Pirelli has announced that its near- and long-term net zero targets have been approved by the Science Based Targets initiative (SBTi). The targets are in line with the Paris Agreement to keep global warming within 1.5°C.
These targets were communicated last March when the company presented its 2024-2025 business plan update. SBTi has validated Pirelli’s long-term target of net zero by 2040 and its near-term target to reduce absolute Scope 1, 2 and 3 greenhouse gas emissions by at least 90% compared with the 2018 base year.
SBTi has also endorsed other Pirelli decarbonization targets: an 80% reduction in absolute greenhouse gas emissions by 2030 compared with 2018 (Scopes 1 and 2), and a 30% reduction in emissions from the purchase of raw materials, services and transportation by 2030 compared with 2018 (Scope 3).
Marco Tronchetti Provera, executive vice chairman of Pirelli, said, “The validation of our 2040 net zero targets by the Science Based Targets initiative makes us proud as it confirms the scientific soundness of the path we are committed to along the entire value chain. A pathway that is part of a complex global context and a transition process whose resilience must be supported by realistic and sustainable targets.”
