Cogeco is committed to doing its part to fight the impacts of climate change and secure a thriving, sustainable economy. As part of this commitment, we have set new emissions reduction targets that have been approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the goals of the Paris Agreement. The Science Based Targets initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.
Our targets cover emissions from our operations as well as emissions from our value chain and are as follows:
Cogeco commits to reduce absolute Scope 1 & 2 emissions by 65% by 2030 from 2019.
Cogeco also commits that 50% of suppliers by spend covering purchased goods & services and capital goods will set science-based scope 1 & 2 emissions reduction targets by 2025.
In addition we will reduce emissions from the use of sold products and employee commuting by 30% by 2030 from 2019.
The targets covering greenhouse gas emissions from our operations (scopes 1 and 2) are consistent with reductions required to keep warming to 1.5°C, what the latest climate science has told us is needed to prevent the most damaging effects of climate change. The targets for the emissions in our value chain meet the SBTi’s criteria for ambitious value chain goals, meaning they are in line with current best practice.
As a further indication of our commitment to climate action, Cogeco has joined corporate leaders representing more than $3.6 trillion in market cap, in signing the Business Ambition for 1.5°C commitment, an urgent call to action to limit the worst impacts of climate change.