04 Aug ASTM has committed, through the Science-Based Target initiative, to set company-wide emissions targets in line with science
Investors and other stakeholders need to understand how an organization measures and monitors its climate-related risks and opportunities. The availability of the metrics and targets used by the organization allows Investors and other Stakeholders to better assess its performance given potential risks, ability to meet financial obligations, overall exposure to climate-related factors, and its progress in managing these issues. Metrics and goals also provide a basis upon which Investors and other Stakeholders can compare organizations within the same industry.
Given these assumptions, ASTM is committed to setting science-based targets to promote the sustainable success of the Group, to assess and manage climate-related risks and opportunities and to stimulate the adoption of innovative technologies and processes.
The internationally recognised Science Based Target initiative was created to guide companies in setting ambitious climate change reduction targets to ensure that an organisation’s strategy is in line with scientific objectives. Targets adopted by companies to reduce greenhouse gas (GHG) emissions are considered science-based if they are in line with the level of decarbonisation required to keep the global temperature increase below 2 degrees Celsius compared to pre-industrial temperatures, as described in the Intergovernmental Panel on Climate Change’s Fifth Assessment Report (IPCC AR5).
The challenge of cultural and technological change to mitigate the impact on climate is complex. ASTM is determined to meet it and turn it into a great opportunity for its own future and for the future of all the communities in which it operates.