Linde's Climate Goal Approved by Science Based Targets Initiative

Rhea-AI Summary

Linde (NYSE:LIN) has received approval from the Science Based Targets initiative (SBTi) for its 2035 absolute emissions reduction target. The company aims to reduce greenhouse gas emissions by 35% by 2035 compared to 2021 levels, aligned with the Paris Accords. Linde plans to triple its procurement of renewable energy, utilize renewable feedstocks, and implement carbon capture and storage (CCS) projects. Additionally, the company aims for climate neutrality by 2050 and is currently developing CCS projects in the U.S. Gulf Coast.

Positive

• Approval of 2035 emissions reduction target by SBTi.
• Target to reduce scope 1 and 2 emissions by 35% by 2035.
• Comprehensive action plan includes tripling renewable energy procurement.
• Progress reported on developing CCS projects in the U.S. Gulf Coast.

Negative

• None.

WOKING, UK / ACCESSWIRE / October 20, 2022 / Linde (NYSE:LIN)(FWB:LIN) today announced that its 2035 absolute emissions reduction target has been approved by the Science Based Targets initiative (SBTi).

The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). It defines and promotes best practices in science-based target setting. Following a rigorous review process, the SBTi has confirmed that Linde's near-term target to reduce absolute scope 1 and 2 greenhouse gas emissions 35% by 2035 versus 2021 is aligned with the goals set out by the Paris Accords.

Announced last year, Linde's 2035 climate target is supported by a comprehensive action plan which includes tripling Linde's procurement of renewable and low carbon energy, using renewable feedstocks and implementing several carbon capture and storage (CCS) projects. Linde is already making progress against its target, including developing CCS projects in the U.S. Gulf Coast. Linde has also announced its ambition to achieve climate neutrality by 2050.

"Addressing climate change is one of the highest priorities for Linde and we are proud to receive this validation from the SBTi," said Tamara Brown, Vice President Sustainability, Linde. "Through our technologies and services, Linde is playing a vital role in the energy transition and is working with its customers to help decarbonize the planet."

About Linde

Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.

The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.

For more information about the company and its products and services, please visit www.linde.com.

Contacts:

Investor Relations
Juan Pelaez
Phone: +1 203 837 2213
Email: juan.pelaez@linde.com

Media Relations
Anna Davies
Phone: +44 1483 244705
Email: anna.davies@linde.com

SOURCE: Linde plc

View source version on accesswire.com:
https://www.accesswire.com/721308/Lindes-Climate-Goal-Approved-by-Science-Based-Targets-Initiative

FAQ

What is Linde's emissions reduction target for 2035?

Linde aims to reduce absolute greenhouse gas emissions by 35% by 2035 compared to 2021 levels.

Who approved Linde's climate goal?

Linde's climate goal was approved by the Science Based Targets initiative (SBTi).

What are Linde's plans for renewable energy?

Linde plans to triple its procurement of renewable and low carbon energy as part of its climate strategy.

When does Linde aim to achieve climate neutrality?

Linde aims to achieve climate neutrality by 2050.

What projects is Linde working on related to emissions?

Linde is developing carbon capture and storage (CCS) projects in the U.S. Gulf Coast.