SBTi also validated Grundfos’s near-term 2030 emission reduction targets. Grundfos commits to reduce absolute Scope 1 and Scope 2 GHG emissions 50% and reduce absolute Scope 3 GHG emissions 25% by 2030 from a 2020 baseline year.
“At Grundfos, our services and solutions go beyond water, as do our sustainability ambitions: saving energy, saving water, circular business, and water access,” said Poul Due Jensen, group president and CEO of Grundfos. “As a leading pump manufacturer and water solutions provider, we take responsibility for the carbon that is emitted not only to produce our products but also the energy consumed when they are in use. This creates a layer of complexity many companies do not have when tracking emission reduction, and I am immensely proud to see Grundfos lead the sector in brave pursuit of a better world for people, businesses, and planet.”
Grundfos says that the net-zero target will require significant innovation efforts and deep, concerted decarbonisation efforts across the company’s operations and value chain.
The company worked with industry experts to identify the use of Grundfos products by end users as its biggest source of GHG emissions. These emissions, of which Grundfos is indirectly responsible for across its value chain, account for 99% of the company’s total GHG emissions. Grundfos believes it can make the most difference in addressing the growing climate challenges by pledging to reduce Scope 3 emissions by delivering the world’s most energy-efficient and digitally enabled product portfolio.
Grundfos’s science-based targets and carbon footprint baseline have been created in partnership with global climate consultancy the Carbon Trust.
Hugh Jones, managing director, Advisory at the Carbon Trust, said: “We are proud to have supported Grundfos in setting its science-based targets, which are aligned to both climate science and global net zero ambitions. This represents a significant milestone in the company’s sustainability journey and makes a positive contribution to the wider water sector’s move towards a decarbonised future.”