Akind Venture AB joins the Science Based Target initiative (SBTi)
Establishing science-based targets and committing to ambitious climate action are fundamental building blocks of our sustainability strategy.
Described by the UN as 'code red for humanity', the latest science shows that limiting global temperature rise to 1.5°C is still possible, but we are dangerously close to that threshold.
Achieving extensive and effective emission reductions is not only critical to the climate – it is also essential to our business. Joining the SBTi aligns with our long-term and group-wide sustainability strategy, reinforcing our commitment to taking ambitious and actionable measures.
Read more about our targets below.
Committing to the Science Based Targets initiative is not a symbolic act. It has real-world implications. The SBTi commitment is based on transparency and accountability, and companies simply cannot afford to dishonor their commitment. We are determined to deliver on this promise.
Our science-based targets
We want to be successful in business, and at the same time have a positive impact on people, society, and the planet.
In November 2023 Akind Venture AB committed to set both near-term targets and a long-term target according to the Science Based Targets initiative (SBTi) Net-Zero Standard, and to have these targets validated and approved by the SBTi.
As of November 2024, the SBTi has approved Akind’s near-term science-based emissions reduction target, as well as science-based net-zero target.
Akind’s near-term targets
- Akind Venture AB commits to reducing absolute scope 1 and 2 GHG emissions by 58.8% by 2034, using 2022 as the base year.
- Akind Venture AB commits to reducing absolute scope 3 GHG emissions from purchased goods and services, capital goods, and business travel by 58.8% by 2034, using 2022 as the base year.
Akind’s net-zero target
- Akind Venture AB commits to reducing absolute scope 1, 2 and 3 GHG emissions by 90% by 2045, using 2022 as the base year.
Direct emissions reductions (decarbonization) will be prioritized, with all residual emissions neutralized in accordance with SBTi criteria before achieving net-zero emissions. Akind also encourages stakeholders to align with climate science by committing to science-based 1.5°C and net-zero targets.
About the Science Based Targets initiative (SBTi)
The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. They develop standards, tools, and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. The SBTi is incorporated as a charity, with a subsidiary which will host our target validation services. Our partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).