Kingfisher announces new carbon reduction targets consistent with reductions required to keep global warming to 1.5°C, one of the goals of the Paris Climate Agreement. The new targets have now been approved by the Science Based Targets initiative (SBTi), and replace Kingfisher's previous targets, which it met four years ahead of schedule, the company says. SBTi mobilises companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy. It is a partnership between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
Kingfisher has committed to reduce so called Scope 1 & 2 emissions from property and transport by around 38 per cent in absolute terms by 2025, compared to 2016; and to reduce Scope 3 emissions from the supply chain and customer use of products by 40 per cent per million GDP of turnover by 2025, compared to 2017.
"We are proud to join the small number of retailers who have set approved science-based targets in line with a 1.5°C scenario," CEO Thierry Garnier, commented.