Otis’ SBTi GHG Commitment Adds to ESG Objectives

On November 9, Otis Worldwide Corp. announced its commitment to setting near-term, science-based greenhouse gas (GHG) reduction targets, formally submitting its plan to the Science Based Targets initiative (SBTi) for evaluation. Representing a significant addition to Otis’ existing Environmental, Social and Governance (ESG) objectives, the submission includes proposed GHG emission reduction targets for Scopes 1, 2 and 3 against a 2021 baseline. Science-based targets draw from the most up-to-date research for meeting the objectives of the Paris Agreement to limit global warming to no more than 1.5° Celsius above pre-industrial levels by 2030. Otis’ SBTi GHG reduction commitment is in line with its 13 ESG goals established in 2021 in the areas of Heath & Safety, Environment & Impact, People & Communities and Governance & Accountability.