Commercial, Energy Efficiency, GHG Emissions - November 13, 2023
Universal Music Group's Targets Validated by SBTi
Universal Music Group N.V., a music-based entertainment company, announced that its GHG emission reduction targets were approved by the Science Based Targets initiative (SBTi).
"I am incredibly proud of the organization-wide efforts that have brought us to this milestone,” said UMG's Executive Vice President, Chief Financial Officer and President of Operations Boyd Muir, in a statement. “By aligning our operations with science-based targets, we deepen our commitment to embed sustainability principles into our business practices and to innovate for a resilient future in which both global communities and music lovers thrive."
The Science Based Targets initiative (SBTi) has validated that the science-based greenhouse gas emissions reductions targets submitted by UMG conform with the SBTi Criteria and Recommendations version 5.
The Universal Music Group N.V. committed to achieving ambitious GHG emissions targets across all scopes and has outlined a pathway to lower absolute Scope 1 and 2 GHG emissions 58% by 2032 from a 2019 base year. It has also committed to reduce Scope 3 GHG emissions from purchased goods and services, capital goods, fuel- and energy-related activities, upstream transportation and distribution, waste generated in operations, business travel, and employee commuting by 62% per EUR value added within the same timeframe.
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