Keysight Commits to Science Based Targets Initiative

Rhea-AI Summary

Keysight Technologies, Inc. (NYSE: KEYS) has committed to the Science Based Targets initiative (SBTi) to support its emissions reduction and net zero strategy. The company aims to achieve net zero emissions in operations by fiscal year 2040, a decade ahead of the Paris Agreement goal. Keysight’s interim targets include 55% renewables and a 10% reduction in energy use by 2030, based on 2019 levels. Key strategies involve fleet electrification, renewable energy installations, and partnerships with green utility providers.

Positive

• Commitment to SBTi enhances corporate climate action credibility.
• Aiming for net zero emissions by 2040, ahead of 2050 Paris Agreement goal.
• Targets to use 55% renewables and reduce energy consumption by 10% by 2030.

Negative

• None.

Helps limit global warming to 1.5°C in support of the company’s emissions reduction strategy

SANTA ROSA, Calif.--(BUSINESS WIRE)-- Keysight Technologies, Inc. (NYSE: KEYS), a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, announced their commitment to the Science Based Targets initiative (SBTi) in support of the company’s emissions reduction and net zero strategy. Keysight will work with the SBTi to develop approved science-based targets (SBTs) in line with limiting global warming to 1.5 degrees Celsius.

Keysight recognizes that climate change is an economic, environmental and social crisis, and the private sector needs to take meaningful action to reduce greenhouse gas (GHG) emissions. As such, the company recently announced a target to reach net zero emissions in company operations by the end of fiscal year 2040. SBTi provides an ideal framework to develop, track and report on these corporate ambitions. Setting approved SBTs will enable Keysight to measure progress in GHG emissions reduction and ensure targets are consistent with the latest climate change scenarios.

“Keysight’s commitment to the SBTi supports our climate action goals and is in alignment with our 2030 interim targets,” said Ingrid Estrada, chief administration officer at Keysight. “Our net-zero strategy was developed with the environment, customers, employees and investors in mind to meet and exceed their expectations through conscientious business operations.”

Keysight emissions reduction campaign is based on fiscal year 2019 emissions levels and aims to reach net-zero 10 years ahead of the Paris Agreement goal of 2050. The company has a 2030 interim goal of 55 percent renewables and a 10 percent energy reduction for the halfway mark. Keysight’s strategic tactics include improving maintenance schedules, initiating company-wide conservation projects, electrifying their fleet and processes, implementing on-site renewable energy installations, partnering with green utility providers and facilitating impactful Power Purchase Agreements.

About Keysight Technologies

Keysight delivers advanced design and validation solutions that help accelerate innovation to connect and secure the world. Keysight's dedication to speed and precision extends to software-driven insights and analytics that bring tomorrow's technology products to market faster across the development lifecycle, in design simulation, prototype validation, automated software testing, manufacturing analysis, and network performance optimization and visibility in enterprise, service provider and cloud environments. Our customers span the worldwide communications and industrial ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics markets. Keysight generated revenues of $4.2B in fiscal year 2020. For more information about Keysight Technologies (NYSE: KEYS), visit us at www.keysight.com.

Additional information about Keysight Technologies is available in the newsroom at https://www.keysight.com/go/news and on Facebook, LinkedIn, Twitter, and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210923005695/en/

Geri Lynne LaCombe, Americas/Europe

+1 303 662 4748

geri_lacombe@keysight.com

Fusako Dohi, Asia

+81 42 660-2162

fusako.dohi@keysight.com

Source: Keysight Technologies, Inc.

FAQ

What is Keysight Technologies' commitment to the Science Based Targets initiative?

Keysight Technologies has committed to the SBTi to align its emissions reduction goals with efforts to limit global warming to 1.5°C.

When does Keysight aim to reach net zero emissions?

Keysight aims to achieve net zero emissions in company operations by the end of fiscal year 2040.

What are Keysight Technologies' interim targets for emissions reduction?

Keysight's interim targets include achieving 55% renewable energy use and a 10% reduction in energy consumption by 2030.

How does Keysight plan to achieve its emissions reduction targets?

Keysight will implement strategies such as fleet electrification, on-site renewable energy installations, and partnerships with green utility providers.