Otis, an elevator and escalator manufacturing, installation and service company, announced the Science Based Targets initiative (SBTi) approved its near-term GHG emissions reduction targets.

The company’s SBTi-approved targets include lowering absolute Scope 1 and 2 GHG emissions 55% by 2033 from a 2021 base year and reducing absolute Scope 3 GHG emissions from purchased goods and services, business travel, and use of sold products 33% within the same timeframe.

“We are responsible for delivering sustainable value for all stakeholders. At Otis, ESG is firmly embedded in our business strategy and culture. We see it as a critical investment in our future, driving innovation and making our business stronger and more resilient,” said Otis Chair, CEO and President Judy Marks in a statement. “This approval from SBTi is an important milestone in our sustainability journey.”