Veolia Achieves Major Milestone in Climate Strategy with SBTi Validation

August 7, 2024 /3BL/ - Veolia has made significant strides in its climate strategy by securing validation from the Science Based Targets initiative (SBTi) for its ambitious decarbonization goals. The SBTi, recognized as a leading authority in climate action, commended Veolia's net-zero ambition, labeling it the most ambitious among its tracked organizations. This validation underscores the company's commitment to decarbonization as a core element of its performance model, driving long-term value for both the Group and its clients. Central to Veolia's efforts is a €1.6 billion initiative aimed at transitioning from coal-based energy production to less carbon-intensive alternatives. The company is also focused on developing local decarbonizing energy solutions. Notably, Veolia has pioneered efforts to eliminate emissions for its clients classified under Scope 41, actively promoting ecological transformation and the decarbonization of industrial activities. In 2023 alone, Veolia successfully contributed to the reduction of 13.8 million tons of emissions. The Group's emission reduction targets align with the 1.5°C trajectory established by the Paris Agreement, forming a key component of its GreenUp strategic program. Additionally, Moody’s has recognized the quality of Veolia’s transition plan, awarding it an NZ-2 rating, which reflects the ambition and robustness of its short-term implementation strategies. This dual validation from both SBTi and Moody’s positions Veolia as a leader in corporate climate commitments.