Thinkproject’s emissions reduction target approved

Thinkproject is committed to more sustainability and a low-carbon economy as part of the international Science Based Targets initiative (SBTi).

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News

Sep. 19, 2023

SBTi is a global body that enables companies to set their ambitious emission reduction targets in line with the latest climate science. SBTi has approved Thinkproject’s near-term, science-based emissions reduction target.

“It’s clear that action is now needed to halve global emissions by 2030 and reach net zero by 2050,” said Thinkproject CEO Renzo Taal. “It is still possible to limit global temperature rise to 1.5°C, as envisaged by the Paris Climate Agreement – but only with a focused effort. As part of both the IT and construction industries, we have made a conscious commitment to this 1.5°C goal. And we are strongly committed on working with external experts to establish concrete targets and actions.”

Thinkproject sets concrete emissions reduction goals for 2030

The Greenhouse Gas Protocol categorises greenhouse gas emissions into three areas: Scope 1, 2 and 3. Scope 1 records emissions from sources owned or controlled by the company, e.g., the corporate fleet. Scope 2 includes emissions that the company causes indirectly, for example through the consumption of purchased energy. Scope 3, in turn, are indirect emissions that occur in the company’s value chain, for example in purchased goods and services.

Current emissions

Our goal

Scope 1 | 6.2%
42% reduction
Scope 2 | 3.1%
42% reduction
Scope 3 | 90.7%
25% reduction

The CO2 equivalents (CO2e) of the year 2021 served as the reference for the evaluation of the near-term goals.

In 2021, the total GHG emissions for Thinkproject were 3,844 tons of CO2e. The distribution was 237 tons or 6.2% for Scope 1, 119 tons or 3,1% for Scope 2, and 3,488 tons or 90.7% for Scope 3.

The SBTi has now validated Thinkproject’s near-term, science-based target of reducing its GHG emissions from Scope 1 and 2 by 42% by 2030 and absolute scope 3 GHG emissions from purchased goods and services by 25% within the same timeframe.

These Scope 1 and 2 target ambitions are in line with a 1.5°C global temperature trajectory.

More sustainability through digitisation in the construction industry

Thinkproject addresses sustainability in numerous facets of its business – from internal processes to the products that the construction software specialist offers its customers. Thinkproject has a double responsibility: as a role model for software companies and as a provider of sustainable digital methods. Digitisation can help customers in the construction industry to reduce their own emissions and increase their efficiency.

It is well known that the construction industry is responsible for a relevant part of global CO2 emissions. As the Circular Buildings Coalition Report titled “Towards a Circular Economy in the Built Environment” shows, the construction industry contributes approximately 277 Mt (million metric tonnes) CO2e per year, representing almost 9% of the EU’s annual GHG emissions. “While the industry is committed to high sustainability standards, there are unnecessary emissions caused by more complex issues such as wasted time and resources,” says Renzo. “It is our vision to counteract the common problems that slow, delay or even prevent projects from being completed with a robust digitisation platform for the industry.”

About Science Based Targets initiative

The Science Based Targets initiative (SBTi) supports companies in setting science-based emission reduction targets and thus increasing their own competitive advantage in the transition to a low-carbon economy. The SBTi is based on a partnership between CDP (originally: Carbon Disclosure Project), the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).

The initiative defines and promotes best practices for science-based goal setting and helps to remove barriers to implementation. As an independent body, the SBTi evaluates and approves the goals that companies set themselves.

Further information at: https://sciencebasedtargets.org/