The Science Based Target initiative has validated Ignitis Group’s net-zero targets

Ignitis Group, a renewables-focused integrated utility, informs that the Science Based Targets initiative (hereinafter – SBTi) validated and published long-term (net-zero) and revalidated near-term greenhouse gas (GHG) emission reduction targets of the Group. The Group is dedicated to pursuing net-zero GHG emissions across the value chain by 2040. 

The SBTi has assessed Ignitis Group’s near-term and net-zero targets against the SBTi’s Net-Zero Standard Criteria and the SBTi Near-Term Target Criteria and Recommendations.  

The SBTi’s Target Validation Team has classified the Group’s scope 1 and 2 near-term target ambition and has determined that it is in line with a 1.5°C trajectory. The Target Validation Team has also evaluated the Group’s scope 1, 2, and 3 long-term target ambition, and determined that the long-term targets are aligned with the SBTi's 1.5° C mitigation pathways for reaching net-zero by 2050 or sooner.  

In pursuit of its targets, Ignitis Group will seek to reduce emissions from its operations and will endeavour to engage its partners, suppliers and customers in the process. The foreseen emission reduction measures include growing Green Capacities, increasing the share of green electricity in internal operations and in customer sales, promoting the customer transition from natural gas to electricity, reducing network losses, upgrading the vehicle fleet with electric vehicles, etc. 

The Group announced its commitment to reach net-zero GHG emissions back in 2019, after joining the Business Ambition for 1.5° C. 

The Science Based Targets initiative (SBTi) is a corporate climate action organisation that enables companies and financial institutions worldwide to play their part in combating the climate crisis. SBTi develops standards, tools and guidance which allow companies to set GHG emissions reduction targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at the latest. 

Official science-based targets language is available on the SBTi website and on the Group’s website (link).