China-based technology giant Alibaba Group announced today a series of climate goals, including targets to achieve carbon neutrality in its operations by 2030, and the launch of an initiative aimed at eliminating 1.5 gigatons of carbon emissions across and beyond its ecosystem by 2035.
The company’s 2030 carbon neutrality target includes scope 1 and 2 emissions, including those under the company’s direct control, as well as those from purchased electricity and energy. For scope 3 emissions, which include those from across the value chain, from the supply chain to product use, Alibaba is targeting a 50% reduction by 2030, as well as scope 3 carbon neutrality for Alibaba Cloud, its cloud computing subsidiary.
Alibaba also stated that it has committed to joining the Science Based Targets intiative (SBTi), one of the key organizations focused on aligning corporate environmentalEnvironmental criteria consider how a company performs as a steward of nature. sustainability action with the global goals of addressing and limiting climate change, and that it has aligned its decarbonization strategy with SBTI’s Business Ambition for 1.5°C campaign that calls on companies to commit to set ambitious science-based emissions reduction targets in line with a 1.5°C future.
Daniel Zhang, Chairman and CEO of Alibaba Group, said:
“We aspire to be a force for positive, innovative change in society. Our ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. strategy is predicated on our mission to be a good company that will live for 102 years and it is the vital foundation for Alibaba’s future development.”
Alibaba’s 1.5 ‘Gigatons for 1.5°C’ initiative goes beyond scopes 1-3 source, targeting “Scope 3+” emissions, including those generated by a broader range of participants in the company’s platform ecosystem.
The company announced the launch of a three-tier ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. governanceGovernance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights. framework to oversee the achievement of its new climate targets, including a Sustainability Committee at the board level, a Sustainability Steering Committee responsible for strategic planning, goal setting and management, and an ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. cross-business action group consisting of representatives from each business unit at the working level responsible for coordination and execution.
Dr. Chen Long, Vice President of Alibaba Group and Chair of Alibaba’s Sustainability Steering Committee, said:
“We believe the use of digital platforms can play a significant role in empowering a low carbon circular economic model that can lead to achieving the 1.5-degree target of the Paris Agreement. The concept of ‘Scope 3+’ is based on the potential of leveraging our digital platforms to influence and advocate for low carbon products, services and behavior among a wider group of stakeholders in our ecosystem, and share our energy-efficient technologies and innovative business tools with customers and business partners to reduce the carbon footprint together.”
The post Alibaba Launches “Scope 3+” Initiative to Eliminate 1.5 Gigatons of Emissions appeared first on ESG Today.
