HomeCarbon CreditsLenovo Unveils 2050 Net Zero Goal, Enters Carbon Credits Deal

Lenovo Unveils 2050 Net Zero Goal, Enters Carbon Credits Deal

Lenovo has revealed its goal to reach net zero greenhouse gas (GHG) emissions by 2050, which the Science Based Targets initiative (SBTi) approves, and entered a carbon credits deal with K+N. 

With this commitment, Lenovo becomes the first PC and smartphone maker with an SBTi-approved net zero target. The tech firm is also one of only 139 companies in the world that has a climate goal validated by the Net Zero Standard

Lenovo’s emissions reduction measurements will contribute to a wider body of data to better understand and tackle climate change.

The SBTi Net Zero Standard

Lenovo Chairman Yuanqing Yang remarked:

“In the fight against climate change, we believe collaboration and accountability are the two critical elements needed for collective success. We remain dedicated to following climate science, standardizing our measurements, and seeking ongoing validation for our targets and progress.” 

Aligning net zero goals to the SBTi helps Lenovo to take a scientific, collaborative, and accountable means to cut emissions. Without doing so will make it hard to know when a net zero target is met. 

SBTi is the first international body to standardize net zero and what it means as it relates to limiting global warming to 1.5°C. This net zero standard is also dynamic and responsive to firms’ collective efforts to decarbonize. 

More importantly, SBTi holds companies accountable for their emissions reduction targets. 

More than 4,000 companies worldwide are in the process of aligning their emissions reduction goals to SBTi’s methodology and validation processes. 

CEO of the SBTi Luiz Amaral noted that the world needs rapid and deep emissions cuts to meet global net zero targets to avoid the most damaging effects of climate change. He further said:

“Lenovo’s net zero targets match the urgency of the climate crisis and set a clear example that their peers must follow.” 

How Lenovo Will Hit Its 2050 Net Zero Goal

Lenovo commits to reaching net zero emissions across its value chain by 2050. Its long-term target is to cut absolute GHG emissions across all three scopes – 1, 2, and 3 – by 90% by 2050 from a 2019 base year

Hitting such an ambitious decarbonization goal requires the tech company to achieve the following reduction goals.

SBTi-Validated Near-Term Targets

  • Reduce scope 1 and scope 2 GHG emissions by 50% by 2030, compared to 2019 levels
  • Reduce emissions from the use of sold products by 35% on average for comparable products by 2030
  • Cut scope 3 emissions from purchased goods and services by 66.5% per million US$ gross profit by 2030
  • Cut scope 3 emissions from upstream transportation and distribution by 25% per tonne-km of transported product by 2030

The key strategies that Lenovo will adopt to reduce its GHG emissions are:

  1. Slashing the environmental impact of its products
  2. Applying innovation to increase the sustainability of its manufacturing
  3. Reducing emissions across its operations and value chain

These plans are outlined in Lenovo’s Journey to Net-Zero video series. It shows how the company’s experts are modifying business processes to hit net zero targets. 

In addition to those emission reduction strategies, Lenovo is also working with other firms to further cut its carbon footprint. Its recent carbon credits collaboration with Kuehne+Nagel (K+N) perfectly shows this. 

Lenovo and K+N Carbon Credits Deal

Lenovo works with Kuehne+Nagel to develop a green logistics service that allows its customers to buy carbon credits that fund the use of Sustainable Aviation Fuel (SAF).

  • SAF is a fuel from sustainable inputs that reduces carbon emissions.

Via a purchase add-on service, customers can buy credits to cut the footprint of shipping the IT equipment and devices they purchase. They can then use those credits to fund the use of SAF that K+N provides.

There’s a specific amount of liters of SAF assigned to a purchased device. That figure equals the amount of reduction that the customer can claim under Scope 3.1. – emissions for purchased goods and services. 

If this service is chosen, Kuehne+Nagel will issue the carbon credit or certificate to Lenovo and its customers. This certificate indicates the amount of SAF liters per purchased device for any logistics company.

Through K+N’s SAF concept, Lenovo finds a way to address carbon emissions across supply chains, which is in line with its SBTi targets. This further allows Lenovo customers to avoid emissions in product shipment regardless of the lane or airline. 

This forged carbon credit deal with K+N enables Lenovo to pursue its net zero commitment – by “delivering sustainable products and solutions”, the head of global logistics at Lenovo, Gareth Davies said.

Lenovo is an early adopter of the science-based emissions reduction approach. It has received SBTi approval for its near-term 2030 goals in 2020. This has allowed the firm to road-test the first-of-its-kind Net Zero Standard. 

Most Popular

Humanity is on Thin Ice Says UN Climate Report

The UN Intergovernmental Panel on Climate Change (IPCC) released its 6th Assessment Report with a key message that the planet is running out of...

Will Big Oil Be Forced to Pay for Climate Damages

The U.S. Department of Justice sided with Colorado's local governments, which is the most recent case of a growing wave of governments pushing for...

The EU Net-Zero Industry Act Explained

The European Commission (EC) proposed the Net-Zero Industry Act to ramp up manufacturing of clean technologies in the EU and make the bloc prepared...

Carbon Credits from Efficient Railways

EKI Energy Services Ltd. (EKI) has made a deal to provide consultancy service contracts for the carbon credits project of Kochi Metro Rail Limited...

What are Renewable Energy Credits vs. Carbon Credits

Also known as green tag, the use of renewable energy credits (RECs) have been on the rise as entities are looking for ways to...

Wood Vault: a Carbon Storage System to lock CO2 away

Removing carbon dioxide through dead trees and storing it for thousands of years underground is a mission that seems to attract nobody. But a...

How Do Carbon Offsetting Projects Work?

All companies will have to take responsibility for their carbon footprint and carbon offsetting projects are becoming their strong ally.  A business may have already...

Inside Carbon Markets: Problems, Causes, and Potential Solutions

The recent scandals in the carbon markets show that just like other markets with contested reputations, rules are needed that go beyond certification. There should...