ABB Recognized with ‘A’ Score for Transparency on Climate Change

February 15, 2024

ABB has been recognized for leadership in corporate transparency and performance on climate change by global environmental non-profit Carbon Disclosure Project (CDP), securing a place on its annual ‘A List’. Based on data reported through CDP’s 2023 Climate Change questionnaire, ABB is one of a small number of companies that achieved an ‘A’ – out of over 21,000 companies scored. In 2023, over 740 financial institutions with over US$136 trillion in assets requested companies to disclose data on environmental impacts, risks and opportunities through CDP’s platform.

Anke Hampel, Group Head of Sustainability at ABB, said: “ABB is taking a rigorous science-based net-zero targets approach in line with the Net-Zero Standard of the Science Based Targets initiative (SBTi). Inclusion in CDP’s A List is an important recognition of our approach to sustainability and our commitment to setting ambitious and meaningful sustainability targets.”

The company has submitted its new targets to SBTi with validation expected in 2024. These include 1.5°C-aligned Scope 1 and 2 targets aiming at a CO2e emissions reduction of 80 percent by 2030 and 100 percent by 2050 versus a 2019 baseline. On a 12-month rolling average, as of Q3 2023, ABB achieved a 72 percent reduction in Scopes 1 and 2 CO2e emissions versus 2019. The latest numbers will be published on February 23 in ABB’s 2023 annual reporting suite.

Additionally, the company has set new Scope 3 CO2e emissions targets aiming at a reduction of 25 percent by 2030 and 90 percent by 2050 versus a 2022 baseline.

Following the latest WBCSD avoided emissions guidance, ABB has also updated its ambition in this area and aims to enable its customers to avoid 600 megatons of CO2e emissions through products sold from 2022 to 2030. ABB helped its customers avoid 70 Mt of CO2e in 2022, across industry, transportation, buildings, data centers, and more.

A detailed and independent methodology is used by CDP to assess companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that do not disclose or provide insufficient information are scored an F.

Source

Related Articles


Latest Articles

  • Industrial Projects Lead Non-Residential Construction Intention Gains

    Industrial Projects Lead Non-Residential Construction Intention Gains

    April 22, 2024 Month over month, the total value of building permits in Canada increased 9.3% to $11.8 billion in February. The non-residential sector grew 12.3% to $4.7 billion due to the issuance of several major construction permits, while the residential sector increased 7.4% to $7.1 billion. Ontario (+21.7% to $5.0 billion) led the growth, with gains occurring across all components. On… Read More…

  • Multi-Unit Component Weighs on Investment for February Building Construction Investment

    Multi-Unit Component Weighs on Investment for February Building Construction Investment

    April 22, 2024 Month over month, investment in building construction declined 1.1% to $19.3 billion in February. Investment in the residential sector decreased 1.2% to $13.4 billion, while investment in the non-residential sector fell 0.9% to $6.0 billion. On a constant dollar basis (2017=100), investment in building construction fell 1.2% to $11.9 billion in February, following a flat (+0.0%) movement in the previous… Read More…

  • Shore-Side Electricity and Data Monitoring Take Hold in the Cruise Industry

    Shore-Side Electricity and Data Monitoring Take Hold in the Cruise Industry

    April 15, 2024 On July 7, 2023, the United Nations International Maritime Organization (IMO) and its participating maritime countries set their Greenhouse Gas (GHG) emissions strategy to achieve net zero “by or around” 2050. As a result, the shipping industry, including cruise lines, is adopting various strategies to achieve this ambitious goal, including new fuels,… Read More…

  • Project Spotlight: Sainte-Thérèse High School Lighting Upgrade

    Project Spotlight: Sainte-Thérèse High School Lighting Upgrade

    Built in 1980, the building that houses Sainte-Thérèse high school, in Quebec Canada, was looking a little worse for the wear. Renovation work began with two major projects: introducing a multidisciplinary sports centre, as well as redesigning the parking lots.  The employee and visitor parking lots were completely reconfigured during phase 1 of the renovation… Read More…


Changing Scene

  • CCA Calls for Meaningful Investment as Housing Takes Centre Stage in Budget 2024

    CCA Calls for Meaningful Investment as Housing Takes Centre Stage in Budget 2024

    April 22, 2024 The federal government’s housing strategy is a long-awaited step forward to build more homes, but significantly more investment is needed to address critical infrastructure needs and the housing crisis, says Canada’s construction industry. The federal government’s plan announced in this Budget, as well as actions taken through the 2023 Fall Economic Statement,… Read More…

  • BCCA Response to Federal Budget 2024

    BCCA Response to Federal Budget 2024

    April 22, 2024 BCCA response to the federal budget announcement: The 2024 Federal Budget falls short on a number of policies required to meet the needs of BC’s construction industry, specifically in terms of workforce solutions and infrastructure. Our concern is that demand stimulated by aggressive housing targets and loan programs will surpass the BC… Read More…

  • Have your Voice Heard…Join in One of CEMRA’s 3 Subcommittee Groups and Make a Difference

    Have your Voice Heard…Join in One of CEMRA’s 3 Subcommittee Groups and Make a Difference

    April 22, 2024 The CEMRA board is looking for CEMRA reps to embark one of the three valuable Board subcommittees. If you are a rep, and would like to get involved and contribute, this is your opportunity. The 3 subcommittee groups include the following projects; If you have any questions, please reach out to the… Read More…

  • AEA RFP for Technical Seminars

    AEA RFP for Technical Seminars

    April 15, 2024 AEA is thrilled to announce that they’ll be hosting a series of sessions in Calgary, Edmonton, and Red Deer. These events promise to be multifaceted, bringing together a diverse array of attendees from the electrical industry. It’s an excellent opportunity for companies to showcase their products, as the sessions will be both… Read More…