Universal Music Group’s greenhouse gas (GHG) emission reduction targets have been approved by the Science Based Targets initiative (SBTi), described as the ‘gold standard’ for establishing corporate climate goals.
Boyd Muir, UMG’s executive vice president, chief financial officer and president of operations, said: “I am incredibly proud of the organisation-wide efforts that have brought us to this milestone. By aligning our operations with science-based targets, we deepen our commitment to embed sustainability principles into our business practices and to innovate for a resilient future in which both global communities and music lovers thrive.”
The Science Based Targets initiative (SBTi) has validated that the greenhouse gas emissions reductions targets submitted by UMG conform with the SBTi criteria and recommendations.
“Today’s milestone announcement reflects UMG’s dedication to addressing its environmental impacts and amplifies its determination to continue delivering pacesetting change on one of the most important public health issues of this era,” said a statement from the major.
UMG is also a founding member of the Music Climate Pact, the global platform of music companies engaged in collective action combating the climate crisis.
Universal Music Group has committed to achieving GHG emissions targets across all scopes and has outlined a plan to:
• Reduce absolute scope 1 and 2 GHG emissions 58% by 2032 from a 2019 base year
• Reduce scope 3 GHG emissions from purchased goods & services, capital goods, fuel- and energy-related activities, upstream transportation and distribution, waste generated in operations, business travel, and employee commuting by 62% per euro value added within the same timeframe.