IGT has notified investors that it has received validation from the Scientific-Based Target initiative (SBTi) for its near and long-term net zero carbon emissions targets.
As part of the validation, the SBTi has confirmed that IGT is committed to reaching its net zero target by the 2050 deadline.
IGT signed up to the SBTi in the last couple of years as it aims to bolster its ESG credentials within the industry. The SBTi is a collaborative organization comprising the CDP, the United Nations Global Compact and WWF to promote best-practice in scientific-based target setting when it comes to protecting the environment.
“Receiving this validation from the SBTi represents a milestone achievement for IGT as it reassures our stakeholders that we are committed to reaching net-zero GHG emissions,” said Wendy Montgomery, IGT SVP, Marketing, Communications and Sustainability.
“IGT’s science-based targets provide us with a clearly defined approach to reducing our GHG emissions and mitigating the impact of climate change, all while ensuring sustainable growth for our business.”
For its near-term targets, IGT is committed to reducing its Scope 1 and Scope 2 greenhouse gas emissions by 50% by 2030 from the initial date of 2019. Meanwhile, it is aiming to reduce Scope 3 emissions by 30% in this decade.
From a long-term perspective, IGT is committed to reducing its Scope 1 and 2 emissions by 90% by 2050. Using the SBTi criteria, the firm would also reduce Scope 3 emissions by 90% in the same time frame.
IGT will also aim to offset the remaining 10% of emissions by 2050, though its main priority is to reduce direct emissions before offsetting.
“Direct emissions reductions will be prioritized, and all residual emissions will be neutralized in line with SBTi criteria before reaching net-zero emissions,” IGT stated to all stakeholders.