April, 23 2021, 12:00am EDT
Twitter Commits to Set Science-Based Climate Target
WASHINGTON
Twitter announced Thursday in a tweet, a pledge to join the Science Based Targets Initiative and adopt a clearly defined pathway for reducing its greenhouse gas emissions in line with the Paris Agreement's net-zero goal. With this commitment, Twitter follows other large tech companies including Facebook, Microsoft, and Salesforce.
While previously setting a goal of reaching carbon neutrality for its data centers by 2022, the company had not committed to reducing the full scope of its greenhouse gas emissions. By adopting Science Based Targets, Twitter will have a maximum of two years to set targets for its Scope 1, 2, and 3 greenhouse gas emissions, without relying on carbon offsets.
"By joining its peers in committing to set a Science Based Target, Twitter has taken a crucial and necessary step in the global transition to a net-zero economy," said Lila Holzman, senior energy program manager at As You Sow. "We hope to see Twitter prioritize climate by swiftly embarking on an ambitious target setting process."
Investors are increasingly seeking ambitious climate action from companies to avoid the worst impacts of climate change. As You Sow filed a shareholder resolution with Twitter on behalf of Amalgamated Bank this year asking it to disclose plans to align its climate impacts and strategies with the Climate Action 100+ (CA100+) Net-Zero Benchmark. The CA100+ initiative, which includes nearly 600 investors representing more than $54 trillion in assets, released the Net-Zero Benchmark last year setting clear metrics to demonstrate company alignment with net-zero goals, including target-setting, a decarbonization plan, and aligned corporate governance and executive compensation, among other key elements.
"Twitter is joining the conversation on climate with a strong commitment to science," said Ivan Frishberg, director of impact policy at Amalgamated Bank. "This week's net-zero commitments from the finance sector and President Biden's emission reduction announcement for the U.S. show that Twitter is not alone, and that we are now seeing the potential of every part of the economy rallying together to drastically reduce emissions."
For more information on As You Sow's work on climate change, click here.
As You Sow is the nation's non-profit leader in shareholder advocacy. Founded in 1992, we harness shareholder power to create lasting change that benefits people, planet, and profit. Our mission is to promote environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies.
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