Multi-Wing net zero strategy validated by Science-Based Targets Initiative

04/07/2024

THE SBTi is a collaboration between the CDP, the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). Since its inception in 2015, over 1,000 companies have joined the initiative to set science-based climate targets. The validation of Multi-Wing’s targets confirms that the Danish-headquartered airflow experts align with the Paris Agreement’s goals to limit global warming to 1.5°C above pre-industrial levels.

Key Validated Targets:

Net-zero by 2050:
Multi-Wing commits to achieving net-zero greenhouse gas (GHG) emissions across its value chain by 2050.

Near-term Targets:
By 2030, Multi-Wing aims to reduce absolute Scope 1 and 2 GHG emissions by 90% from a 2022 base year. Additionally, Scope 3 GHG emissions will be reduced by 51.6% per million EUR value added within the same timeframe.

Long-term Targets:
From 2030 through 2050, Multi-Wing commits to maintaining a minimum of 90% absolute Scope 1 and 2 GHG emissions reductions. The company also pledges to reduce absolute Scope 3 emissions by 90% by 2050.

Renewable Energy:
Multi-Wing plans to increase its annual sourcing of renewable electricity from 39.95% in 2022 to 100% by 2030.

Figure 1: Improving the efficiency of products and sustainable sourcing of components will play important roles in achieving Multi-Wing’s long-term CO2 reduction targets.

“Achieving SBTi validation is a testament to our dedication to environmental sustainability,” said Casper Pedersen, Head of ESG & Governmental Affairs at Multi-Wing Group. “We are confident in our ability to meet these ambitious targets through strategic investments, such as switching to heat pumps and increasing the efficiency of our products. Our commitment to renewable energy and our efforts to reduce GHG emissions will also play a crucial role in our journey towards a sustainable future.”

Multi-Wing’s climate objectives have been meticulously developed and validated using the latest methods and tools approved by the SBTi. This validation process ensures that Multi-Wing’s targets are scientifically robust and aligned with global climate goals.

The company’s efforts include enhancing product efficiency and sourcing low-carbon materials like recycled aluminum. Multi-Wing is also exploring renewable energy solutions for all its sites and leveraging renewable energy certificates where direct implementation of renewable energy is not feasible.

“SBTi’s validation of our CO2 reduction objectives confirms that we are on the right track,” added Pedersen. “This validation not only demonstrates our commitment to fighting climate change but also shows our dedication to customers and the environment.”

Believed to be one of the first companies in the impeller business to have its CO2 and climate objectives approved by the SBTi, Multi-Wing became a listed member on the SBTi website on July 4, 2024. The company is committed to publicly reporting its progress annually, ensuring transparency and accountability in its sustainability journey.

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