Stairlift manufacturer TK Elevator has committed to lead the way to a low carbon future by aiming to reduce its carbon emissions to reach net-zero.
The firm supports the ’Business Ambition for 1.5°C’ initiative, keeping global warming to 1.5°C and reaching net-zero global emissions by 2050 at the latest.
The ’Business Ambition for 1.5°C’ campaign, led by the Science Based Targets initiative (SBTi) in partnership with the UN Global Compact and the We Mean Business coalition, is an urgent call-to-action for companies to ensure their emissions will match with the 1.5°C goal. It is backed by a global coalition of UN leaders, businesses, and NGOs that emphasise the need to step up when tackling the climate crisis.
Peter Walker, CEO of TK Elevator said: “TK Elevator is leading the way to stop global warming by committing to net-zero – an initiative that is as clear as it is long-term. We use a variety of options for this purpose and support the most relevant international organisations as well as the corresponding campaigns. The tangible actions we take to reach our commitment include the reduction of our direct and indirect emissions.”
In line with the long-term science-based target to reach net-zero emissions, TK Elevator will set verifiable science-based targets through the SBTi that independently assesses corporate emissions reduction targets in line with what climate scientists say is needed to meet the goals of the Paris Agreement.
TK Elevator is committing to reduce its direct as well as indirect emissions from energy purchases, particularly for its vehicle fleet that accounts for more than half of the company’s CO2 emissions. Moreover, there will be a significant reduction in emissions from the manufacturer’s facilities based on maximum energy efficiency and an increased use of renewable energies. Other emissions in TKE’s value chain are influenced by products’ materials and operational energy consumption. Energy efficiency, use of materials and circular economy principles will be in the focus of TKE’s emissions reduction.
Dr. Paula Casares Medrano, head of ESG at TK Elevator, explains: “Through optimising the CO2 footprint of our fleet, our facilities and our products, we can effectively contribute to slow down global warming. Generally, our measures are designed for short- as well as long-term – this is how we live up to our responsibility as a future-oriented company.”
In this context, TK Elevator has also joined the ‘Race to Zero’ – an UN-backed campaign that strives to rally leadership and support from all non-state actors for a zero-carbon recovery with the objective to build momentum around the shift to a decarbonised economy ahead of the COP26 (Glasgow summit in November 2020) goals.
The company is targeting a carbon footprint reduction of 25% and a 50% reduction by 2040, based on its current footprint for direct emissions and emissions from purchased energy. Moreover, TK Elevator was recognised by the Carbon Disclosure Project (CDP) for its actions to reduce emissions, mitigate climate risks, and develop a low-carbon economy. TK Elevator is one of a small number of high-performing companies assessed for the CDP ‘A’ list out of in total 9,600 that were scored by CDP in 2020. The firm believes the CDP score underlines its position regarding environmental ambitions and actions as well as the corresponding transparency and management.