Capital markets technology and exchange company Nasdaq announced today a series of climate commitments, including pledges to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 100% and Scope 3 emissions 50% by 2030.
The company also announced a goal to reduce absolute Scope 3 emissions by 95% by 2050. According to Nasdaq’s 2021 Sustainability Report, Scope 3 accounted for over three-quarters of its gross emissions footprint in 2021.
Nasdaq stated that its near- and long-term climate goals have been approved by the Science Based Targets initiative (SBTi) one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of addressing and limiting climate change. Last year, SBTi launched its Net Zero Standard, setting stringent criteria which it uses to assess and certify corporate commitments to achieve net zero emissions. SBTi also tightened its criteria for approved climate targets, announcing that it will only accept targets aligned with its 1.5°C warming ambition, as required to avoid the worst impacts of climate change.
In addition to its emissions reduction goals, Nasdaq also committed to annually source 100% renewable energy through 2030, and to ensure that 70% of its suppliers by spend, covering purchased goods and services and capital goods, will set science-based targets by 2027.
Ann Dennison, Executive Vice President and Chief Financial Officer at Nasdaq, said:
“Nasdaq’s climate strategy seeks to reduce our carbon footprint and corresponding emissions and diversify our energy mix with a focus on prioritizing renewable energy sources. We are encouraged by the early progress we have made toward our corporate sustainability goals and remain committed to increasing transparency with all our stakeholders through our robust ESG reporting as we continue on our journey to reach our 2030 and 2050 net-zero targets.”