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Wood Pledges 40 Percent Cut in Carbon Emissions  | Rigzone

Wood Pledges 40 Percent Cut in Carbon Emissions  | Rigzone

Wood has pledged to set a science-based target to reduce its scope 1 and 2 greenhouse gas emissions by 40 percent by 2030.

The company’s target will put it on a trajectory “well beyond” the 2-degree Celsius temperature goal identified by the Paris Agreement, according to Wood, which confirmed that it will formally submit its target to the Science Based Targets Initiative (SBTi).

To achieve its commitment to a low carbon future, Wood said it will focus on global efficiencies including minimum standards to reduce carbon intensity from its sites, equipment and vehicle use, the increased utilization of renewable energy sources and more sustainable procurement policies.

“Today, Wood is signaling a clear commitment to lower our carbon footprint in the next 10 years to support greenhouse gas emissions reduction targets,” Robin Watson, Wood’s chief executive, said in a company statement sent to Rigzone on Friday.

“As a member of the United Nations Global Compact and a long-standing contributor to CDP Climate Change, we believe in the importance of setting science-based carbon reduction targets,” he added.

“As well as setting targets for Wood, we see a key role for our business in the global energy transition journey, applying our technical expertise and trusted experience to support the decarbonization commitments of companies and governments in a range of industries,” Watson went on to say.

Wood describes itself as a global leader in consulting, projects and operations solutions in energy and the built environment. The business operates in more than 60 countries and employs over 55,000 people, according to its website.

The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the Worldwide Fund for Nature. There are currently 885 companies taking SBTi action, including Schlumberger, Fluxys Belgium and CGP Primagaz.

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