Submits Proposed Near-Term Targets to
SBTi
FARMINGTON, Conn., Nov. 9, 2023
/PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) today
announced its commitment to setting near-term science-based
greenhouse gas (GHG) reduction targets, which have been formally
submitted to the Science Based Targets Initiative (SBTi) for
evaluation.
The submission includes proposed GHG emissions reduction targets
for Scopes 1, 2 and 3, against a 2021 baseline. This SBTi
commitment stands as a significant addition to Otis' existing
public Environmental, Social and Governance (ESG) objectives and
underscores Otis' dedication to combat climate change with decisive
and principled action.
The science-based targets (SBTs) are founded on what the most
up-to-date research identifies as critical for meeting the
objective of the Paris Agreement to limit global warming to no more
than 1.5 degrees Celsius above pre-industrial levels by 2030.
"We have a steadfast commitment to meeting our ESG goals, and we
are committed to driving GHG reductions that make an impact for our
business and the communities we serve," said Otis Chair, CEO and
President Judy Marks. "We believe we
all have a part to play. Working with SBTi to validate our
near-term, science-based targets is an important step in our
sustainability journey."
In 2021, Otis established 13 ESG goals within the focus areas of
Health & Safety, Environment & Impact, People &
Communities, and Governance & Accountability. To learn more
about the company's commitment to sustainability, read the
latest Otis ESG report.
SBTi is a collaboration between Carbon Disclosure Project (CDP),
the United Nations Global Compact, World Resources Institute (WRI)
and the Worldwide Fund for Nature (WWF) and one of the We Mean
Business Coalition commitments. It 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.
About Otis
Otis is the world's leading elevator and
escalator manufacturing, installation and service company. We move
2 billion people a day and maintain approximately 2.2 million
customer units worldwide, the industry's largest Service portfolio.
Headquartered in Connecticut, USA,
Otis is 69,000 people strong, including 41,000 field professionals,
all committed to meeting the diverse needs of our customers and
passengers in more than 200 countries and territories worldwide.
For more information, visit www.otis.com and follow us on LinkedIn,
Instagram, Facebook and Twitter @OtisElevatorCo.
Media
Contact:
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Katy Padgett
+1-860-324-6121
Kathleen.Padgett@otis.com
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SOURCE Otis Worldwide Corporation