What is SBTi?
The SBTi, Science Based Targets initiative, is a global organization that helps companies and financial institutions set ambitious emission reduction targets based on the latest climate science. Their aim is to halve global emissions by 2030 and achieve net-zero by 2050. SBTi provides standards, tools, and guidance for setting and achieving these targets, independently assessing and approving company goals.
Steps towards net-zero by 2050
Diehl Metering took another step to corporate climate responsibility with a new sustainability initiative. In June 2024 we registered to Science Based Target initiative (SBTi). This means that we commit to reach net-zero by 2050. Thus, the next step is to develop science-based targets to reduce greenhouse gases emissions and get validated by the SBTi latest June 2026:
- set 1,5°C aligned scope 1 & 2 targets,
- set targets aligned with well-below 2°C pathways for scope 3.
These reduction targets will cover Diehl Metering as well as its entire value chain. It means that SBTi impacts Diehl Metering’s operation but also the broader network of suppliers, distributors, and other partners involved in our business.
What does it mean to be net zero approved by SBTi?
The Science Based Targets initiative (SBTi), independently assesses and validates companies’ targets in line with the objectives of the Paris Agreement. Being recognized by the SBTi Net-Zero standard indicates that our company's net-zero emissions targets are credible and based on scientific data. Being 'net-zero approved' certifies that we have established and implemented a plan to reduce our greenhouse gas emissions (GHG) to a net-zero level by 2050. It shows that we’re making a significant contribution to global efforts to mitigate climate crisis.
The importance and risks of SBTi approval
Sustainability criteria are becoming an increasingly important part of business. Diehl Metering’s commitment to these criteria is highly ambitious. However, there is a risk of being removed from the Science Based Targets initiative (SBTi) if targets are not submitted on time or fail to be validated. This issue affected around 200 companies at the beginning of the year. Being approved by the SBTi is a mark of high standards for companies.
Advancing the sustainability model
Through our commitments, we aim to be at the forefront of sustainability leadership within the utility and metering industry. The targets to reduce greenhouse gas emissions are consistent with our corporate climate responsibility. Achieving science-based targets strengthens the confidence of our stakeholders, including customers, investors and partners, who are placing increasing emphasis on sustainable development. We are also anticipating future regulatory requirements and market expectations in terms of emissions and sustainability.
Race to zero
By committing to setting a net-zero target, we’ve also become part of Race to Zero, the UN-backed campaign. Race to Zero is the UN-backed global campaign rallying non-state actors – including companies, cities, regions, as well as financial, educational, and healthcare institutions – to take rigorous and immediate action to halve global emissions by 2030. All members are committed to the same overarching goal: reducing emissions across all scopes swiftly and fairly in line with the Paris Agreement, with transparent action plans and robust near-term targets.
Our commitment is now showcased and publicly accessible on Companies taking action - Science Based Targets Initiative and on SBTi partner’s website We Mean Business Coalition. As a UN Global Compact signatory, our net-zero commitment will also be recognized under its Forward Faster initiative and listed here shortly after your net-zero status is reflected on the SBTI website.
Follow Us for more updates on our sustainability journey. Or, subscribe to our newsletter to get all the updates delivered straight to your inbox!