Carol Borg, Chief Financial Officer
Why is this important?Human influence has unequivocally contributed to the warming of the planet and climate change is a real and urgent issue for humanity. The science is compelling and it is clear that we need to limit warming to no more than 1.5°C above pre-industrial levels to avoid the most significant climate change impacts on human and natural systems. It is essential that business’ plays their part; reducing GHG emissions – particularly in the near-term – adapting to changes, and innovating in order to reach Net-Zero by 2050 or sooner.
Our Net-Zero PlanAt QinetiQ we take that responsibility seriously. In March this year, we were proud to publish our Net-Zero GHG Emissions Plan. We need to successfully deliver a diverse range of initiatives to achieve Net-Zero across our whole value chain (Scopes 1, 2 and 3), globally. We also consider it important that we lead initiatives beyond our value chain; leveraging our capabilities and market position to contribute to net-zero beyond QinetiQ. Our Net-Zero Plan includes achievable near- and long-term Net-Zero science-based GHG emissions reductions targets, which are aligned with the 1.5°C pathway. They are based on a planned programme of activities, applying a data-driven approach to inform what we do and when. We developed these in accordance with the SBTi Net-Zero Standard and criteria and the associated GHG Protocol Corporate Standards.
The SBTi has verified QinetiQ’s near- and long-term Net-Zero science based targets (please see their website). We are also delighted to be part of the Business Ambition for 1.5°C campaign, which is part of the UN-backed Race to Zero.
Our programme is underway and we are working on our four categories of initiative to make progress (for more details please see the Net-Zero plan). We also recognise that options for tackling GHG emissions will evolve or newly emerge and so we will continue to horizon scan for opportunities to accelerate our transition to becoming a Net-Zero organization.