GHG Emissions, Industrial  -  July 28, 2021

Parker Hannifin Unveils Carbon Neutrality Goal

Parker Hannifin announced July 27 its new goal to achieve carbon-neutral operations by 2040.

The motion technologies company released its 2020 Sustainability Report, detailing its other new targets like reducing Scope 1 and 2 emissions by 50% by 2030 through energy efficiency projects and investments in renewable energy. Its other main target will be reducing Scope 3 emissions from materials sourcing, logistics and services by 15% by 2030 and 25% by 2040.

Parker reduced its energy intensity by 42% and greenhouse gas intensity by 50% between 2010 and 2020. The company also has a climate disclosure score ranked in the top quartile among diversified industrial peer companies.

“Parker has made great progress on our sustainability journey and we recognize the need to do even more,” Tom Williams, chairman and CEO of Parker, said in a statement. “Our technologies enable customers around the world to be cleaner and more efficient, and this commitment to reducing our own carbon emissions is another important step we are taking to create a more sustainable future for generations to come.”

A key part of Parker’s business plans is creating technology solutions that help others with the adoption of energy efficiency strategies and electrification. Some of these products include engineered materials for thermal management, technologies that support clean energy sources like batteries and fuel cells, electro-hydraulic motion technology and other electro-mechanical innovations for electric aerospace, mobile and industrial applications.