Page number 44
Lars Larsen Group signs up to the Science Based Targets initiative Lars Larsen Group and the subsidiaries JYSK, Actona Group, Bolia, ILVA, SOFACOMPANY, and ScanCom International are officially committing to reducing emissions of greenhouse gases by signing up to the Science Based Targets initiative (SBTi). By signing up to the internationally recognized SBTi, the com- panies commit to reducing greenhouse gas emissions within their own operations and taking responsibility for emissions across the value chains. The official commitment follows the overall strategy of the group as previously articulated by President and CEO of Lars Larsen Group, Jesper Lund. their efforts towards the parts of their value chains where they are able to make the biggest impact in terms of reducing their emissions,” he says. The work continues Upon commitment, the work to calculate the full CO2e baseline in each of the companies is ongoing and once it is finalised, it will indicate where the companies can find the biggest reductions to reach their individual goals. “ Committing to the SBTi is completely in line with our ambition to contribute positively to the societies in which we operate. Jesper Lund “Acting responsibly is one of our fundamental values in Lars Larsen Group and a main priority of our owners,” Jesper Lund states. “Commit ting to the SBTi is completely in line with our ambition to contribute positively to the societies in which we operate,” he adds. “It is a demanding process which calls for a lot of data, analyses, and documentation, which requires a big effort from our companies,” says Jesper Lund. “That being said, it is the most responsible step to take given the situation we are faced with,” he concludes. Individual commitments – together Though the commitment to SBTi is part of a collective effort in Lars Larsen Group, the companies have signed up individually due to their different starting points and options for reducing their emissions. "It makes sense to operate with a common climate goal at group level,” says Jesper Lund and elaborates: “Our companies are each targeting PAGE 48
Page number 45
About the SBTi The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute, and the World Wide Fund for Nature. It was created in connection with the Paris Agreement in 2015 with the aim of driving ambitious climate action in the private sector based on data. Thus, the SBTi supports the Paris Agreement's commitment to limit global warming to 1.5 degrees. To achieve this, greenhouse gas emissions must halve by 2030 and drop to net zero by 2050. LARS LARSEN GROUP | ANNUAL REPORT 2022/23 | RESPONSIBILITY | PAGE 49
