Ericsson, a Swedish multinational networking and telecommunications equipment company and a leader in developing ML and AI, has received approval from the Science Based Targets Initiative (SBTi) for its second set of climate action targets, marking a significant step toward achieving Net Zero emissions by 2040. The company has pledged to cut emissions by 90% across its value chain from 2020 levels by the end of 2040, with plans to neutralize the remaining 10% through approved carbon removal methods.
This approval follows Ericsson’s successful fulfilment of its initial SBTi-endorsed targets, which were aligned with the Paris Agreement‘s goal to limit global warming to 1.5°C. Ericsson exceeded its previous commitments by reducing certain emissions by up to 60% and achieving a 39% energy savings in its Radio Systems compared to older models.
The SBTi, a UN-backed entity that evaluates corporate emissions reduction plans against current climate science, has endorsed Ericsson’s comprehensive strategy to address climate change. This includes a 50% reduction in all scope 1, 2, and 3 greenhouse gas emissions by 2030 from a 2020 baseline, with a 90% reduction in scope 1 and 2 emissions and a 50% reduction in scope 3 emissions within the same timeframe.
Heather Johnson, Ericsson’s Head of Sustainability and Corporate Responsibility, emphasized the company’s commitment to a science-based approach to climate action, underscoring its importance for stakeholders and society at large.
Ericsson’s ambitious climate goals underscore its leadership in corporate sustainability and its dedication to contributing to global efforts to combat climate change.
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