On the Right Track: Tencent Receives SBTi Validation for its GHG Emissions Reduction Targets
Tencent’s near-term science-based corporate greenhouse gas (GHG) emissions reduction targets have been approved by the Science Based Targets initiative (SBTi), a global authority that helps companies define and promote best practices in reducing emissions and setting targets in line with climate science.
With climate change a pressing reality that requires action on all fronts, Tencent announced its carbon neutrality plan in January 2021, followed by its targets and roadmap in February 2022 where the company pledged to become carbon neutral across its own operations and supply chain by no later than 2030. It also said 100 percent of the energy it uses would be from renewable resources by then.
The SBTi validation covers Tencent’s absolute GHG emissions reduction targets that cover the direct and indirect emissions in its own operations (Scope 1 and 2), as well as emissions from its supply chain (Scope 3). SBTi has affirmed that these targets are consistent with the 1.5°C pathway, the most primary goal set by the 2015 Paris Climate Change Agreement.
The setting of the absolute emissions reduction targets clarifies our decarbonization pathway. With 2021 as the base year, Tencent aims to achieve 70 percent reduction in absolute Scope 1 and 2 emissions, and a 30 percent reduction in absolute Scope 3 emissions by 2030.
We are committed to the low-carbon pledge. We reduce our carbon emmisions by improving energy efficiency, using renewable energy and other ways. In the meantime, we also explore and support the development of low-carbon technologies to help users, industries, and communities transition to a low-carbon future. These progressions are detailed in our annual ESG report.
The SBTi is a global body established to support businesses to set ambitious emissions reduction targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. The initiative is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.