Glasgow-based global engineering and mining giant Weir Group announced on Friday a major commitment to the Science Based Targets initiative (SBTi) in which the group will set emissions reduction targets aligned with the Paris Agreement on climate change.
The Science Based Targets initiative is a widely respected framework for certifying corporate climate policies.
The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
Weir Group is one of Scotland’s biggest listed companies and it employs more than 11,000 people around the world.
“This new commitment to strengthen our targets is an important step in Weir’s strategy as we challenge ourselves to further reduce emissions from our own operations and in our wider value chain,” said Weir.
“We believe doing this is right for the world and for our business.
“We have a responsibility, and a shared interest, 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.
“We already have ambitious Scope 1 and 2 CO2e targets, covering Weir’s own operations.
“But as we look at our broader value chain, CO2e emissions beyond our own facilities (Scope 3) are dominated by the use of our products and solutions in our customers’ operations.
“Engineering innovative products and solutions that significantly drive down those emissions will not only deliver Weir’s climate ambition but also that of our customers, and some of our technologies already offer energy savings of up to 40%.
“We expect to publish our updated targets and have them validated during 2022.
“Further innovation to reduce energy consumption per tonne of ore processed will help drive emissions down.
“But meeting SBTi expectations will also require broader energy transformation in mining and we are ready to partner with customers and the industry to help make that happen.”
Weir Group CEO Jon Stanton said: “Weir technology has been at the heart of transforming industries throughout our 150-year history and we have unique expertise in developing solutions that will help make mining more sustainable.
“Transforming the environmental footprint of the mining sector will not be easy but it is essential.
“Adopting science-based targets sees us stepping up our commitment to our customers, and society, to work in partnership to develop the solutions needed to tackle climate change head on.”