Brazilian MRV has SBTi targets approved
MRV, the largest construction company in Latin America, has reached another milestone in its sustainability journey: the approval of its greenhouse gas (GHG) emission reduction targets by the Science Based Targets initiative (SBTi) in the short term. The company becomes the first in the sector in Brazil to achieve this validation, thus reinforcing its commitment to climate practices in line with global goals to limit the increase in the planet’s temperature to 1.5°C.
SBTi’s validation ensures that MRV has set targets in line with what science considers necessary to limit the increase in global temperature to 1.5°C, as defined by the Paris Agreement, a treaty signed by 195 countries in 2015. These targets involve reducing direct emissions (Scope 1), indirect emissions related to electricity (Scope 2), and emissions from the value chain (Scope 3).
For Scopes 1 and 2, the company is committed to reducing emissions by 48.8% by 2030, taking 2019 as the base year. In Scope 3, it promises to reduce absolute GHG emissions by 27.5% by 2030, covering 74% of goods and services purchased and 58% of the use of products sold, based on 2019. In addition, it proposes that 14% of its suppliers, responsible for emissions associated with goods and services purchased, will have science-based targets by 2028.
“This achievement is another step towards consolidating our ESG strategy. It seeks to unite MRV’s sustainable growth with its responsibility to contribute to the future of the planet. SBTi validation is a recognition that we are on the right track, with actions based on and aligned with the best global practices,” states Raphael Lafetá, Director of Institutional Relations and Sustainability at MRV&CO.
MRV has already been implementing initiatives to manage emissions, such as its products’ Life Cycle Analysis (LCA) and Carbon Footprint studies. In addition, the company had the support of WayCarbon, a consultancy specializing in solutions for the transition to a net-zero economy, to align its targets with SBTi requirements. “Companies with SBTi-approved targets demonstrate adherence to the commitment to limiting global warming and engagement with such an important agenda. Society, the environment, and the planet all benefit. This certification approval demonstrates MRV’s commitment and opens doors to partnerships, sustainable investors, and a better market perception,” says Higor Turcheto, Consulting Manager at WayCarbon.