Keysight Technologies, Inc. announced that its near-term science-based targets (SBTs) have been approved by the Science Based Targets initiative (SBTi). The targets provide a clear objective for the company's strategy to reduce operational greenhouse gas (GHG) emissions in line with a 1.5°C trajectory and to engage customers in setting their own SBTs.
An increased global temperature presents significant economic, social, and environmental challenges. Rapid emissions reductions are necessary to mitigate the worst impacts of climate change and limit global warming to 1.5°C.
Keysight commits to reducing absolute scope 1 and 2 GHG emissions 42% by fiscal year 2030 from a fiscal year 2021 base year. Keysight also commits that 73% of its customers by emissions covering use of sold products, will have science-based targets by fiscal year 2028.
Keysight's scope 1 and 2 operational emissions reduction strategy includes energy reduction through efficiency and conservation measures, decarbonization of industrial processes, and sourcing renewable electricity worldwide. In 2022, the company completed the first comprehensive calculation of its scope 3 indirect emissions and identified the use of sold products category as the most significant. Keysight will work with its customers to provide guidance and support on setting SBTs to reduce emissions.
In addition to the approved near-term SBTs, Keysight remains committed to achieving net zero GHG emissions in scopes 1 and 2 by the end of fiscal year 2040. Keysight reports on its progress towards net zero emissions in the company's annual Corporate Social Responsibility (CSR) Report and plans to include future progress on its approved near-term SBTs. Keysight's near-term targets are listed on the SBTi website.
Ingrid Estrada, Chief Administrative Officer and Chief of Staff, Keysight said: "The private sector must take meaningful action to do its part in limiting global temperature rise to 1.5°C. By validating targets through the SBTi we are demonstrating our alignment with the latest climate science, meeting stakeholder expectations, strengthening business continuity and resilience, and engaging our value chain."
