Climate change is one of our greatest challenges of the century and requires engagement from both public and private sectors as well as from each individual ensuring that average global temperature increase is well-below 2 °C and striving to limit it to 1.5 °C compared to the pre-industrial era, as stated in the Paris Agreement. Scientists warn against crossing this threshold in order to avoid catastrophic natural disasters, negative impact on health and wealth of the residents. Climate clock shows the time when the carbon budget will run out in relation to the current emissions and the global temperature increase caused by human activities (read more).
We have set science-based targets to halve our emissions by 2030
By joining the Business Ambition for 1.5 °C initiative, Ignitis Group has committed itself to achieve net zero by 2050 at the latest. Ignitis Group’s ambitious interim greenhouse gas (GHG) emission reduction targets were validated by the Science-Based Targets initiative in November 2021, which confirmed that our targets comply with the latest scientific recommendations on the steps to be taken to keep global temperature increase to well-below 1.5 °C. We are the first Lithuanian capital company whose GHG emission reduction targets have been validated by the initiative of global organisations battling climate change. The number organisations whose targets have been validated reaches just over 1,800 globally.
GHG emissions reduction targets (from a 2020 baseline)
We calculate GHG emissions of the Group’s activities according to GHG protocol standards. Calculations of annual emissions are audited by external auditors. We periodically publish the information on our emissions together with the Group’s reports and strive to improve calculation accuracy and ensure that the relevant information meets the expectations of all stakeholders.
Emission reduction targets
Ignitis Group has committed to reduce total GHG emissions by 47% by 2030 from a 2020 baseline. Emission reduction targets include at least 94% of total GHG emissions of the Group. We have committed to reduce both direct and indirect emissions pursuant to the latest scientific recommendations on the steps to be taken to keep global temperature increase to well-below 1.5 °C.
How do we reduce emissions?
We are one of the leading green energy companies in the region and are committed to consistently increase green generation capacity in both electricity and heat production. Our business strategy is based on the development of onshore and offshore wind, waste-to-energy, biofuel and solar energy technologies. We are also ardent promoters of clean energy, energy efficiency and measures for changing consumption habits.
“The energy sector globally is responsible for a significant part of greenhouse gas emissions emitted to the atmosphere. Therefore, efforts made by energy companies are vital in reducing the emissions. I believe that, by implementing our strategy, growing and developing electricity generation from renewable energy sources, we will play a critical role in the region’s path to green economy and sustainable future.”
Management Board Chair and CEO at Ignitis Group