Latest news with #CorporateNet-ZeroStandard
Hans India
17 hours ago
- Business
- Hans India
Ambuja, ACC get pats with Net-Zero targets
Ambuja Cements and ACC, the cement and building materials companies of the diversified Adani Portfolio, have achieved a landmark sustainability milestone as the leading two Indian cement companies amongst peers to have their net-zero targets validated by the Science Based Targets initiative (SBTi), it was announced on Thursday. The SBTi's 'Corporate Net-Zero Standard' is the world's only framework for corporate net-zero target setting in line with climate science.'We take immense pride in Ambuja Cements' and ACC's long-standing tradition of pioneering sustainability initiatives as we feel a strong responsibility to act in the climate crisis,' said Vinod Bahety, CEO-Cement Business, Adani group. The SBTi validation proves the companies' commitment to building a sustainable and responsible business, by doing not what is easy but what is necessary and positioning them as corporate leaders of the low-carbon transition. This recognition places them at the forefront of India's industrial decarbonisation, committed to cutting emissions at the pace and scale required to meet the Paris Agreement's 1.5 degrees Celsius goal. Ambuja is also the first cement manufacturer globally to join the Alliance for Industry Decarbonization (AFID), led by the International Renewable Energy Agency (IRENA) and is a member of WEF's Transitioning Industrial Clusters initiative. Synergies across the Adani Group ecosystem are central to this ambition. With a $100 billion commitment to India's green energy transition, the Group is scaling renewable capacity from 14.2 GW to 50 GW by 2030 and building an integrated green hydrogen platform.
India Gazette
a day ago
- Business
- India Gazette
Ambuja Cements and ACC become India's leading cement companies with net-zero targets validated by the SBTi
Ahmedabad (Gujarat) [India], June 19 (ANI): Ambuja Cements and ACC, the cement and building materials companies of the diversified Adani Portfolio, have achieved a landmark sustainability milestone as the leading two Indian cement companies amongst peers to have their net-zero targets validated by the Science Based Targets initiative (SBTi). The SBTi's Corporate Net-Zero Standard is the world's only framework for corporate net-zero target setting in line with climate science. According to Adani, the SBTi validation proves the Companies' commitment to building a sustainable and responsible business, by doing not what is easy but what is necessary and positioning them as corporate leaders of the low-carbon transition. This recognition places them at the forefront of India's industrial decarbonisation, committed to cutting emissions at the pace and scale required to meet the Paris Agreement's 1.5C goal. Vinod Bahety, CEO - Cement Business, Adani Group, said, 'We take immense pride in Ambuja Cements' and ACC's long-standing tradition of pioneering sustainability initiatives as we feel a strong responsibility to act in the climate crisis. The SBTi represents the highest standard for corporate climate targets.' He added, 'With the validation of our targets by the SBTi, we reinforce our dedication to creating a future where growth and environmental stewardship go hand in hand. We are the 9th largest cement manufacturer in the world and after Cemex, Heidelberg and Holcim, only one of this scale to achieve net-zero target validation. Our journey doesn't stop here - this is yet another step towards realising our vision for a decarbonised and sustainable world.' The Companies understand the importance of rapid and deep emission cuts and have been pioneering sustainability practices as leaders in the industry's transformation towards sustainable growth. The Companies will prioritise direct decarbonisation and neutralise residual emissions in line with SBTi criteria. The Companies' initiatives on green power, AFR, energy efficiency, technology upgradation, innovation have had helped to set up the targets. Ambuja is also the first cement manufacturer globally to join the Alliance for Industry Decarbonization (AFID), led by the International Renewable Energy Agency (IRENA) and is a member of WEF's Transitioning Industrial Clusters initiative. Synergies across the Adani Group ecosystem are central to this ambition. With a USD 100 billion commitment to India's green energy transition, the Group is scaling renewable capacity from 14.2 GW to 50 GW by 2030 and building an integrated green hydrogen platform. Under this, Ambuja Cements aims to achieve 60 per cent of its power requirements through renewable and green sources by FY'28, including 1 GW of solar and wind power, as well as 376 MW of WHRS. Of these, it has already achieved 299 MW and 186 MW capacities, respectively. Green hydrogen will play a key role in achieving net-zero. The Group's investments in this space will lead the Companies' net-zero pathways. The shared capabilities with the Group will enable Ambuja Cements and ACC to accelerate emissions reduction and reduce reliance on fossil fuels. This validation is not just a milestone; it is a mandate. Ambuja Cements and ACC are setting new benchmarks for the cement industry, proving that bold climate action is possible, necessary, and already underway. (ANI)
Hamilton Spectator
22-05-2025
- Business
- Hamilton Spectator
Allied Announces Net-Zero Emissions Reduction Targets Validated by the Science Based Targets initiative
TORONTO, May 22, 2025 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust ('Allied') (TSX: announced today that the Science Based Targets initiative (SBTi) has approved its near- and long- term science-based greenhouse gas (GHG) emissions reduction targets. These targets are consistent with a 1.5°C decarbonization pathway and will apply to both Allied's rental and development portfolios. In line with the science-based requirements of the SBTi's Corporate Net-Zero Standard, Allied commits to reach net-zero GHG emissions across the value chain by 2050. This includes a reduction in absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2022 base year. Allied has also committed to reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2022 base year and to reduce absolute scope 3 GHG emissions 90% within the same timeframe. Allied's validated targets are available on the SBTI's website at . ABOUT ALLIED Allied is a leading owner-operator of distinctive urban workspace in Canada's major cities. Allied's mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people. CAUTIONARY STATEMENTS This press release may contain forward-looking statements with respect to Allied including its environmental, social and governance strategies and targets and sustainability commitments. These statements generally can be identified by use of forward-looking words such as 'may', 'will', 'expect', 'estimate', 'anticipate', 'intends', 'believe' or 'continue' or the negative thereof or similar variations. The actual results and performance of Allied discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, financing and interest rates, general economic and market conditions and other factors described under 'Risks and Uncertainties' in Allied's Annual MD&A, which is available at . These cautionary statements qualify all forward-looking statements attributable to Allied and persons acting on Allied's behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Allied has no obligation to update such statements. FOR FURTHER INFORMATION, PLEASE CONTACT:
Yahoo
22-05-2025
- Business
- Yahoo
Allied Announces Net-Zero Emissions Reduction Targets Validated by the Science Based Targets initiative
TORONTO, May 22, 2025 (GLOBE NEWSWIRE) -- Allied Properties Real Estate Investment Trust ('Allied') (TSX: announced today that the Science Based Targets initiative (SBTi) has approved its near- and long- term science-based greenhouse gas (GHG) emissions reduction targets. These targets are consistent with a 1.5°C decarbonization pathway and will apply to both Allied's rental and development portfolios. In line with the science-based requirements of the SBTi's Corporate Net-Zero Standard, Allied commits to reach net-zero GHG emissions across the value chain by 2050. This includes a reduction in absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2022 base year. Allied has also committed to reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2022 base year and to reduce absolute scope 3 GHG emissions 90% within the same timeframe. Allied's validated targets are available on the SBTI's website at ABOUT ALLIEDAllied is a leading owner-operator of distinctive urban workspace in Canada's major cities. Allied's mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied's vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people. CAUTIONARY STATEMENTSThis press release may contain forward-looking statements with respect to Allied including its environmental, social and governance strategies and targets and sustainability commitments. These statements generally can be identified by use of forward-looking words such as 'may', 'will', 'expect', 'estimate', 'anticipate', 'intends', 'believe' or 'continue' or the negative thereof or similar variations. The actual results and performance of Allied discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, financing and interest rates, general economic and market conditions and other factors described under 'Risks and Uncertainties' in Allied's Annual MD&A, which is available at These cautionary statements qualify all forward-looking statements attributable to Allied and persons acting on Allied's behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and, except as required by applicable law, Allied has no obligation to update such statements. FOR FURTHER INFORMATION, PLEASE CONTACT: CECILIA C. WILLIAMSPresident & Chief Executive Officer(416) 977-9002 NANTHINI MAHALINGAMSenior Vice President & Chief Financial Officer(416) 977-9002Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-03-2025
- Business
- Yahoo
Climate Target Watchdog Keeps 1.5C Goal as Global Support Wavers
(Bloomberg) -- The main standard setter for corporate climate targets said it won't validate net-zero claims by companies that abandon the landmark 1.5C goal, pushing back against growing skepticism. ICE Eyes Massive California Tent Facility Amid Space Constraints How Britain's Most Bike-Friendly New Town Got Built The Dark Prophet of Car-Clogged Cities Washington, DC, Region Braces for 'Devastating' Cuts from Congress NYC Plans for Flood Protection Without Federal Funds The Science Based Targets initiative is revising its so-called Corporate Net-Zero Standard, which sets out the requirements companies need to meet if they want their emissions claims validated. A draft proposal released on Tuesday recommends significant changes to accelerate investments in curbing emissions. 'The temporary breach of the 1.5C global warning threshold in 2024 and growing impact of climate change underscore the critical importance of accelerating efforts to phase out greenhouse gas emissions from our economy,' SBTi said. The renewed commitment comes as the Trump administration takes a wrecking ball to climate initiatives, as part of a wave of deregulation that's had ripple effects across international markets. At the same time, failure to rein in emissions means the world is now on track for warming of roughly twice the critical 1.5C threshold, with the World Meteorological Organization estimating that 2024 was the hottest year on record. The finance industry is already abandoning voluntary initiatives intended to align their businesses with 1.5C, with the Net-Zero Banking Alliance now virtually wiped off the map in North America. To speed up the transition, SBTi is proposing that companies move to low-carbon electricity no later than 2040. To better tackle so-called Scope 3 emissions, it's considering replacing requirements that companies target 67% of carbon in their value chains in the near term and 90% in the long term. Instead, SBTi proposes that firms prioritize the heaviest sources of pollution and those with which they have the greatest leverage. 'To reach net-zero emissions, it is critical for companies to align their procurement and revenue-generating activities with global climate goals,' SBTi said. The proposed changes, which also differentiate between larger and smaller companies, follow years of complaints around the difficulty of getting accurate emissions data and setting such sweeping goals. Since SBTi released the first version of the standard in 2021, more than 1,500 companies have had net-zero targets validated by the group. In addition, SBTi proposed requirements for transition plans and limited assurance, in keeping with European demands. It also proposed a new system for monitoring alignment which includes spot checks and guidelines on what companies can claim. The goal is to ensure 'companies not only commit to science-based climate action but also demonstrate measurable progress and continuous improvement,' according to SBTi's proposal. A growing number of companies are nearing the end of their near-term targets, and that's creating 'demand for clearer guidance on determining target progress.' Bloomberg Philanthropies, the philanthropic organization of Michael Bloomberg, founder and majority owner of Bloomberg LP, is a project-specific funder of SBTi. The Real Reason Trump Is Pushing 'Buy American' Tesla's Gamble on MAGA Customers Won't Work Snap CEO Evan Spiegel Bets Meta Can't Copy High-Tech Glasses Nvidia Looks Past DeepSeek and Tariffs for AI's Next Chapter How Trump's 'No Tax on Tips' Could Backfire for the Working Class ©2025 Bloomberg L.P.
