The Canadian international group Mercer International announced its 35% Greenhouse Gas reduction target by 2030 has been approved by the Science Based Targets initiative (SBTi) as consistent with the levels required to meet the goals of the Paris Agreement. The approval formally recognizes Mercer as a leading company and the first in Canada and one of the first North American companies in the forest and paper products sector with approved targets.
As disclosed by SBTi, Mercer’s commitment is to reduce Scope 1 GHG emissions by 35% per tonne of pulp by 2030 from a 2019 base year. In addition, we are also committing to reducing absolute Scope 2 and Scope 3 GHG emissions by 35% by 2030 from a 2019 base year. These targets are consistent with reductions required to keep warming to well below 2°C.
“We believe SBTi is recognized as the most reputable standard to validate climate targets, and this recognition provides clarity and confidence in our 2050 pathway to net-zero emissions and a more sustainable future,” said David Ure, Senior Vice President and CFO. He went on to state, “We look forward to continued collaboration with our customers and supply chain with a common purpose to reduce greenhouse gas and our carbon footprint.”
SBTi helps companies establish science-based targets to reduce greenhouse gas emissions and transform business operations to fit the future low-carbon economy. Targets adopted to reduce greenhouse gas (GHG) emissions are considered to be “science-based” if they are in line with what the latest available climate science says is necessary to meet the goals of the Paris Agreement – to limit global warming to well below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C.
SBTi is a collaboration between CDP, United Nations Global Compact (UNGC), World Resources Institute (WRI), World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.