring and reporting our impact on greenhouse-gas emissions can we define a credible and verifiable way forward. This is essential. It is what the latest climate science has told us is needed to prevent the most damaging effects of climate change. We will collaborate with our suppliers and key stakeholders to achieve net-zero carbon emissions.”
Notes for editors:
Galvanized by the historic Paris Agreement, the transition to a zero-carbon economy is underway and accelerating globally. Hundreds of corporations worldwide are preparing for the transition by setting emission-reduction targets grounded in climate science. The latest science has made it clear that more needs to be done, and faster, to avoid the worst impacts of climate change and secure a thriving, sustainable economy.
The next few years are critical, and companies have a vital role to play in helping to achieve transformation at the pace and scale that is needed. Businesses taking science-based climate action benefit from greater opportunities for innovation, strengthened investor confidence and improved competitiveness.
Purmo group is now featured on the companies taking action table as having a net-zero commitment and is part of the Business Ambition for 1.5°C and UNFCCC Race to Zero campaign.
Overall, buildings in the EU are responsible for approximately 40 per cent of the EU’s energy consumption and 36 per cent of its CO2 emissions. It is estimated that up to 75 per cent of Europe’s building stock is not energy efficient according to current and emerging building standards. As a provider of sustainable and energy-efficient heating and cooling solutions, Purmo Group can play a pivotal role in combatting climate change.
Purmo Group’s ‘Complete Care’ sustainability strategy puts climate at the heart of every aspect of its business. It addresses what it makes, how it makes it, how it treats its people and how it supports the communities around it. To be understandable and measurable, these four areas have been translated into 10 commitments, measured by 24 KPIs and realised by a range of actions.
Read more about Complete Care online at https://www.purmogroup.com/en/sustainability
For more information contact:
Justin Roux, Global Head of Communications. Purmo Group. +44 771 742 2893
About Purmo Group
Purmo Group is a leader in sustainable indoor climate comfort solutions in Europe. We provide complete heating and cooling solutions to residential and non-residential buildings, including radiators, underfloor heating, heat pumps, towel warmers, valves and controls. Our mission is to be the global leader in sustainable indoor climate comfort solutions. Our 3,500 employees operate in 24 countries, manufacturing and distributing top quality products and solutions to our customers in more than 100 countries globally. Purmo Group’s shares are listed on Nasdaq Helsinki with a ticker symbol PURMO. More information: www.purmogroup.com.
About the Science Based Targets initiative
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 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), the World Wide Fund for Nature (WWF), and one of the We Mean Business Coalition commitments. 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. www.sciencebasedtargets.org @sciencetargets