Last Mile Brief 11/09: Royal Mail Net-Zero targets validated by SBTi
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Royal Mail’s Net-Zero and near-term targets have been validated by the Science Based Targets initiative (SBTi).
SBTi has validated that the corporate greenhouse gas emissions reduction targets submitted by Royal Mail are in line with the latest climate science to limit global warming to 1.5°C above pre-industrial levels.
The targets are part of Royal Mail’s Steps to Zero strategy which outlines how it will achieve Net-Zero by 2040.
Royal Mail’s average emissions per parcel is currently 218gCO2e per parcel, and the company has set a long-term target to reduce the average to 50gCO2e.
SBTi has validated the following targets from Royal Mail:
Overall Net-Zero Target
Royal Mail Group Ltd commits to reach Net-Zero greenhouse gas emissions across the value chain by FY2040 from a FY2020 base year.
Royal Mail Group Ltd commits to reduce absolute scope 1 and 2 GHG emissions 50% by FY2030 from a FY2020 base year.**
Royal Mail Group Ltd also commits to reduce absolute scope 3 GHG emissions 25% by FY2030 from a FY2020 base year.
Royal Mail Group Ltd commits to reduce absolute scope 1, 2 and 3 GHG emissions 90% by FY2040 from a FY2020 base year.
SBTi is a global body that enables businesses to set emissions reductions targets that are in line with the latest climate science. By independently assessing companies’ targets, SBTi defines and promotes best practice in for Net-Zero ambitions.
Greg Sage, Deputy Director Corporate Affairs & ESG at Royal Mail, said:
“Royal Mail’s Net-Zero and near-term targets are integral to our Steps to Zero environment strategy. SBTi’s validation of our targets is an important step on our journey to achieving Net-Zero. Royal Mail is already the UK’s greenest option for letters and parcels but we know we need to go further and faster in decarbonising our business and driving wider change.”