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Foxway’s pursuit of sustainability validated by SBTi

Foxway's pursuit of sustainability validated by SBTi

Foxway has received validation from the Science Based Targets initiative (SBTi) for its ambitious emissions reduction targets, both immediate and long-term. The company has committed to a 42% reduction in scope 1 and 2 greenhouse gas (GHG) emissions by 2030 from a 2022 base year, and aims to source 100% renewable electricity by the same year. For the long haul, Foxway sets its sights on a 90% reduction in both scope 1, 2, and 3 GHG emissions by 2050, aligning with the urgent global call to halve emissions by 2030 and achieve net-zero before 2050 to limit the temperature rise to 1.5°C.

To reach these targets, Foxway has outlined a comprehensive decarbonisation plan, emphasising transparency and direct action in reducing emissions. This plan includes steps to meet the 2030 goals and begins the journey towards the 2050 net-zero ambition. However, Foxway acknowledges that achieving net-zero will require significant contributions from third parties, including original equipment manufacturers and the broader industry, to reduce the GHG footprint of products and services.

The path to reducing emissions is a collective effort, and in 2022, Foxway’s scope 3 emissions accounted for nearly all (99.8%) of its total CO2e emissions. The company is focused on driving change across the value chain, encouraging the use of refurbished devices, circular business models, renewable energy, and low-carbon transportation. Foxway’s validated targets by SBTi are not just milestones but also serve as a clarion call to the industry for unified action towards a sustainable future.

Kai-Riin Kriisa, Chief Sustainability Officer at Foxway commented that “There is an urgent need for similar guidelines in other impact areas as well, such as land use change and water use. Unfortunately, developing these standards has proven to be a challenging task. At Foxway, we’re firm believers in science-backed methods. We fully support the Science Based Targets initiative and are proud to have our climate targets validated and approved.”

 

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