How AVEVA is investing in our planet and shared future
Posted: April 22nd, 2022
The path to net zero emissions is narrow and we must urgently “Invest in Our Planet” to still have a chance to limit the rise in global temperature to 1.5°C. As more than 40% of global emissions today are produced by the industrial sector we simply cannot get there without accelerating the realization of more sustainable industries.
So how are industries at large responding to the challenge and opportunity to make a net-zero future a reality and how is AVEVA supporting them?
Accelerating the net-zero transition with digital innovation
Heightened investor pressure is helping accelerate the transition to a better future for both people and our planet. Sustainable investment funds surpassed one trillion dollars for the first time in 2020, with some $130Bn also flooding into the COP26 Glasgow Financial Alliance for Net Zero earlier this year. The U.S. government's recent proposal on mandatory corporate disclosure of climate-related risks aligns with efforts made by financial regulators in the UK and a growing number of other countries to make it easier for investors to assess how companies are responding to our warming planet.
AVEVA’s own research confirms that more than 90% of business leaders now see tackling climate change as a core business responsibility.
Technology is critical to industry decarbonization as part of fighting the climate crisis and has a key role to in reshaping the energy sector we all rely on. More than 20,000 leading industrial companies in twelve diverse sectors already rely on AVEVA’s solutions to help them deliver life’s essentials. This includes Neste, the world’s largest producer of renewable diesel and jet fuel, who is using the cloud-based AVEVA™ Unified Supply Chain solution to advance toward its target of becoming carbon neutral by 2035. At AVEVA, we call the ability of our software to drive sustainable outcomes our technology handprint, and this is where we have the biggest opportunity to make a positive impact.
We are seeing rapid digital transformation happening in many industries and are proud to be helping our customer realize their sustainability ambitions and reach new energy frontiers. For example, EPCs in Europe and Canada are using the latest version of AVEVA™ Unified Engineering to support the efficient design and engineering of new clean hydrogen plants, which should be operational within the decade. It is projected that clean hydrogen can contribute as much as 20% of the total abatement needed in 2050 to achieve a net zero global economy and will be crucial in the successful decarbonization of heavy industry.
Mitigating our own impacts on the planet
At AVEVA, we believe businesses have an inherent responsibility to lead on sustainability by example, and we call this our operational footprint. We have committed to achieve net zero across our operations (scopes 1 & 2) by 2030, with no more than 10% offsets. We have also pledged to reduce our value chain emissions (scope 3) by 50% by the same timeframe. These targets are aligned with limiting global warming to 1.5°C and have been submitted for validation to the Science-based Targets Initiative (SBTi). SBTi is also reviewing our longer-term pledge to be net zero across our value chain no later than 2050.
As part of our efforts to make progress on these targets, we have recently transitioned to 100% renewable energy for our global offices through a combination of renewable energy credits (RECS) and participation in green tariff programs offered by local utilities. We are migrating AVEVA’s corporate car fleet to electric vehicles and continuing to transition to co-located data centers with strong green credentials. We are increasing our focus on low-carbon innovation in our product design, recently joining the Green Software Foundation. We are also working with our global cloud providers to understand and minimize our related emissions and, in the wake of the pandemic, continue to expand our transition to dynamic work and improve our sustainable business travel and commuting policies.
Transparency around our sustainability efforts is important. Last year, we published our first dedicated Sustainability Report and our upcoming FY22 Annual Report will be our first integrated report. This report will be fully aligned with the 11 recommendations of the Taskforce on Climate-Related Financial Disclosure and address how other Environmental, Social and Governance (ESG) issues impact our strategy and business performance. As the need to act on global emission mitigation has become increasingly urgent, more and more companies are aligning their sustainability goals with financial incentives. In FY22, all members of the AVEVA executive leaders team carried an ESG goal as part of their remuneration incentives, inclusive of an GHG emissions reduction target. Looking ahead, we hope to build on our climate actions to date and, together with our customers, partners and other stakeholders, make a net-zero world a reality for the next generation.
- Tune into my latest sustainability podcast here, which focuses on the importance of combining diplomacy with commitments from the business community, with strategies businesses can adopt to reduce their impacts.
- Discover more about how AVEVA is helping industries realize a net-zero future here.
- Learn more about Earth Day, recognized on April 22, and this year’s theme #InvestInOurPlanet, here.