Sustainable Surge: ABB's Bold Net-Zero Agenda

ABB
ABBImage Source: ABB

Synopsis:

ABB, a pioneer in electrification and automation for over 140 years, is intensifying its sustainability commitment. The company aims for a robust science-based approach, targeting an 80% reduction in CO2e emissions by 2030 and net-zero emissions by 2050 (vs. 2019). Distancing from carbon neutrality with offsets, ABB focuses on rigorous reductions, also setting Scope 3 targets. Aligning with the WBCSD, ABB seeks to help customers avoid 600 megatons of CO2e emissions from 2022 to 2030, aligning its mission with the global energy transition.

Article:

In an era where sustainability is paramount, ABB, a stalwart in electrification and automation spanning 140 years, is amplifying its dedication to a greener future. ABB's CEO, Björn Rosengren, emphasized the company's historical role in enabling energy efficiency and electrification and unveiled a strategic update on how ABB plans to fortify and expedite its sustainability agenda.

"At ABB, we have been enabling energy efficiency and electrification for over 140 years. Today, we are putting our leading technologies in electrification, automation, and digitalization to work to accelerate the energy transition," said Rosengren. The sustainability agenda aligns with ABB's overarching mission of fostering a low-carbon society, conserving resources, and advancing social progress in collaboration with stakeholders.

In adherence to a robust, science-based net-zero targets approach, ABB has submitted its new targets to the Science Based Targets initiative (SBTi), expecting validation in 2024. These targets entail 1.5°C-aligned Scope 1 and 2 goals, aspiring to achieve an 80% reduction in CO2e emissions by 2030 and a complete elimination by 2050 compared to a 2019 baseline. Impressively, ABB has already realized a 72% reduction in Scopes 1 and 2 CO2e emissions on a 12-month rolling average from the 2019 baseline.

Notably, ABB is evolving its stance by moving away from former carbon neutrality targets that involved the utilization of carbon offsets. Instead, it's adopting a more stringent and direct approach to emissions reduction.

In tandem with the latest World Business Council for Sustainable Development (WBCSD) guidelines on avoided emissions, ABB has revised its ambition in this domain. The company aspires to empower its customers to avoid a colossal 600 megatons of CO2e emissions through products sold from 2022 to 2030. In 2022 alone, ABB contributed significantly by aiding customers in avoiding 70 Mt of CO2e across diverse sectors, including industry, transportation, buildings, and data centers.

As ABB forges ahead, this strategic recalibration signifies a profound commitment to real and impactful sustainability measures, transcending the mere offsetting of carbon emissions.

Conclusion:

In its unwavering commitment to sustainability, ABB's strategic recalibration stands as a beacon in the quest for a net-zero future. By embracing a robust science-based approach, the company charts a course toward an 80% reduction in CO2e emissions by 2030 and complete elimination by 2050. The move away from carbon neutrality targets, coupled with stringent Scope 3 goals, underscores ABB's dedication to tangible emissions reduction. As ABB helps customers navigate the path to avoid massive emissions, its actions speak volumes in shaping a sustainable trajectory for the future.

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