Kährs science-based targets validated and approved by SBTi

Kährs has made a public commitment to near-term and net-zero targets with the Science Based Target initiative (SBTi) Net-Zero standard, including FLAG emissions and removals. These targets have now been approved by the SBTi.  

“I am proud of this validation, which is an important milestone for Kährs towards reaching our sustainability goals. It is confirmation that we are on the right path for the future. SBTi provides a common, robust, and science-based understanding of net-zero, which clarifies and gives us confidence that our targets are aligned with climate science”, says Therése Gerdman, Sustainability Manager at Kährs Group.

“Since we announced our carbon neutral goal for 2030, we have made dedicated efforts, with a low-carbon transition plan in place, outlining the steps we need to take to reach our goals. Our customers can trust that we will match their ambitions and targets, and that we together can take action and responsibility.”

Overall Net-Zero Target: Kährs Holding AB (Kährs Group) commits to reach net-zero greenhouse gas emissions across the value chain by 2040.

Near-Term Targets: Kährs Group commits to reduce absolute scope 1 and 2 GHG emissions 95% by 2030 from a 2020 base year.* Kährs Group also commits to increase active annual sourcing of renewable electricity from 74.5% in 2022 to 100% by 2030. Kährs Group further commits to reduce scope 3 GHG emissions 42% by 2030 from a 2020 base year.*

Long-Term Targets: Energy & Industry: Kährs Group commits to maintain a minimum of 95% absolute scope 1 and 2 GHG emissions from 2030 through 2040 from a 2020 base year.* Kährs Group also commits to reduce scope 3 GHG emissions 90% by 2040 from a 2020 base year.*

*Target boundary includes biogenic land-related emissions and removals from bioenergy feedstocks.

FLAG: Kährs Group commits to reduce absolute scope 3 FLAG GHG emissions 72% by 2040 from a 2020 base year (includes FLAG emissions and removals).

Kährs Group’s targets will be available on the SBTi’s target dashboard from 6 June 2024 https://sciencebasedtargets.org/target-dashboard  

About SBTi
The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. They develop standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. 

The SBTi is incorporated as a charity, with a subsidiary which will host its target validation services. Their partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).

About SBTi FLAG
The world’s Forest, Land and Agriculture (FLAG) sector are one of the industries at highest risk from the impact of climate change. But it is also a significant source of emissions. It represents nearly a quarter of global greenhouse gas (GHG) emissions - the largest emitting sector after energy, but it also has the potential to absorb a significant amount of existing emissions from the atmosphere. To address this gap in emission accounting and reduction, the Science Based Target initiative (SBTi) introduced new FLAG guidance in April 2023 that requires SBTi committed companies to account for their FLAG emissions and provide pathways for decarbonization in line with the 1.5 degrees Celsius scenario.

GHG accounting criteria and recommendations on FLAG emissions have been historically poorly addressed and there has been no framework on target setting for these emissions. Only a few companies have been accounting for and reporting these emissions at some level. The reason for this is lack of data and methodology, resulting in around 22% of global emissions from the land sector not being accounted for appropriately in corporate carbon footprint calculations.

The SBTi’s FLAG Guidance provides the world’s first standard method for companies in land-intensive sectors to set science-based targets that include land-based emission reductions and removals.

Learn more about FLAG: https://sciencebasedtargets.org/sectors/forest-land-and-agriculture 

Read more about Kährs sustainability work in our Sustainability Report 2023.