GENEVA, Switzerland, 23 March 2022: Johnson Controls joined over 200 companies as the newest member of the World Business Council for Sustainable Development (WBCSD).
Making the announcement through a Press release, Johnson Controls said it continues to take significant steps to further improve its environmental impact and has committed to achieving net zero Scope 1 and 2 carbon emissions by 2040 – 10 years ahead of the Paris Climate Agreement goal. By 2030, the company said, it aims to cut its Scope 1 and 2 emissions by 55% and reduce Scope 3 emissions by 16%. These ambitious 2030 emissions reduction targets have been approved by the Science Based Targets initiative, it added.
Johnson Controls said it also recently became the first S&P500 industrial company to release an Integrated Sustainable Finance Framework as well as issue a Sustainability-Linked Bond. This, it said, builds on its green finance initiative, following its prior green bond issuance and the linking of its senior credit facility to sustainability metrics. As part of its Integrated Sustainable Finance Framework, Johnson Controls said, it further committed to achieving interim absolute emission reduction targets by 2025.
Johnson Controls said it is a member of both the WBCSD decarbonization and circular economy working groups for the Built Environment. With an integrated focus on designing buildings with low to no carbon, standardizing measurement across the industry and delivering nature-positive solutions, the two working groups are on the forefront of designing the future of sustainable, equitable cities, it said.
“We are delighted to join WBCSD”, said Katie McGinty, Vice President and Chief Sustainability and External Relations Officer, Johnson Controls. “The building sector accounts for nearly 40% of global annual CO2 emissions, so there is no tackling climate change without substantial investment in buildings. We look forward to working with, and learning from, fellow WBCSD members, leading the way to a low carbon, nature positive, sustainable economy, together.”
Peter Bakker, President and CEO, WBCSD, said: “WBCSD is working to accelerate the system transformations needed for a net-zero, nature-positive, and more equitable future. To achieve our vision of creating a world in which nine+ billion people are living well, within planetary boundaries, by mid-century, we need to engage executives and sustainability leaders in business. Therefore, I am delighted to welcome Johnson Controls as the newest member of WBCSD. As a global leader in the built environment sector, with an ambitious goal to achieve net-zero carbon emissions by 2040, we are excited to work alongside Johnson Controls to solve the intertwined sustainability challenges of the climate emergency, biodiversity loss, and mounting inequality.”