Smiths has committed to ambitious net zero targets that align with the UN’s critical global climate objectives and the ambition to limit global warming to 1.5°C. We are planning for success with a net zero/climate transition plan which describes how, through consistent and prioritised focus across all aspects of our business over the next 25 years, we will deliver net zero emissions from our operations (Scope 1 & 2) by 2040 and our value chain (Scope 3) by 2050. Both our interim and overall targets have been validated by the Science Based Targets initiative.
Our roadmap to net zero
We have established a robust and credible, bottom-up decarbonisation pathway and delivery plan, incorporating interim emission reduction targets, to meet our long-term net zero commitments.
Our net zero transition plan
Delivering net zero is a critical commitment for Smiths. We have set our roadmap and we have already taken significant steps on the journey, including having our targets validated by the SBTi. Over 25 years we know that the route of the journey may alter and that we will need to maintain flexibility and a relentless focus on always moving forward.
Our net zero trajectory
Net zero in our operations by 2040
For Scope 1 & 2 our critical path is based on energy efficiency, green electricity and alternative fuels.
Net zero in our value chain by 2050
For Scope 3 our critical path is based on supplier engagement and reporting, supplier science-based targets and external transition including grid decarbonisation.
Our progress to date
Smiths has had environmental targets since 2007. We have recently significantly sharpened our targets to align them with the pace of emission reductions required for net zero in our operations by 2040. This included incorporating emissions and energy efficiency performance into our reward incentives. We performed strongly against these in FY2023.
year-on-year improvement in energy efficiency
renewable electricity in our operations
year-on-year reduction in Scope 1 & 2 emissions
Turn it off today for a brighter tomorrow
Energy efficiency is the foundation of our net zero transition plan to 2040. Changes we make at our sites and offices today will deliver benefits in every year of the plan – to our emissions and to our operating margin.
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Commercialising high-value green technologies
Our unique engineering capabilities and pioneering spirit position Smiths strongly to support customers on their journeys to decarbonise and deliver next-generation efficient and sustainable infrastructure and processes.
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Respecting natural resources
Natural resources are finite, and we believe that all businesses have a responsibility to use them respectfully and safely.
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UN Sustainable Development Goals
Our business activities and the way we operate enables us to contribute in a meaningful way to seven of these critical global goals.
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