Aarhus, Denmark, June 7, 2023 – Stibo Software Group, the parent company of leading master data management (MDM) solution provider Stibo Systems, has committed to set near-term and net zero company-wide emission reductions in line with climate science with the Science Based Targets initiative (SBTi).
“We are aware of the importance of rapid and deep emission cuts worldwide, and we feel the urgency to take action,” said Paul van Lennep, Stibo Systems Head of ESG & Sustainability. “Setting these kind of robust targets – at the pace and scale required by climate science – is a crucial part of our ESG strategy.”
By committing to set a net-zero target, Stibo Software Group has also become part of Race to Zero, the UN-backed campaign. This global campaign looks to rally leadership from all non-state actors for a healthy, resilient, zero carbon recovery.
Stibo Software Group is preparing to submit its net-zero targets and actions to the SBTi for validation and expects to complete this before the end of 2023.
The group’s near-term targets (up to 2030) for SBTi will include:
• A minimum of 4.2% linear annual reduction for all scope 1 and 2 emissions compared to base year 2021/2022
• A 7% year on year intensity reduction for all scope 3 emissions
• 80% renewable energy use by 2025 and 100% by 2030
Stibo Software Group’s long term and net zero science-based target includes a minimum of 90% reduction for scope 1 and 2 and 97% scope 3 intensity reductions by 2050 latest.
About the Science Based Targets initiative
The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.
The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. More at www.sciencebasedtargets.org.
About Stibo Systems
Stibo Systems, the master data management company, is the trusted enabler of data transparency. Our solutions are the driving force behind forward-thinking companies around the world that have unlocked the strategic value of their master data. We empower them to improve the customer experience, drive innovation and growth and create an essential foundation for digital transformation. This gives them the transparency they require and desire – a single, accurate view of their master data – so they can make informed decisions and achieve goals of scale, scope and ambition. Stibo Systems is a privately held subsidiary of Stibo Software Group, founded in 1794, and is headquartered in Aarhus, Denmark. More at stibosystems.com.
