Veralto Announces Climate Targets Validated by the Science Based Targets initiative
Veralto’s SBTi-validated climate targets tighten Scope 1, 2 and 3 goals while already delivering a 22% cut in operational emissions since 2023.
Rhea-AI Summary
Veralto (VLTO) received validation from the Science Based Targets initiative (SBTi) for its near-term greenhouse gas (GHG) emissions reduction targets.
With this validation, Veralto has set new targets that 60% of its suppliers will have science-based targets by 2030 and that Scope 3 GHG emissions from use of sold products will decline 61% per USD value added by 2033 from a 2024 base year. Previously set targets include a 54.6% reduction in combined Scope 1 and 2 emissions by 2033 from a 2023 base year. The company reports a 22% reduction in total Scope 1 and 2 emissions since 2023.
Veralto states that its SBTi-validated targets are aligned with a 1.5°C climate scenario and assume continued business growth.
Positive
- SBTi validation confirms Veralto’s near-term GHG reduction targets meet science-based criteria
- 60% of suppliers targeted to have science-based climate goals by 2030
- 61% reduction target for Scope 3 use-of-sold-products emissions per USD value added by 2033 vs 2024
- 54.6% targeted cut in combined Scope 1 and 2 emissions by 2033 vs 2023
- 22% reduction already achieved in total Scope 1 and 2 emissions since 2023
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SBTi approval affirms Veralto's climate strategy, enabling new near-term targets
As a result, Veralto has set new SBTi-validated near-term targets:
- New targets:
- Veralto commits that
60% of suppliers1 will have a science-based target by 2030. - Veralto commits to reducing Scope 3 GHG emissions from Use of Sold Products by
61% per USD value added2 by 2033 (from a base year of 2024).
- Veralto commits that
- Previously announced targets:
- Veralto commits to reducing combined Scope 1+2 GHG emissions by
54.6% by 2033 (from a base year of 2023).3
- Veralto commits to reducing combined Scope 1+2 GHG emissions by
"Veralto's climate targets reflect our commitment to significantly reduce emissions from our businesses over time," said Jennifer L. Honeycutt, President and Chief Executive Officer, Veralto. "By delivering on these climate targets, our businesses will provide increased value for customers and end-users while helping to protect the planet for future generations."
Validation by SBTi confirms that Veralto's near-term targets meet independent science-based decarbonization criteria. Veralto's targets are aligned with a 1.5°C climate change scenario and assume continued growth of its businesses over time.
"Driven by our culture of operational rigor and continuous improvement, we have made steady progress on our targets since setting our Scope 1+2 goals," said Surekha Trivedi, Senior Vice President, Strategy and Sustainability, Veralto. "Today's announcement reflects our team's unwavering commitment to advancing a sustainable future."
Since 2023, Veralto has reduced total Scope 1+2 GHG emissions from its operations by
Learn more about Veralto's sustainability performance at Veralto.com/Sustainability.
ABOUT VERALTO
With annual sales of approximately
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking" statements within the meaning of the federal securities laws, including statements regarding the expected benefits, timing, impact and future performance associated with the matters described herein, and other statements regarding events or developments that Veralto believes or anticipates may occur in the future. Forward-looking statements are based on current expectations, assumptions and estimates and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings. These forward-looking statements speak only as of the date of this release and except to the extent required by applicable law, Veralto does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
1 As measured by supplier GHG emissions in the Purchased Goods & Services category (Scope 3, category 1).
2 "USD value added = gross profit.
3 Scope 1+2 GHG commitment was announced in 2024. The portion of Veralto's goal covering Scope 2 GHG emissions refers to Market-Based emissions.
View original content to download multimedia:https://www.prnewswire.com/news-releases/veralto-announces-climate-targets-validated-by-the-science-based-targets-initiative-302881147.html
SOURCE Veralto
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does SBTi validation mean for Veralto’s climate goals?
SBTi validation means Veralto’s near-term climate targets meet independent science-based decarbonization criteria. The company states that these targets are aligned with a 1.5°C climate scenario and incorporate expectations of continued growth in its businesses.
From which base years are Veralto’s new emissions targets measured?
The target to reduce Scope 3 emissions from use of sold products by 61% per USD value added is measured from a 2024 base year, while the 54.6% reduction target for combined Scope 1 and 2 emissions by 2033 uses a 2023 base year.
How has Veralto reduced Scope 1 and 2 emissions by 22% since 2023?
Veralto attributes the 22% reduction in total Scope 1 and 2 emissions since 2023 to expanded use of renewable energy, increased deployment of electric and hybrid service fleet vehicles, reduced fossil fuel usage, and applying Veralto Enterprise System tools for continuous improvement and energy efficiency.
Where can stakeholders find more details on Veralto’s sustainability performance?
Additional information on Veralto’s sustainability performance is available at Veralto.com/Sustainability, as indicated by the company.