MONTREAL – Cogeco Inc. announced this week that its new emissions reduction targets have been approved by the Science Based Targets initiative (SBTi).
The new targets are “consistent with levels required to meet the most ambitious goal of the Paris Agreement,” reads the release.
SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature that defines and promotes best practice in science-based target setting and independently assesses companies’ targets, explains Cogeco’s announcement. “This makes Cogeco the first and only telecommunications company in Canada with SBTi-approved targets.”
Cogeco has committed to the following targets, which cover emissions from its operations and from its value chain:
- Reduce emissions from operations by 65% by 2030 (from 2019)
- Ensure 50% of its suppliers (based on expenditures) will set science-based emissions reduction targets by 2025
- Reduce emissions from the use of its products and from employee commuting by 30% by 2030 (from 2019).
“Being the first and only telecommunications company in Canada to have this stamp of approval is not only proof of our commitment to climate action and sustainable growth, it also serves to highlight our leadership and the rigour of our approach,” said Philippe Jetté, Cogeco’s president and CEO.
“Cogeco’s target covering greenhouse gas emissions from its operations is consistent with reductions required to keep global warming to 1.5°C, which is needed to prevent the most damaging effects of climate change according to the latest climate science. This makes Cogeco one of less than 300 companies worldwide with targets at this highest level of ambition. In addition, targets for the emissions of its value chain meet the SBTi’s criteria for ambitious value chain goals, meaning they are in line with current best practice,” continues the announcement.
For the full announcement, please click here.
