Energy Efficiency, GHG Emissions, Industrial, Sourcing Renewables - June 14, 2024
Otis Drops Emissions by 12%
OTIS Worldwide Corporation — an elevator and escalator manufacturing, installation and service company — lowered absolute Scope 1 and 2 emissions by 12% and absolute Scope 3 emissions by 5% from a 2021 baseline by measuring and managing the environmental impact of its products and operations and increasing its renewable energy use.
The company reported 33% of its factories’ electricity comes from renewable sources.
As detailed in its 2023 ESG Report, OTIS’s near-term science-based targets (SBTs) submitted to the SBTi in November 2023 were validated by SBTi in April 2024. These goals include the following:
- Reduce absolute Scope 1 and 2 GHG emissions 55% by 2033 from 2021 base year.
- Reduce absolute Scope 3 GHG emissions from purchased goods and services, business travel, and use of sold products 33% within the same timeframe.
"Our 2023 ESG report highlights critical programs and recent successes that are central to the continued growth and integrity of our business," said Otis Chair, CEO and President Judy Marks in a statement. "Our ESG pillars are embedded in our long-term strategy and purposefully connected to our Absolutes of Safety, Ethics and Quality, the core principles that guide us in doing the right thing as we conduct business around the world every day. By transparently reporting on our progress, we hold ourselves accountable, and we invite our stakeholders to join us on our journey."
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