The Weir Group has submitted new scope 1, 2 and 3 emissions reduction targets to the Science Based Targets Initiative for validation.
The new targets built Weir Group’s existing emissions reduction targets from December 2021.
The proposed new targets include absolute reductions in scope 1 emissions, 30 per cent reductions in scope 2, and 15 per cent reductions in scope 3 emissions by 2030 (against a 2019 baseline).
According to Weir Group, switching to an absolute emissions reduction basis will drive deeper cuts in scope 1 and 2 emissions.
Likewise, the company’s new scope 3 commitment adds targets for emissions in Weir’s upstream and downstream value chain for the first time.
The company hopes that the new targets will make a significant contribution to decarbonising the mining industry.
Achieving these targets would reduce Weir’s annual CO2 emissions by around 4.2 million tonnes by 2030.
According to Weir, 97 per cent of its total emissions fall within scope 3, over the lifetime of our products in use.
The company recognises that its biggest contribution to decarbonising mining will come from delivering sustainable solutions to accompany the industry’s transition to low-carbon energy sources.
“These new, more ambitious targets mark another important step in our strategy and strengthen our commitment to further reduce emissions from our own operations and in our wider value chain,” Weir Group chief executive Jon Stanton said.
“Weir’s products and solutions already have a positive impact on the energy efficiency of our customers’ operations, but we recognise that more needs to be done.
“Our customers are pushing us to innovate lower carbon, more energy efficient solutions and we are stepping up to this.
“We continue to push boundaries at pace to develop smarter, more efficient and more sustainable solutions for the global mining industry that will enable the delivery of the natural resources essential to create a better future for the world.”