Scatec ASA’s climate targets were approved by the Science Based Targets initiative (SBTi) in January 2023, showing the company’s commitment to drive sustainable growth by setting ambitious, science-based emissions reduction targets.
“We are very pleased to have received the approval of our science-based net zero target by SBTi. We set our climate ambitions in line with the latest climate science from the IPCC to limit warming to 1.5 degrees, requiring Scatec to minimise direct emissions by 2030 and achieve net zero emissions across our value chain by 2040, from a 2019 base year. We now look forward to continuing this critical journey and playing our role as a key renewable energy company in emerging markets,”
Near-Term Targets (from a 2019 base year)
Long-Term Targets (from a 2019 base year)
“During 2022, we focused on internal communication of the climate targets, integrating climate requirements into existing development and procurement processes, as well as identifying and analysing emission reduction activities across the existing project portfolio. Our net zero strategy details key initiatives within scope 1, 2 and 3 to reach these targets, and we are ready to do the work needed to reach these ambitions,” says Scatec EVP Sustainability, HSSE & Quality Roar Haugland.
Scatec’s Scope 1 emissions comprise fuel for vehicles and generators, as well as leakages of coolant and insulating gas fugitive emissions of sulphur hexafluoride (SF6) from electrical equipment on project sites. Scope 2 emissions include electricity usage from the grid for operations and maintenance buildings, corporate offices and auxiliary services. Scatec’s most material Scope 3 categories include the purchase of components, upstream transportation and hydropower investments. In 2019, Scatec’s emissions (CO2e) were: 1,987 tonnes in scope 1; 6,682 tonnes in scope 2 (market-based); and 345,035 tonnes in scope 3.
The Science Based Targets initiative has verified Scatec’s net-zero science-based targets by 2040. After a thorough assessment, the Target Validation Team concluded that the near and long-term targets against the SBTi net-zero criteria are in line with a 1.5°C trajectory.
The initiative is a collaboration between the 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. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.
Refer to our ESG Performance Report 2022 and Net Zero Strategy 2022 available on our corporate website.