John Deere Receives SBTi Validation of Greenhouse Gas Emission Reduction Targets

Rhea-AI Summary

Deere & Company (NYSE: DE) has received validation from the Science Based Targets initiative (SBTi) for its emissions reduction targets, aligning with requirements to limit global warming to 1.5°C. The company aims to decrease its absolute scope 1 and 2 greenhouse gas emissions by 50% by 2030, compared to 2021 levels, and reduce its scope 3 emissions by 30% in the same timeframe. This acknowledgment supports Deere's sustainability strategy, which includes commitments to product circularity and reducing environmental impact while providing greater value to customers.

Positive

• SBTi validated emissions reduction targets align with climate science.
• Commitment to reduce absolute scope 1 and 2 GHG emissions by 50% by 2030.
• Pledge to cut absolute scope 3 GHG emissions by 30% by 2030.

Negative

• None.

MOLINE, Ill., Oct. 21, 2022 /PRNewswire/ -- Deere & Company (NYSE: DE) announced that its emissions reduction targets have been validated by the Science Based Targets initiative (SBTi). Through an independent assessment, SBTi determined that Deere's targets are consistent with what's required to keep global warming to 1.5°C, which is needed to prevent the most damaging effects of climate change, according to the latest climate science. 

"By prioritizing science-based targets, Deere is taking another critical step in building an organization for the future with a clear commitment to sustainability," said Jill Sanchez, Director of Sustainability for John Deere. "At their core, our customers are purpose-driven, and Deere embraces the role we play in helping them do more with less."

Through its SBTi targets, Deere pledged to reduce its absolute scope 1 and 2 greenhouse gas (GHG) emissions 50% by 2030 from a 2021 baseline. The company also committed to reducing its absolute scope 3 GHG emissions from purchased goods and services and use of sold products by 30% within the same timeframe.

The SBTi approval builds on Deere's Leap Ambitions and represents the next milestone in Deere's efforts to unlock customer value while driving a low-carbon economy. Deere's Leap Ambitions will continue to be guiding principles with specific goals, including reaching product circularity and reducing the company's environmental footprint by 2030. These ambitions align across Deere's customers' production systems to optimize their complete operations — ensuring that every hour, every drop, every seed, every pound, and every pass counts — delivering better economic and environmental outcomes with fewer resources.

SBTi defines and promotes best practice in emissions reductions and net zero targets in line with climate science and brings together a team of experts to provide companies with independent assessment and validation of targets. SBTi is a collaboration between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).

About John Deere

Deere & Company (www.JohnDeere.com) is a global leader in the delivery of agricultural, construction, and forestry equipment. We help our customers push the boundaries of what's possible in ways that are more productive and sustainable to help life leap forward. Our technology-enabled products including John Deere Autonomous 8R Tractor, See & Spray™, and E-Power Backhoe are just some of the ways we help meet the world's increasing need for food, shelter, and infrastructure. Deere & Company also provides financial services through John Deere Financial.

For more information on Deere & Company, visit us at www.deere.com/en/news/.

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SOURCE Deere & Company

FAQ

What is Deere's emissions reduction target?

Deere aims to reduce its absolute scope 1 and 2 greenhouse gas emissions by 50% by 2030.

When did Deere receive SBTi validation for its targets?

Deere received SBTi validation for its emissions reduction targets on October 21, 2022.

What is the scope 3 emissions goal for Deere?

Deere has committed to reducing its absolute scope 3 GHG emissions by 30% by 2030.

How does the SBTi relate to Deere's sustainability goals?

The SBTi validation supports Deere's sustainability strategy, promoting significant emissions reductions based on climate science.

What is the significance of the SBTi validation for Deere's business?

The SBTi validation enhances Deere's credibility in sustainability and aligns its business practices with global climate goals.