Leading The Way To Net-Zero: Lenovo's Science-Based Emissions Reduction Targets And 2050 Net-Zero Strategy

2025-01-02 02:00:31

(MENAFN- 3BL) Originally published in Lenovo's 2023/24 ESG Report

Lenovo has responded to the Science Based Targets initiative (SBTi)'s urgent call for corporate climate action by committing to align with 1.5°C and net-zero through the Business Ambition for 1.5°C campaign, an official partner of the United Nations Framework Convention on Climate Change (UNFCCC) Race to Zero campaign. SBTi is a partnership between the UN Global Compact, CDP, World Resources Institute and World Wide Fund for Nature. Lenovo is an early adopter of the science-based emissions reduction approach, after receiving SBTi approval for near-term 2030 emissions reduction targets in 2020. For near-term targets, Lenovo's Scope 1 and 2 emissions reduction targets are consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement , and its Scope 3 emissions reduction targets meet ambitious criteria according to the SBTi's methodology, which means they are in line with current best practices.

On January 19, 2023, Lenovo announced its SBTi validated target to reach net-zero greenhouse gas (GHG) emissions by 2050. Lenovo's net-zero target is to achieve a 90 percent reduction across Scope 1, 2, and 3 emissions. Lenovo was the first PC and smartphone maker and one of the first 139 companies in the world to establish a net-zero target validated by SBTi. Lenovo's long-term 2050 net-zero target coincides with its near-term, SBTi-validated 2030 emissions reduction targets. In September 2023, Lenovo joined the UN Global Compact Forward Faster initiative to accelerate private sector action towards the SDGs, specifically committing to the climate action and water resilience targets within the initiative.

By working with SBTi and aligning to their Net-Zero Standard, which is also the world's first framework for corporate net-zero target setting, Lenovo is taking a scientific, collaborative, and accountable approach to reducing emissions. Aligning goals to the SBTi helps hold companies accountable for their emissions reduction. Without aligning to SBTi, it is difficult to validate or know when a net-zero target is reached.

Lenovo's mature ISO 14001 Environmental Management System (EMS) gives Lenovo a strong framework on which to set annual targets to help us drive progress towards its 2030 and 2050 SBTi goals.

These targets have a base year of FY 2018/19, near-term target year of FY 2029/30, and net-zero target year of FY 2049/50. The following table details Lenovo's Science-Based Targets, road maps for their achievement, and progress against the targets in FY 2023/24.

LENOVO EMISSIONS REDUCTION NEAR-TERM TARGETS	ROAD MAP	STATUS AS OF FY 2023/24 BASE YEAR: FY 2018/19	FY 2029/30 TARGET
Reduce absolute Scope 1 + Scope 2 GHG emissions (related to Lenovo's operations) by 50%	Hierarchical combination of energy efficiency, on-site renewable energy generation, and renewable energy commodities	On-Track	- 50%
Reduce Scope 3 GHG emissions (value chain) from use of sold products ~35% on average for comparable products	Reduce product emissions through energy efficiency improvements, engaging customers to use more renewable energy	On-Track 1	- 35%
Reduce Scope 3 GHG emissions (supply chain) from procured goods and services 66.5% per million US$ gross profit	Inclusion of climate change requirements in Supplier Code of Conduct Supplier climate data collected annually from subset of suppliers Climate change KPIs included in supplier ESG scorecards (evaluation process) Expand supplier program to greater number of suppliers/ data capabilities and SBTi level of commitment	On-Track 1	- 66.5%
Reduce Scope 3 GHG emissions from global logistics operations by 25% per tonne-km of transported product	Modal shift to lower carbon modes of transport Optimization of transport planning Increase of vehicle utilization Improvement of vehicle fuel efficiency	On-Track 1	- 25%

LENOVO EMISSIONS REDUCTION LONG-TERM TARGETS

ROAD MAP

STATUS AS OF FY 2023/24

BASE YEAR: FY 2018/19

FY 2049/50 TARGET

Reduce all GHG emissions by 90% - absolute reduction of Scope 1, 2 and 3 emissions. Neutralize remaining 10% of emissions through carbon capture, reforestation, or other means

Above concepts continue drive energy efficiency at Lenovo sites, for products, expand supplier program in commitment

On-Track 1

- 90%

1 Lenovo is in the process of improving input data for this Scope 3 category. The status reported here is the best available estimate at the time of publication. In the FY 2024/25 ESG Report, overall supporting data and target status will reflect any improved input data.

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