MAGNET SIGNS UP TO SCIENCE-BASED CLIMATE TARGET
Magnet, as part of the Nobia Group, is the first European kitchen specialist to sign up to the Science Based Targets initiative (SBTi). This is a global initiative aimed at driving ambitious actions to help reduce climate change and achieve the goals of the Paris Agreement – the commitment to limiting global temperature rise to well below 2°C.
As part of the Nobia group, Magnet has committed to two pledges that both aim to combat climate change. The first is to reduce CO2 emissions from manufacturing and transport by 72% by 2026. The second sees the business promising to collaborate with suppliers to reduce their carbon footprint from both production and usage and to ensure that at least 70% of the company’s suppliers (based on CO2 emissions) shall have science-based targets by 2025.[i]
Nobia already has a sustainability strategy in place, and the SBTi pledge will further amplify this. 13 out of 14 Nobia production facilities have certified environmental management, whilst 100% of the electricity Nobia uses in production and in stores is renewable. As it stands, 63% of all wood waste goes to manufacturing new products, too.
Tackling climate change requires urgent action from the corporate sector in order to build a more sustainable economy. By signing up to the SBTi, Magnet are positioning themselves as corporate leaders when it comes to the transition to low-carbon business.
Beth Boulton at Magnet comments: “We are pleased to have our group-wide (Nobia AB) emission reduction targets approved by the Science Based Targets initiative. The targets are consistent with the levels needed to achieve the goals of the Paris Agreement. We are taking action based on scientific data and believe this is the most business-wise thing to do.
“We’re aiming to ‘future-proof’ our business, both within the Magnet brand and throughout the wider Nobia Group, by reducing our CO2 emissions and carbon footprint to prove our commitment to building a sustainable economy.
“This is alongside the existing sustainability initiatives in place. Magnet is already doing what it can to manufacture kitchens in a smarter way, through renewable energy and carefully considered sourcing of all raw materials. Through great kitchen design our customers can lead a more sustainable life too, be that a hot water tap to reduce energy consumption when boiling a kettle every time you want a cup of tea or through specialist bins that make recycling even easier – there are lots of ways great kitchen design can enable more sustainable living.”
The Science Based Targets initiative (SBTi) drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets. Science-based targets show companies how much and how quickly businesses need to reduce their GHG emissions to prevent the worst impacts of climate change.
The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the Worldwide Fund for Nature (WWF).
Both Magnet and Nobia encourage more businesses to commit to their own science-based targets so that together, the business sector can make a difference when it comes to climate change and the future of the planet.