Ambitious greenhouse gas reduction targets validated by leading global authority
18 August 2021
Persimmon Homes Plc has received validation from the Science Based Targets initiative (SBTi) for its ambitious targets to reduce greenhouse gas (GHG) emissions by 2030 in line with the levels required to meet the 1.5C warming goals of the Paris Agreement.
The SBTi is a partnership between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the Word Resources Institute (WRI) and the World Wide Fund for Nature (WWF). It independently assesses and validates corporate emissions reduction targets against the latest climate science.
The SBTi has validated Persimmon’s commitment to reduce absolute scope 1 and 2 GHG emissions 46.2% by 2030 from a 2019 base year and to reduce scope 3 GHG emissions 22% per square meter of completed floor area within the same timeframe.
These targets support our path to net zero carbon, where Persimmon has made other important pledges including commitments: to achieve net zero homes in use by 2030; and, net zero emissions from its own operations by 2040.
Group sustainability manager Philippa Bolton-Hadfield said: “Tackling climate change requires ambitious action from the corporate sector. At Persimmon we recognise that as a responsible housebuilder we fulfil an important role in society. The world is facing an unprecedented environmental challenge so we must – and will – play a full and active role in the imperative of achieving a net zero carbon economy.
“Our science-based targets are a clear demonstration of our commitment to reducing our environmental impact in a meaningful way. We’ve also set ambitious targets for our homes to be net zero in use by 2030 and net zero in our operations by 2040. We will work closely with our supply chain and wider industry in order to achieve this.”
Sanda Ojiambo, CEO and executive director of the UN Global Compact, one of the SBTi partners, said: “The climate emergency has led CEOs to act urgently and decisively to set science-based emissions reduction targets for their companies in line with a 1.5°C pathway. The movement to transition to a net-zero economy by 2050 is also growing rapidly, and we call on all business leaders to adopt concrete plans to realize this goal.”
Persimmon’s targets address scope 1 and 2 emissions produced directly by its own operations and those created through the energy the company purchases, while scope 3 emissions are all those generated through its value chain, such as the supplier network.
The company has conducted a comprehensive review of its operations to ensure planning for the next decade allows it to meet these demanding targets.
Despite the challenges of addressing indirect emissions, doing so has huge potential to not only prevent the worst impacts of climate change, but can also lead to substantial business benefits. Setting scope 3 targets enables companies to mitigate value chain risks, unlock new innovations and collaborations, and respond to mounting pressure from investors, customers, and civil society.
The SBTi assessed Persimmon’s submission against the Call to Action’s eligibility criteria and, after careful review, has approved the targets.