- Emissions reduction and net-zero targets validated by SBTi.
- Targets aligned with SBTi pathway to reach net-zero before 2050.
- Delivered a 29% emissions reduction during 2022.
EV Cargo, a leading global freight forwarding, supply chain services and technology company, has become the first logistics company in the UK to have its decarbonisation targets validated and approved by the Science Based Targets initiative (SBTi).
The SBTi has approved EV Cargo’s near and long-term science-based emissions reduction targets and has determined that they are in line with a 1.5°C trajectory.
The SBTi’s Target Validation team has also evaluated the company’s scope 1, 2, and 3 long-term target ambitions, and determined that they are aligned with the SBTi’s 1.5°C mitigation pathways for reaching net-zero by 2050 or sooner.
The EV Cargo targets approved by SBTi are:
- To reach net-zero GHG emissions across the value chain by 2050.
- To reduce absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2021 base year.
- To increase annual sourcing of renewable energy from 0% in base year 2021 to 100% by 2030.
- To reduce absolute scope 3 GHG emissions from upstream transportation and distribution 25% within the same timeframe.
- To reduce absolute scope 1 and 2 GHG emissions by 97% by 2050 from a 2021 base year.
- To reduce absolute scope 3 GHG emissions by 90% by 2050 from a 2021 base year.
EV Cargo’s sustainability strategy sees it prioritise direct emissions reductions with all residual emissions neutralised in line with SBTi criteria.
In 2022, EV Cargo successfully reduced its total greenhouse gas emissions by 29% from its 2021 baseline, from 542,332 tonnes in 2021 to 383,844 tonnes.
The SBTi is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to achieve net-zero emissions before 2050.
The initiative is a collaboration between CDP, the United Nations Global Compact, World
Resources Institute and the World Wide Fund for Nature and one of the We Mean Business Coalition commitments.
Virginia Alzina, EV Cargo Chief Sustainability Officer, said: “I am thrilled to announce that EV Cargo has become the first logistics company in the UK to have its decarbonisation targets validated by the SBTi, this is a significant achievement and milestone in our journey to net-zero.
“Our near-term and net-zero science-based sustainability targets have officially been approved by SBTi and this approval is not just a testament to our hard work and dedication but also a firm commitment to our environmental responsibility in these critical times described by the UN as a code red for humanity.
“In response to this urgent call, EV Cargo has committed to reducing its direct emissions and achieving net-zero before 2050 – all aligned to SBTi mitigation pathways. These commitments have been validated and approved by the SBTi, making us a part of a select group of logistics companies worldwide that are aligning their business strategies with the latest climate science.”