MidEuropa’s Greenhouse Gas Emissions Reduction Targets Receive Validation from the Science Based Targets initiative

January 15, 2024

MidEuropa has received validation of our emissions reduction targets by the Science Based Target initiative (SBTi). These targets are consistent with the levels required to meet the Paris Agreement goals and limit warming to 1.5°C.

Our targets:

  • Commit to reduce absolute scope 1 and 2 GHG emissions 42% by 2030 from a 2021 base year.
  • Commit to 37% of our portfolio to set SBTi validated targets by 2028 from a 2021 base year.

MidEuropa’s portfolio targets cover 100% of its total investment by invested capital as of 2021.

MidEuropa’s ESG Manager Laura Mansfield says, “the latest IPCC climate science, described by the UN as “code red for humanity”, shows it is still possible to limit global temperature rise to 1.5°C, but we are dangerously close to that threshold. It is critical that we achieve rapid and deep emissions cuts across all sectors to halve global emissions before 2040 and achieve net-zero before 2050.

We are proud to have received validation by the SBTi for our emissions reduction targets and encourage our stakeholders to align with climate science by committing science-based 1.5°C and net-zero targets too.”

The science-based targets will be integrated into MidEuropa’s existing Responsible Investment approach as part of our ongoing contribution to a zero-carbon economy.

MidEuropa’s commitment to climate action was accelerated over the past 12 months with the following key initiatives:

  • Delivering ESG and science-based targets training to its investment teams
  • Disclosing emissions in its 2023 ESG Report
  • Publishing voluntary climate risk disclosures in line with the Taskforce for Climate-related Financial Disclosures (TCFD)
  • Continued membership to key industry initiatives including the initiative Climat International (iCI)

To find out more about MidEuropa’s commitment to climate action and wider ESG initiatives, please refer to our 2023 ESG Report.


About the Science-Based Targets Initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.