Skip to main content
  • English
    Discover SWIFT
  • Español
    Descubra nuestros contenidos en español
  • Français
    Découvrez notre contenu disponible en français
  • 中文
  • 日本語
Swift takes action with ambitious science-based carbon reduction targets

Swift takes action with ambitious science-based carbon reduction targets

Company Information,
21 April 2023 | 4 min read

Our carbon-reduction targets have been validated by the Science-Based Targets initiative (SBTi) and we’re excited to now share our roadmap for achieving them.

We’re committed to doing our part in protecting the planet and have made great strides in reducing our carbon footprint with a 70% reduction globally between 2007 and 2015. And, although we achieved carbon neutrality with carbon offsetting in 2020, we knew we had to do more.

In November 2021, we committed to joining the Science Based Target initiative (SBTi) and submitted our targets to them in the summer of 2022. We’re now excited to share that our carbon-reduction targets have been successfully validated by the SBTi. 

The next step is to put our global strategy into action. This is how we aim to reach our targets.

We only have one Earth. And we all have a role in protecting it. Our ambitious science-based targets help guide our strategy to being a low-carbon company and make sure everything we do is for a greener planet and brighter future for all.
Sandrine Van Caster Global Head of Climate Action and SBTi, Swift

Achieving our science-based emissions targets

While we’ve already started reducing our reliance on fossil fuels by, for instance, selecting green electricity providers across 65% of our offices, we aim to make 100% of our electricity use green by 2030.

We’re also transitioning our leased car fleet to electric vehicles, with 26% of our fleet already transitioned. Our goal is to reach 37% of our fleet by end of 2023 with the aim of 100% being electric before 2030. In addition, we’ve also installed solar panels and continue to improve our buildings’ energy efficiency. And we’re committed to using the most energy-efficient IT equipment available, but that’s just the start.

We’re continuously looking for new ways to reduce our energy use. Like ensuring our colleagues feel encouraged to make more sustainable choices when commuting to work and when selecting options for essential business travel.  

At our Belgian headquarters, we’ve implemented a ‘bike to work’ allowance, bike lease plans, and installed showers to encourage more and more people to cycle to the office. Our target is to reduce absolute scope 3 greenhouse gas (GHG) emissions from business travel and commuting by 27.5% by 2030.

A snapshot of our validated SBTi emissions targets:

  • To reduce absolute scope 1 & 2 GHG emissions by 53.7% before 2030.
  • To reduce absolute scope 3 GHG emissions from business travel and employee commuting by 27.5% before 2030.
  • We also aim to ensure that 67% of our suppliers (by monetary spend) commit to creating Science Based Targets by 2027, so we’re better able to identify emissions linked to goods and services that we’ve purchased.

We’re proud to be a part of this global movement and our roadmap to reaching our targets involves all parts of our organisation.

We’ve put in place many eco-friendly measures in Swift offices and data centres around the world. This, along with making more sustainable decisions right across the organisation, has allowed us to drastically reduce our emissions since 2008.
Anand Jayaraman Global Head Technology Platform Strategy and Architecture & Cloud Adoption, and ESG Steerco Lead, Swift

What are ‘science-based’ targets?

Targets are considered ‘science-based’ if they are in line with the latest climate science deemed necessary to meet the goals of the Paris Agreement – pursuing efforts to limit global warming to 1.5º C above pre-industrial levels.

The SBTi is a collaboration between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).

It focuses on enabling businesses around the world to set ambitious emission reduction targets to halve their emissions before 2030 and achieve net zero emissions before 2050.

Why should we commit to setting 2030 reduction targets?

We’re committed to taking decisive and ambitious action to ensure a positive climate future and believe the private sector has a crucial role to play.

Nearly 2,400 companies, including Swift, have already had their 2030 science-based targets validated, and over 2,000 more have committed to setting targets in the future. Through initiatives like SBTi and others, we believe that credible corporate action towards net zero is not only vital but also possible and attainable.