Otis Worldwide’s emissions reduction targets approved by SBTi

Otis announced that the Science Based Targets initiative – SBTi – has approved its near-term science-based greenhouse gas emissions reduction targets. Otis‘ SBTi-approved targets are: reduce absolute scope 1 and 2 GHG emissions 55% by 2033 from a 2021 base year; reduce absolute scope 3 GHG emissions from purchased goods and services, business travel, and use of sold products 33% within the same timeframe; these targets demonstrate the company’s commitment to meeting the objective of the Paris Agreement to limit global warming to no more than 1.5 degrees Celsius above pre-industrial levels. SBTi is a partnership that defines and promotes best practices in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.