Liechtenstein-based tool specialist Hilti Group has committed to reducing carbon emissions outside of its own operations by joining the Science Based Targets initiative (SBTi).

According to Hilti, its ambition is to become CO2-neutral by the end of 2023, which will see it cover both scope 1 and 2 of the SBTi targets as well as scope 3, which includes lowering emissions from business travel.

Photo: Hilti

The company says the decision is in line with the goals set in the Paris Agreement and that it will work to reduce carbon emissions across its entire value chain and support its customers in a net-zero future.

Founded in 2015, SBTi is a global collaboration between the Carbon Disclosure Project, the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature. It aims to set targets for companies to reduce emissions.

Hilti says it will invest a 鈥渢riple-digit million Swiss franc amount鈥� in order to implement 鈥渟ystematic changes into its own business processes and to further encourage the development of its partners.鈥�

Following the announcement, Hilti will develop and submit its targets for STBi validation within 24 months.

Jahangir Doongaji, Hilti Group CEO, said, 鈥淏eyond our ambition to become CO2-neutral by 2023, we are also tackling emissions outside of our own operations on our path to net-zero.

鈥淲ith our commitment to science-based targets we will decrease emissions along the entire value chain. This supports our customers鈥� sustainability initiatives and enables us to contribute to the much-needed transformation of our industry.鈥�