Keysight’s Near-Term Science-Based Targets Approved by the Science Based Targets Initiative

Rhea-AI Summary

Keysight Technologies, Inc. (NYSE: KEYS) commits to reducing absolute scope 1 and 2 greenhouse gas emissions by 42% by fiscal year 2030 from a fiscal year 2021 base year. The company's near-term science-based targets (SBTs) have been approved by the Science Based Targets initiative (SBTi), aligning with a 1.5°C trajectory and aiming to engage customers in setting their own SBTs. Keysight's strategy includes energy reduction, decarbonization of industrial processes, and sourcing renewable electricity. The company also plans to achieve net zero GHG emissions in scopes 1 and 2 by the end of fiscal year 2040.

Positive

• Keysight's commitment to reducing greenhouse gas emissions aligns with the latest climate science and demonstrates its proactive approach to addressing climate change. The approval of its near-term science-based targets by SBTi enhances the company's credibility and commitment to environmental sustainability.

Negative

• None.

• Demonstrates company alignment with the latest climate science
• Keysight commits to reducing absolute scope 1 and 2 greenhouse gas emissions 42% by fiscal year 2030 from a fiscal year 2021 base year

 

SANTA ROSA, Calif.--(BUSINESS WIRE)-- Keysight Technologies, Inc. (NYSE: KEYS) announced that its near-term science-based targets (SBTs) have been approved by the Science Based Targets initiative (SBTi). The targets provide a clear objective for the company’s strategy to reduce operational greenhouse gas (GHG) emissions in line with a 1.5°C trajectory and to engage customers in setting their own SBTs.

An increased global temperature presents significant economic, social, and environmental challenges. Rapid emissions reductions are necessary to mitigate the worst impacts of climate change and limit global warming to 1.5°C.

Keysight commits to reducing absolute scope 1 and 2 GHG emissions 42% by fiscal year 2030 from a fiscal year 2021 base year. Keysight also commits that 73% of its customers by emissions covering use of sold products, will have science-based targets by fiscal year 2028.

Keysight’s scope 1 and 2 operational emissions reduction strategy includes energy reduction through efficiency and conservation measures, decarbonization of industrial processes, and sourcing renewable electricity worldwide. In 2022, the company completed the first comprehensive calculation of its scope 3 indirect emissions and identified the use of sold products category as the most significant. Keysight will work with its customers to provide guidance and support on setting SBTs to reduce emissions.

In addition to the approved near-term SBTs, Keysight remains committed to achieving net zero GHG emissions in scopes 1 and 2 by the end of fiscal year 2040. Keysight reports on its progress towards net zero emissions in the company’s annual Corporate Social Responsibility (CSR) Report and plans to include future progress on its approved near-term SBTs. Keysight’s near-term targets are listed on the SBTi website.

Ingrid Estrada, Chief Administrative Officer and Chief of Staff, Keysight said: “The private sector must take meaningful action to do its part in limiting global temperature rise to 1.5°C. By validating targets through the SBTi we are demonstrating our alignment with the latest climate science, meeting stakeholder expectations, strengthening business continuity and resilience, and engaging our value chain.”

Resources

• Keysight’s CSR Report
• Keysight’s Response to Climate Change
• Keysight CSR Website

About Keysight Technologies

At Keysight (NYSE: KEYS), we inspire and empower innovators to bring world-changing technologies to life. As an S&P 500 company, we’re delivering market-leading design, emulation, and test solutions to help engineers develop and deploy faster, with less risk, throughout the entire product lifecycle. We’re a global innovation partner enabling customers in communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics markets to accelerate innovation to connect and secure the world. Learn more at Keysight Newsroom and www.keysight.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231116702166/en/

Paul Erwin

Americas

+1 248 430 9075

paul.erwin@keysight.com

Fusako Dohi

Asia

+81 42 660-2162

fusako_dohi@keysight.com

Jenny Gallacher

Europe

+44 (0) 7800 737 982

jenny.gallacher@keysight.com

Source: Keysight Technologies, Inc.

FAQ

What are Keysight Technologies, Inc.'s (NYSE: KEYS) greenhouse gas emissions reduction targets?

Keysight Technologies, Inc. (NYSE: KEYS) commits to reducing absolute scope 1 and 2 greenhouse gas emissions by 42% by fiscal year 2030 from a fiscal year 2021 base year, aligning with a 1.5°C trajectory.

How does Keysight plan to achieve its greenhouse gas emissions reduction targets?

Keysight's strategy includes energy reduction through efficiency and conservation measures, decarbonization of industrial processes, and sourcing renewable electricity worldwide.

What is Keysight's plan regarding net zero GHG emissions?

Keysight plans to achieve net zero GHG emissions in scopes 1 and 2 by the end of fiscal year 2040.