Hilti to make triple-digit million investment towards climate targets
12 January 2023
The Hilti Group has committed to the climate protection criteria of the Science Based Targets Initiative in line with the goals of the Paris Agreement. Hilti will seek to achieve net zero along its entire value chain with investments in the triple-digit million range.
In the coming years, Hilti will invest an unspecified triple-digit million sum as part of its efforts aimed at reducing CO2 emissions in the construction industry. As the global construction machinery manufacturer based in Schaan in Liechtenstein writes in a press release, around 40 percent of CO2 emissions worldwide are caused by the construction industry.
The framework via which Hilti will seek to achieve net zero outside of its own operations is now centered around the company’s commitment to the climate targets of the Science Based Targets Initiative (SBTi). Accordingly, Hilti will develop a detailed action plan based on the goals of the Paris Agreement, which will be submitted to the SBTi for validation within 24 months.
The SBTi is calling for companies around the world to significantly reduce their carbon footprints by 2030, with the aim of achieving net zero emissions by 2050. The organization is a partnership between the Carbon Disclosure Project, the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature.
“With our commitment to science-based targets we will decrease emissions along the entire value chain”, comments Jahangir Doongaji, Hilti Group CEO, in the press release, before adding: “This supports our customers’ sustainability initiatives and enables us to contribute to the much-needed transformation of our industry”. According to information from the company itself, Hilti will achieve CO2-neutrality in its own operations in 2023.