Airline company Virgin announced its net-zero target was approved by the Science Based Target initiative (SBTi).

Reporting under Virgin Holdings Limited, this is a milestone as part of the group’s long-term goal in Changing Business for Good, according to a statement.

The company committed to reaching net-zero GHG emissions across its value chain by 2050, reducing absolute Scope 1 and 2 GHG emissions 50% by 2030 from a 2023 base year, reducing absolute Scope 1, 2 and 3 GHG emissions by 90% by 2050 from a 2023 base year and ensuring 68% of its Virgin companies by emissions will have science-based targets by 2029.

Virgin’s targets are built around absolute immediate emission cuts.

The company also recently joined Giant Ventures’ new purpose-driven tech fund. Giant Ventures is a venture capital firm for technology founders that builds and backs technology companies solving challenges in climate, health and inclusive capitalism.

Giant recently announced the launch of two new funds totaling $250 million: a $100 million seed fund that will back 25 early-stage companies and a $150 million climate-focused growth fund that fills a major Series B climate funding gap, providing scale-up capital to the world’s leading climate technology companies.