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https://theconversation.com/nz-post-is-the-latest-company-to-drop-its-climate-targets-another-sign-business-is-struggling-to-decarbonise-260589>
"NZ Post committed to cutting its emissions by 32% by 2030 (based on 2018
levels), but recently announced it would abandon its climate target.
The company was part of the Science Based Target initiative (SBTi), the leading
international body allowing businesses worldwide to set and validate targets
which they can then promote as backed by science.
More than 10,000 businesses have joined SBTi and the database currently
includes 36 New Zealand businesses with active targets or commitments.
In recent years, however, well known businesses have been abandoning SBTi. NZ
Post’s decision follows Air New Zealand’s announcement to withdraw last year
and Auckland Airport’s less publicised decision not to renew its SBTi target.
NZ Post was one of the early adopters of SBTi in New Zealand. Its initial
commitment in 2018 included not only the company’s own direct emissions (known
as scope 1) but also purchased energy (scope 2) and other indirect emissions
(known as scope 3, such as emissions from air freight or waste disposal).
In the past few years, NZ Post has signalled its intention to update its target
to pursue even greater reductions of 42%. In 2023, it made a commitment to
align itself with a pathway to achieve net zero by 2050.
But the company has now decided to fully withdraw from SBTi. NZ Post’s website
announcement states:
After careful consideration and a thorough assessment of both technical
feasibility and financial implications, it has become clear that our target
is no longer feasible at a technical level and, given the scale of
investment required, under present economic conditions.
NZ Post seems to have found itself in the contradiction between economic
objectives and climate action. Ambitious climate action seems to rarely win
such a battle.
The company was already questioning its ability to meet its SBTi targets in its
2022 and 2023 climate disclosures. Its parcel volumes were growing and it
struggled with emissions associated with heavy freight and aviation.
It also stated its emissions had increased due to the acquisition of Fliway
Group, improved supply-chain data, and emission factor changes. This indicated
it would struggle to meet even less ambitious climate targets."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
