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Vakrangee is joining the global movement of leading companies
aligning their business with the most ambitious aim of the Paris Agreement, to limit global
temperature rise to 1.5°C above preindustrial levels and reach net-zero by no later than 2050
for the best chance of avoiding the worst impacts of climate change.
The key deliverables and Summary of SBTI criteria are as follows:
Level of ambition (Scope 1 and 2): At a minimum – consistent with the level of decarbonisation required to keep temperature increase to well-below 2°C while we encourage efforts towards 1.5°C.
Boundary: All company-wide Scope 1 and 2 GHG emissions (≥ 95%);
Timeframe: 5-15 years into the future;
Scope 3: A Scope 3 screening is required. An ambitious Scope 3 target is required when Scope 3 emissions cover > 40% of total emissions.
Reporting: Disclose GHG emissions inventory on an annual basis. Advocate for net-zero
emissions
Commenting on the same, Mr. Dinesh Nandwana, MD & Group CEO said, “Vakrangee has
committed to set science-based emissions reduction targets — scopes 1 and 2 that are
consistent with keeping global warming to 1.5°C above pre-industrial levels. Vakrangee has also
committed to a long-term target to reach net-zero emissions by 2035.
We have mapped our Business strategy with the sustainability initiatives along with the United
Nation's Sustainable Development Goals. We believe that businesses can have a positive impact
on the societies they serve. We commit to policy advocacy consistent with a 1.5°C future and
also urge for supportive government policy and goals that will deliver a net-zero emissions
economy”
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