AVEVA in world’s first 50 companies to have net-zero target

AVEVA, a global provider of industrial software that drives digital transformation and sustainability, is one of the world’s first companies in its industry to have its net-zero commitments validated by the Science Based Targets initiative (SBTi).

The SBTi’s Corporate Net-Zero Standard, which will be issued in October 2021, lays out clear requirements for companies to ensure their goals align with the international scientific community’s requirements to decarbonize and limit global warming to 1.5°C.

Peter Herweck, CEO of AVEVA, said: “I am proud that AVEVA is one of the first 50 companies globally to have our net-zero targets validated as being fully aligned with what climate science requires to fight climate change. It is important to lead by example on climate action. Our core business is software that helps global industries drive responsible use of the world’s resources but how we do business also matters and we are committed to decarbonizing our entire value chain.

AVEVA has committed to:

• maintain at least 90% absolute scope 1 and 2 greenhouse gas (GHG) emission reductions post FY2030 and to reduce absolute scope 3 GHG emissions 90% by FY2050 (from a FY2020 base year)
• increase annual sourcing of renewable electricity to 100% in the next eight years and reduce absolute scope 3 GHG emissions 50% by the same time frame

Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative, said: “Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change. AVEVA’s net-zero targets match the urgency of the climate crisis and set a clear example that their peers must follow.”

AVEVA’s overall net-zero target and new long-term greenhouse gas reduction targets build on the company’s ambitious FY2030 targets, which have also been validated as climate science-aligned by SBTi. To maintain a 1.5°C future, the company has moved quickly to ensure that all AVEVA offices are powered by Renewable Energy by FY2022, up from 1% in FY2020, and is scoping efficiency upgrades across top sites based on energy consumption. The company has also committed to electrifying its entire car fleet by FY2030.

To reduce downstream scope 3 emissions associated with AVEVA software use, the company is accelerating its cloud strategy in collaboration with providers who have committed to sourcing 100% renewable energy. In addition, the company is benchmarking the efficiency and energy consumption of its software as a step toward incorporating requirements into development processes and promoting green product design principles. AVEVA also joined the Green Software Foundation last year to contribute to an industry-wide reduction in carbon emissions through shared learnings and standards.

To address upstream scope 3 emissions, including those from business travel, the company has updated its global travel policies and is working with other companies through the First Movers Coalition to accelerate the development and delivery of the next generation of sustainable aviation fuels. Through the CDP supply chain program, the gold standard of environmental reporting, AVEVA is collaborating with its top strategic suppliers on emissions measurement and reduction. In addition, it is collaborating with all data center providers to ensure ongoing alignment with its climate goals and net-zero strategy.