SBTi Approves Otis’ GHG Emissions Reduction Targets

Otis has announced that the Science Based Targets initiative (SBTi) has approved its near-term science-based greenhouse gas (GHG) emissions reduction targets. Otis’ SBTi-approved targets are as follows: reduce absolute scope 1 and 2 GHG emissions 55% by 2033 from a 2021 base year and reduce absolute scope 3 GHG emissions from purchased goods and services, business travel and use of sold products 33% within the same timeframe. These targets demonstrate the company’s commitment to meeting the objective of the Paris Agreement to limit global warming to no more than 1.5 degrees Celsius above pre-industrial levels. SBTi is a partnership between Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the Worldwide Fund for Nature (WWF). SBTi defines and promotes best practices in science-based target setting, offers resources and guidance to reduce barriers to adoption and independently assesses and approves companies’ targets.