Our net zero target validated by the Science Based Targets initiative
Our net zero target validated by the Science Based Targets initiative
We are proud to share that the Science Based Targets Initiative (SBTi) has approved our long-term science-based emissions reduction target.
We’ve had our 2045 net zero target for our scope 1, 2 and 3 greenhouse gas emissions validated by the SBTi. This puts us five years ahead of the UK 2050 national net zero target.
- Our science-based net zero target has been validated by the Science Based Targets initiative
- New target is in addition to our existing science-based near-term targets and Race to Zero commitment
This means we will reduce absolute scope 1 and 2 greenhouse gas emissions by 90% by 2045 from a 2019 base year*. We also commit to reducing absolute scope 3 greenhouse gas emissions by 90% within the same timeframe.
Currently, 98% of our greenhouse gas emissions fall under scope 3, with 89% of these coming from the products and services we purchase from our supply chain. Reducing these emissions will play a major role in reducing total emissions, and we are working closely with our supply chain partners to identify and deliver the necessary carbon reductions.
The science-based net zero target is in addition to our existing near-term target which includes:
- reducing our absolute scope 1 and 2 emissions by almost half (46.2%) by the end of 2030 against a 2019 baseline*.
- a commitment that 89% of our suppliers (by emissions) covering purchased goods and services will have science-based targets by the end of 2027.
* The target boundary includes land-related emissions and removals from bioenergy feedstocks.
Our ambition is to exceed our near-term target, as part of the Race to Zero campaign.
Having our targets validated by the SBTi is an important step to ensuring their validity and demonstrates our commitment to improve the sustainability of our business.
Our science-based net zero target is particularly ambitious given the carbon-intensive industry in which we operate. The UK’s buildings currently account for 25% of the country’s total emissions, making decarbonisation of this sector both more challenging and more critical.
We look forward to engaging with colleagues across our entire value chain to minimise our impact on the environment and establish sustainable business models for years to come.
The validation of a net zero target demonstrates Wates’ broader leadership in this space. Earlier this year, Wates announced its Environmental Sustainability Plan which illustrates its’ principal targets and the actions necessary to drive change.”
Bekir Andrews
Interim ESG Director at Wates
