The Weir Group PLC has had its new, more ambitious emissions reduction targets approved by the Science Based Targets initiative (SBTi).
The targets, announced back in July 2022, cover greenhouse gas (GHG) emissions from Weir’s own operations (Scope 1 & 2) and value chains (Scope 3).
Its SBTi approved near-term science-based emissions reduction targets are to:
- Reduce absolute Scope 1 & 2 GHG emissions by 30% by 2030 from a 2019 base year; and
- Reduce absolute Scope 3 GHG emissions from use of sold products by 15% within the same timeframe.
The company said: “We believe that challenging ourselves to further reduce emissions from our own operations and in our wider value chain is right for the world and for our business. We have a responsibility to minimise carbon emissions to help protect the future of the planet, aligned with our purpose to enable the sustainable and efficient delivery of the natural resources essential to create a better future for the world.”
Weir Group says it has already made good progress towards its targets, having reduced its Scope 1 & 2 GHG emissions by a cumulative 17% since 2019. In the company’s broader value chain, the overwhelming majority, 97%, of Weir Group’s Scope 1, 2 & 3 combined footprint is attributable to the use phase of its long-lifespan products and solutions on customer sites. These are, in turn, considered its customers’ Scope 1 & 2 emissions, which make for a shared goal to reduce that footprint. Weir Group says its latest technologies are already offering customers energy savings of up to 40%.
Weir’s technology and R&D roadmap is focused on five key themes, with voice of customer at its core: Move less rock; Use less energy; Use water wisely; Create less waste; and Boost with digital. Further innovation to reduce energy consumption per tonne of ore processed will help reduce emissions from mining even further.
Jon Stanton, CEO of the Weir Group, said: “The world is not moving fast enough to avoid the consequences of climate change. We know the crucial role of metals in low-carbon technologies which is why accelerated, collective action is needed to transform the way metals are mined and produced. Mining needs to scale up and clean up, and Weir’s engineered solutions have an important role to play in achieving that. The approval by SBTi of our near-term science-based greenhouse gas reductions targets reinforces our commitment to make mining smart, efficient and sustainable.”