Dentsu International is one of the first seven companies in the world to have its net-zero target validated according to a new standard announced yesterday (October 28) by the Science Based Targets initiative (SBTi).
Dentsu International’s commitment includes reducing its scope 1, 2, and 3 emissions of greenhouse gasses 46.2% by 2030 and 90% by 2040, with both reduction percentages based on 2019 emissions.
The other companies formally validated against the SBTi's new global Net-Zero Standard are AstraZeneca, CVS Health, Holcim, JLL, Orsted and Wipro.
The new standard aims to bring more consistency to net-zero commitments from companies, by providing a common, robust, science-based benchmark, according to SBTi.
"Companies are currently self-defining net-zero targets without credible and independent assessment of their ambition and integrity," Alberto Carrillo Pineda, co-founder and managing director of the SBTi, said in a release. "For the first time, the SBTi Net-Zero Standard offers companies robust certification to demonstrate to consumers, investors and regulators that their net-zero targets are reducing emissions at the pace and scale required to keep global warming to 1.5°C. We’re now inviting all companies with net-zero targets and ambitions to show stakeholders that their decarbonization pathway is aligned with science."
Under the standard, companies reach net-zero when they have achieved their long-term, science-based target, which requires 'deep decarbonization' of 90% to 95% before 2050 for most companies.
"At Dentsu we are proud to be one of the first companies to have our net-zero target validated by the SBTi," Wendy Clark, CEO of Dentsu International, said in a release. "The IPCC report shows that long-term action on carbon is essential to limit the worst impacts of climate change. Our new long-term plan sets an ambition that matters to our people, our clients and society. It will require innovation, diversity of thought, creativity and multi-sector collaboration. That’s the type of challenge our 45,000+ people embrace."
Anna Lungley, Dentsu International's chief sustainability officer, dentsu said the new SBTi standard will create alignment, facilitate investment and most importantly, drive action. "At Dentsu we are committed to the most ambitious level of climate action and won’t claim net-zero until we get there.”
This story first appeared on Campaign Asia-Pacific.