Science Based Targets initiative Approves Otis Targets for Reducing Greenhouse Gas Emissions
Otis' SBTi-approved targets are:
- Reduce absolute scope 1 and 2 GHG emissions 55% by 2033 from a 2021 base year.1
- Reduce absolute scope 3 GHG emissions from purchased goods and services, business travel, and use of sold products 33% within the same timeframe.
These targets demonstrate the company's commitment to meeting the objective of the Paris Agreement to limit global warming to no more than 1.5 degrees Celsius above pre-industrial levels.
"We are responsible for delivering sustainable value for all stakeholders. At Otis, ESG is firmly embedded in our business strategy and culture. We see it as a critical investment in our future, driving innovation and making our business stronger and more resilient," said
To learn more about the company's commitment to sustainability, visit ESG at Otis.
SBTi is a partnership between
About Otis
Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.3 billion people a day and maintain approximately 2.3 million customer units worldwide – the industry's largest Service portfolio. You'll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in
Forward-Looking Statements
This press release contains forward-looking statements (including statements that constitute forward-looking statements under the securities laws), including, but not limited to, statements that relate to our intent to achieve certain environmental, social and governance ("ESG") commitments, plans, targets, goals and future risks associated with climate change and their impact on our future business. These forward-looking statements are intended to provide management's current expectations or plans for our future performance, based on assumptions currently believed to be valid. The forward-looking statements are subject to future events, risks, uncertainties and other factors, many of which are beyond the control of the company, that could cause actual results to differ materially from our historical results or current expectations, including, but not limited to the availability and cost of low- or non-carbon-based energy sources and technologies; third-party coordination and alignment over which we do not have control and may be unpredictable; evolving regulatory requirements affecting ESG standards or disclosures; the availability of suppliers that can meet our sustainability, diversity and other standards; severe weather events, including from the effects of climate change; changes in the economic and political conditions in the industry and markets in which we operate; and other risks and uncertainties described in detail in the company's most recent Form 10-K, Form 10-Q and in similar sections of other filings made by the company with the
1 The target boundary includes biogenic land-related emissions and removals from bioenergy feedstocks.
Media Contact:
+1 860-674-3047
Kathleen.Padgett@otis.com
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