Landis+Gyr Joins Science Based Target Initiative to Further Reduce Carbon Emissions

Rhea-AI Summary

Landis+Gyr has committed to joining the Science Based Target initiative (SBTi) to set science-based targets for reducing carbon emissions. Following a previous announcement to achieve carbon neutrality by 2030, the company aims to set both near-term and long-term emission reduction goals in line with the Paris Agreement. Since 2007, Landis+Gyr has reduced its carbon footprint by 47% and helped avoid over 9 million tons of CO₂ emissions in 2021. The SBTi commitment will enhance efforts in reducing emissions within operations and the supply chain.

Positive

• Commitment to the Science Based Target initiative signals a strong focus on sustainability and carbon reduction.
• Achieved a 47% reduction in carbon emissions since 2007.
• Helped avoid over 9 million tons of CO2 emissions in FY 2021.

Negative

• None.

Landis+Gyr has committed to setting science-based targets to further reduce carbon emissions in line with the level of decarbonization required to meet the goals of the Paris Agreement

CHAM, Switzerland, April 22, 2022 /PRNewswire/ -- Following last year's announcement to become carbon neutral by 2030, Landis+Gyr (SIX: LAND) has signed the commitment letter to join the Science Based Target initiative (SBTi). This pledge will see the Company set ambitious science-based targets, both near-term (in 5 to 10 years) and long-term (by 2050). These efforts follow Landis+Gyr's purpose to manage energy better for a greener tomorrow and are in line with the Paris Agreement, limiting global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.

In 2007, Landis+Gyr started to measure and closely manage its carbon footprint. Since then, the Company has achieved a 47% reduction of its carbon emissions. In addition, Landis+Gyr tracks the positive impact of its global Smart Metering base of more than 125 million connected intelligent devices on a yearly basis. In the financial year 2021, the state-of-the-art technologies and solutions helped avoid more than 9 million tons of CO₂ emissions. The commitment to the SBTi will further drive efforts to reduce carbon emissions within its operations (Scopes 1 and 2) and to support the decarbonization of the supply chain (Scope 3) by setting ambitious targets and developing a roadmap to achieve them.

"Sustainability is part of our DNA and an integral part of our values, mission and strategy. Our commitment to the Science Based Target initiative is the next step in our sustainability journey," said Werner Lieberherr, Chief Executive Officer at Landis+Gyr. "As a leading global provider of energy management solutions, we actively drive progress on environmental, social and governance issues and are proud to be part of the global efforts to decarbonize the grid."

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 and financial institutions 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) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.

About Landis+Gyr

Landis+Gyr is a leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios, we deliver innovative and flexible solutions to help utilities solve their complex challenges in Smart Metering, Grid Edge Intelligence and Smart Infrastructure. With sales of USD 1.4 billion in FY 2020, Landis+Gyr employs around 5,000 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better.

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Contacts:

Melissa van Anraad
Head of PR 
+41 41 935 63 98 
melissa.vananraad@landisgyr.com

Investor inquiries: ir@landisgyr.com
Media inquiries: pr@landisgyr.com

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SOURCE Landis+Gyr

FAQ

What is Landis+Gyr's commitment to carbon emissions reduction?

Landis+Gyr has committed to the Science Based Target initiative to set ambitious targets for reducing carbon emissions in line with the Paris Agreement.

How much has Landis+Gyr reduced its carbon emissions?

Landis+Gyr has achieved a 47% reduction in carbon emissions since 2007.

What were the CO2 emissions avoided by Landis+Gyr in 2021?

In the financial year 2021, Landis+Gyr helped avoid over 9 million tons of CO2 emissions.

What is the target year for Landis+Gyr to achieve carbon neutrality?

Landis+Gyr aims to become carbon neutral by 2030.

What does the Science Based Target initiative aim to achieve?

The SBTi focuses on enabling businesses to set ambitious emissions reduction targets to halve emissions before 2030 and achieve net-zero emissions before 2050.