Commercial, Energy Efficiency, GHG Emissions  -  March 11, 2024

ASSA ABLOY Lowers Emissions by 23%

ASSA ABLOY, a global company in access solutions, lowered its absolute carbon emissions in Scopes 1 and 2 by 23% in 2023 against the 2019 baseline and its water intensity by 51%.

As published in its Sustainability Report 2023, the Group's total absolute Scope 1 and 2 carbon emissions decreased by 4%. During the year, the Group continued to make progress on its sustainability program and targets to 2025. By the end of 2023, the Group had 246 Environmental Product Declarations verified and published.

The company also plans to reduce the footprint of its wider value chain including raw materials, logistics and products by 28% by 2030 — which addresses its Scope 3 footprint — and commits to net zero emissions across the whole value chain no later than 2050.

ASSA ABLOY’s Scope 3 emissions make up of the vast majority of its total emissions. To address this, the company assembled cross-functional, science-based targets teams to drive the most important activities to deliver on targets. 

In 2023, the company expanded its Task Force on Climate-related Financial Disclosures (TCFD) reporting to include quantitatively assessing its climate-related opportunities as well as climate-related risks. 

In preparation for the pending EU Corporate Sustainability Reporting Directive (CSRD), the company’s approach includes a gap analysis to determine its current status and a double materiality assessment to understand its impact materiality and financial materiality. 

"Our dedicated teams across the organization continued to implement focused projects, ensuring we are on a good path to realizing our 2025 targets," said Nico Delvaux, President and CEO of ASSA ABLOY, in a statement. "We are committed to delivering on our ambitious Science Based Targets (SBT), to halve our absolute Scope 1 & 2 carbon emissions and reduce absolute Scope 3 carbon emissions by 28% by 2030. Our long-term commitment to sustainability will provide significant opportunities to reduce our costs, reduce our climate risk, and to develop more sustainable solutions to meet our customers' needs."

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