Fenergo Commits to SBTi
Key takeaways
- Fenergo announced its adoption of the Science-based Targets initiative (SBTi) for carbon monitoring, control and disclosure.
- Science-based targets align with climate science to meet the Paris Agreement goals of limiting warming to 1.5°C and reaching net zero by 2050.
- Fenergo signed up to initiatives aligned with Scopes 1, 2 and 3 emissions to support UN Sustainable Development Goals.
- CEO Marc Murphy described becoming carbon-neutral as a long journey pursued through incremental operational changes.
The Journey to Net Zero Begins
In a bid to further increase its sustainability efforts, Fenergo, the leading provider of digital KYC and Client Lifecycle Management software solutions, has announced the adoption of Science-based Targets initiative (SBTi) for more transparent and granular carbon monitoring, control and disclosure.
Science-based targets are roadmaps that show how much and how quickly companies need to reduce their greenhouse gas emissions to prevent the worst impacts of climate change. They are ‘science-based’ because they align with the requirements of the latest climate science that are necessary to meet the goals of the Paris Agreement:
- Limiting global warming to 1.5°C above pre-industrial levels
- Reaching the net zero carbon goal by 2050.
Fenergo has signed up to a set of initiatives aligned with Scopes 1, 2 and 3 to drive alignment of its global operations towards UN Sustainability Development Goals (SDG) These involve a mixture of both short-term and long-term targets under the guidance of SBTi, with a view to reaching net-zero CO2 emissions by 2050.
By signing up to and achieving SBTI targets and reducing Scope 1, 2 and 3 emissions, Fenergo will contribute to multiple Sustainability Development Goals (SDGs) both directly (such as SDG 13 for climate action) and indirectly (such as SDG 7 for affordable and clean energy, and SDG 12 for responsible production and consumption).
Commenting on its commitment to SBTi, Fenergo’s CEO, Marc Murphy, said:
“Becoming carbon-neutral is a long journey but one that starts here and now. This is not a temporary solution but one where we will continue to adapt, change and transform by making ever-increasing incremental efforts to change how we live, work and operate as a global business today. Over time, we will become a radically different business by making these incremental changes to our operations that will have a lasting and positive impact on our environment and our world. As an ambitious company, we won’t shy away from ambitious targets that gets us to carbon-neutral even sooner.”
