SBTi validates Wolters Kluwer near-term emission reduction targets

Rhea-AI Summary

Wolters Kluwer (WTKWY) has received validation from the Science Based Targets initiative (SBTi) for its near-term science-based emissions reduction targets, aligning with the COP21 Paris Agreement and the COP26 Glasgow Climate Pact. The company is committed to reducing its environmental impact and has set long-term emission reduction targets with the SBTi in line with reaching net-zero by 2050. The validated emissions reduction targets include reducing absolute scope 1 and 2 GHG emissions by 50% and scope 3 GHG emissions by 30% by 2030 from a 2019 base year. Efforts to achieve these targets involve reducing energy consumption from offices, moving to renewable electricity, and decarbonizing the supply chain. Wolters Kluwer aims to inform stakeholders of its progress in its Annual Reports.

Positive

• Validation of near-term science-based emissions reduction targets by SBTi
• Commitment to minimizing environmental impact in line with global climate agreements
• Setting long-term emission reduction targets with SBTi to reach net-zero by 2050
• Efforts to reduce scope 1, 2, and 3 GHG emissions including reducing energy consumption and decarbonizing the supply chain

Negative

• None.

PRESS RELEASE

SBTi validates Wolters Kluwer near-term emission reduction targets

Alphen aan den Rijn – December 1, 2023 – Wolters Kluwer today announced that the Science Based Targets initiative (SBTi) has approved its near-term science-based emissions reduction targets.

Wolters Kluwer is committed to minimizing its impact on the environment, in line with the COP21 Paris Agreement and the COP26 Glasgow Climate Pact on limiting global warming. The company also committed earlier in 2023 to set long-term emission reduction targets with the SBTi in line with reaching net-zero by 2050.

“SBTi validation of our greenhouse gas (GHG) emissions reduction targets provides clear goals, as we commit to minimizing our environmental footprint,” said Nancy McKinstry, CEO and Chair of the Executive Board, Wolters Kluwer. “As a company with market leading ESG solutions, within our Corporate Performance and ESG division, we are committed to reducing the environmental impact of our own operations and value chain, while delivering sustainable growth for our stakeholders.”

SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Initiative (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practices in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. It is the global Net-Zero Standard for corporate climate action.

Based on the company’s GHG assessment, Wolters Kluwer has developed abatement plans to reduce GHG emissions in line with a pathway to limit global warming to 1.5°C. The validated emissions reduction targets are:

• Reduce absolute scope 1 and 2 GHG emissions 50% by 2030 from a 2019 base year
• Reduce absolute scope 3 GHG emissions 30% by 2030 from a 2019 base year.

The company’s scope 1 and 2 GHG emissions reduction target is mainly related to energy consumption from its offices, and the scope 3 GHG emissions reduction target covers value chain emissions from purchased goods and services, capital goods, upstream transportation and distribution, business travel and employee commuting.

Efforts to reduce scope 1 and 2 GHG emissions include reducing the company’s organic office footprint and moving to renewable electricity. Decarbonization of Wolters Kluwer’s supply chain will be key to reduce scope 3 emissions, implying a greater focus on engaging with suppliers. Over the coming years, the company will implement additional initiatives to reduce its scope 1, 2 and 3 GHG emissions in line with these targets, while continuing to inform stakeholders of progress in its Annual Reports.

A breakdown of scope 1, 2 and 3 GHG emissions for base year 2019 is available in Wolters Kluwer’s 2022 Annual Report (pages 51-56). Through its membership of The European Round Table for Industry, Wolters Kluwer is also a signatory of the CEO Climate Action Statement endorsed by CEOs and Chairs of leading global companies, available here.

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About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software, and services for professionals in healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.

Wolters Kluwer reported 2022 annual revenues of €5.5 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 20,900 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Facebook, and YouTube.

Media
Paul Lyon
Senior Director, External Communications
Global Branding & Communications
Wolters Kluwer
Tel: +44 20 3197 6586
Paul.Lyon@wolterskluwer.com

Rene Struijs
External Communications
Wolters Kluwer
Tel: +31 6 21616604
Rene.Struijs@wolterskluwer.com

Investors/Analysts
Meg Geldens
Vice President, Investor Relations
Wolters Kluwer
Tel: +31 (0)172-641-407
IR@wolterskluwer.com

Attachment

• 2023.112.01 SBTi validates Wolters Kluwer near-term emission reduction targets

FAQ

What is the significance of Wolters Kluwer's (WTKWY) validation by SBTi?

Wolters Kluwer's validation by SBTi signifies its commitment to science-based emissions reduction targets and aligning with global climate agreements such as the COP21 Paris Agreement and the COP26 Glasgow Climate Pact.

What are the specific emissions reduction targets validated by SBTi for Wolters Kluwer?

The validated targets include reducing absolute scope 1 and 2 GHG emissions by 50% and scope 3 GHG emissions by 30% by 2030 from a 2019 base year.

How does Wolters Kluwer plan to achieve its emissions reduction targets?

Efforts to achieve these targets involve reducing energy consumption from offices, moving to renewable electricity, and decarbonizing the supply chain.

Where can stakeholders find information on Wolters Kluwer's GHG emissions breakdown for the base year 2019?

A breakdown of scope 1, 2, and 3 GHG emissions for the base year 2019 is available in Wolters Kluwer’s 2022 Annual Report (pages 51-56).