Official SBTi approval for WSP net zero targets, as the company prepares to attend COP27.
To support its ongoing efforts to reach net zero, WSP has had its near- and long-term science-based emissions reduction targets approved by the Science-Based Targets Initiative (SBTi).
Last year, WSP committed to net zero supported by science-based greenhouse gas emissions (GHG) reduction targets, which had been approved by the Science Based Target initiative (SBTi). They have now received approval for their net zero target under the SBTi’s Net-Zero Standard.
SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. The initiative defines and promotes best practice in emissions reductions and net zero targets in line with climate science. SBTi also provides technical assistance and expert resources to companies who set science-based targets in line with the latest climate science and brings together a team of experts to provide companies with independent assessment and validation of targets.
“As WSP continues on its ambitious decarbonisation path through the approval of its net zero target, we are pleased to play our part in urgent action to limit the global temperature rise to 1.5 degrees,” said Alexandre L’Heureux, WSP’s global president and CEO. “WSP is proud to be among the leading companies to achieve SBTi approval, and we are well positioned to continue to drive sustainable growth as a core part of our business,” he said.
The latest climate science from the Intergovernmental Panel on Climate Change – described by the UN as “code red for humanity” – shows that without immediate and deep emissions reductions across all sectors, limiting global warming to 1.5°C will be beyond reach.
WSP has committed to reach net zero greenhouse gas emissions across its value chain by 2040 from a 2018 base year. In the near-term, WSP has committed to reduce absolute scope 1 and 2 (market-based) GHG emissions 60% by 2030 from a 2018 base year. WSP also commits to reduce absolute scope 3 GHG emissions by 30% within the same timeframe.
In the long-term, WSP has committed to reducing absolute scope 1, 2, and 3 GHG emissions 90% by 2040 from a 2018 base year. WSP will also prioritise reductions in direct emissions and all residual emissions will be neutralised in line with SBTi criteria to achieve net zero by 2040. WSP’s recently published Climate Transition Plan provides an overview of the key strategies the company will implement to achieve these targets as it collectively transitions to a low-carbon future.
WSP also aims to have a significant impact beyond its own emissions reductions. By delivering Future Ready® designs and advice to its clients, they are having a significant impact on reducing their emissions and accompanying them on their own journey to net zero.
The company is also actively participating in international efforts to transition to a low-carbon economy and to that end WSP leaders will be taking part in the 27th annual session of the UN Climate Change Conference (COP27) which takes place in Sharm el-Sheikh, Egypt, later this month.
Further information on environment, social and governance (ESG) activities at WSP is available in their 2021 Global ESG Report: Positive and Bold Change Agents.
