UltraTech Cement on Friday announced the validation of its carbon dioxide (CO2) emissions reduction targets by Science-Based Targets initiative (SBTi).
In July last year, the company committed to set science-based targets for reducing its greenhouse gas (GHG) emissions. It is committed to reduce scope 1 GHG intensity by 27 per cent by 2032 from the base year of 2017.
The company has also committed to reduce scope 2 GHG intensity by 69 per cent within the same timeframe.
The SBTi validated UltraTech's GHG reduction targets which cover the target to lower its CO2 intensity in cement to 462 kg net CO2 per ton of cementitious material by 2032.
Targets adopted by compes to reduce GHG emissions are considered science-based if they are in line to meet the goals of the Paris Agreement -- to limit global warming to well below 2 or preferably to 1.5 degrees celsius compared to pre-industrial levels.
As per SBTi, UltraTech's targets are acceptable and consistent with the global effort to limit temperature rise below the 2 degrees celsius' threshold as agreed as part of the Paris Agreement.
"By committing to science-based targets, UltraTech Cement has once again demonstrated leadership in paving the way for the sector to help build sustainable infrastructure," said Kailash Jhanwar, Managing Director at UltraTech Cement Ltd.
SBTi champions science-based target setting as a powerful way of boosting compes' competitive advantage in the transition to a low-carbon economy.
It is a collaboration between the carbon disclosure project, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature and one of the 'We mean Business Coalition' commitments.
UltraTech Cement Ltd is the cement flagship company of the Aditya Birla Group. It is the largest manufacturer of grey cement, ready mix concrete and white cement in India. The company's business operations span United Arab Emirates, Bahrain, Sri Lanka and India.
( With inputs from ANI )
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