Genuit Group Achieves Science-Based Target Certification for Sustainable Growth
Genuit Group has been leading by example when it comes to making sustainability a top priority, recently achieving the Approved Science-Based Target certification.
This recognition by the Science-Based Targets initiative (SBTi) confirms that Genuit Group is committed to fighting climate change by aligning our greenhouse gas (GHG) emissions reduction targets with a 1.5°C trajectory.
What is the 1.5°C Trajectory?
The Intergovernmental Panel on Climate Change (IPCC) Special Report 2018 stated that avoiding the worst effects of climate breakdown is only possible if global temperature increase is capped at 1.5°C. To achieve this, emissions must be halved before 2030 and reach net-zero before 2050.*
This blog will explore the significance of this certification and how Genuit Group’s sustainable practices continue to contribute to a greener future.
What is the Science-Based Targets Initiative?
The Science-Based Targets initiative is a collaborative effort between the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the Worldwide Fund for Nature (WWF).
It provides a framework for companies to set science-based targets in line with the goals of the Paris Agreement. By aligning emissions reduction goals with scientific evidence, businesses around the globe can make significant contributions to limiting global warming to 1.5°C, avoiding the most catastrophic impacts of climate change.
Our Certifications and Targets
It was confirmed in May 2023 that Genuit Group had successfully met the SBTi Criteria and Recommendations, Version 5. Our approved target commits to reducing absolute scope 1 and 2 GHG emissions by 30% from a 2021 base year, aiming for completion by 2027. This is an ambitious goal which reflects our dedication to minimising our carbon footprint and actively addressing climate change.
In addition to emissions reduction, we have committed to increasing our annual sourcing of renewable electricity from 94% in 2021 to 100% by 2027 through to 2030. This demonstrates our commitment to pursuing clean energy sources where possible, and our support for the global expansion of renewable energy.
Genuit Group is also actively engaging our suppliers in sustainable practices. By 2027, we aim to ensure that 83% of our suppliers, covering purchased goods and services, have science-based targets in place.
Our efforts towards obtaining the Approved Science-Based Target certification highlights our commitment to responsible business practices. It is a huge step towards the dramatic reduction of our environmental impact.
The certification serves to strengthen our reputation as a socially conscious organisation, therefore attracting like-minded partners, clients, and investors. This acknowledgement places Genuit Group among the best performing global leaders in corporate sustainability.
In an ever-evolving business landscape, companies that can demonstrate their commitment to sustainability are more likely to thrive.
Examples of flourishing enterprises that demonstrate dedication to their sustainability initiatives; Unilever, whose pledge entails making 100% of their plastic packaging reusable, recyclable, or compostable by 2025.* Similarly, Apple has attained a remarkable milestone by exclusively operating on 100% renewable energy sources.*
By committing to ambitious emissions reduction targets, increasing renewable energy sourcing, and engaging suppliers in sustainable practices, Genuit Group sets a benchmark for other organisations to follow the global movement towards a more resilient world.
Follow our blog to keep up with our journey towards fully sustainable operations.
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