ABB is taking a rigorous science-based
net-zero targets approach in line with
the net-zero standard of
the Science Based Targets initiative (SBTi). The company has submitted its new targets to SBTi with
validation expected in 2024. These include
1.5°C-aligned Scope 1 and 2 targets aiming
at a CO2e
emissions reduction of 80 percent by 2030
and 100 percent by 2050 versus a 2019
baseline. On a
12-month rolling average, ABB has now achieved
a 72 percent reduction in Scopes 1 and
2 CO2e
emissions versus 2019. Additionally, the company has set new Scope
3 CO2e emissions targets aiming
at a reduction of 25 percent by 2030 and
90 percent by 2050 versus a 2022 baseline.
With this more stringent approach, ABB
is moving away from former carbon
neutrality targets, which
included the use of carbon offsets.
Following the latest WBCSD avoided
emissions guidance, ABB has also
updated its ambition in this
area and aims to enable its customers to
avoid 600 megatons of CO2e emissions through
products sold
from 2022 to 2030. ABB helped its customers
avoid 70 Mt of CO2e in 2022, across
industry,
transportation, buildings, data centers,
and more.
Note to editors:
The Capital Markets Day can be followed
on the ABB Investor Relations website
from
8am CET today via the following link: https://capitalmarketsday.abb.com/page/2861310/registration
Further details on ABB’s sustainability agenda can
be found at
https://global.abb/group/en/sustainability
ABB
is a technology leader in electrification
and automation, enabling a more sustainable
and
resource-efficient future. The company’s solutions connect
engineering know-how and software to
optimize how things are manufactured, moved,
powered and operated. Building on more
than
140 years of excellence, ABB’s ~105,000 employees
are committed to driving innovations that
accelerate industrial transformation. www.abb.com
ABB CAPITAL MARKETS DAY 2023:
SETTING NEW STANDARDS
3/3
Important notice about
forward-looking information
This press release includes forward-looking
information and statements
which are based on current expectations,
estimates and projections about
the factors that may affect
our future performance,
including the economic
conditions of the regions and industries
that are major markets for
ABB. These expectations, estimates
and
projections are generally identifiable
by statements containing
words such as “anticipates”,
“expects,” “believes,”
“estimates,” “plans”, “targets”,
“aims” or similar expressions.
However, there are many risks and uncertainties,
many of which are beyond our
control, that could cause
our actual results to differ materially
from the
forward-looking information and
statements made in this press
release and which could affect our
ability to achieve
any or all of our stated targets
or anticipated transactions.
Some important factors that could
cause such
differences include, among others,
business risks associated
with the volatile global economic
environment and
political conditions, costs associated
with compliance activities, market
acceptance of new products
and services,
changes in governmental regulations
and currency exchange
rates and such other factors
as may be discussed
from time to time in ABB Ltd’s filings
with the U.S. Securities
and Exchange Commission,
including its Annual
Reports on Form 20-F. Although ABB Ltd believes that its
expectations reflected in any
such forward-looking
statement are based upon
reasonable assumptions, it
can give no assurance that
those expectations will be
achieved. The foregoing list of
factors is not exclusive and
undue reliance should not be
placed upon any
forward-looking statements, including
projections, which speak
only as of the date made.
—
For more information
please contact:
Media Relations
Email: media.relations@ch.abb.com
Investor Relations
Email: investor.relations@ch.abb.com
ABB Ltd
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8050 Zurich
Switzerland