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BAT’s ambitious 2030 decarbonisation target approved by SBTi

NEWS RELEASE

28 JULY 2022

BAT’s ambitious 2030 decarbonisation target approved by SBTi

  • As part of its Race to Zero commitment, BAT’s target of a 50% reduction in Scope 1, 2 and 3 CO2e emissions by 2030 vs. a 2020 baseline has been approved by the Science Based Targets initiative (SBTi)
  • BAT is committed to playing its part in tackling climate change, aligned with the latest climate science and the Paris Agreement
  • The SBTi commended BAT’s 1.5°C-aligned target, the most ambitious designation currently available

 

This month, the SBTi approved BAT’s target of a 50% reduction in Scope 1, 2 & 3 CO2e emissions by 2030 versus a 2020 baseline.

SBTi determined that BAT’s 2030 target is in line with a 1.5°C-aligned trajectory and commended BAT for adopting the most ambitious designation available through the SBTi process.

Kingsley Wheaton, BAT’s Chief Marketing Officer said:

“We are delighted that our ambitious 2030 emissions reduction target has been verified by the SBTi, a leading global body working alongside companies around the world to help tackle climate change.

“We are continuing to embed sustainability in every aspect of our business, from energy use to packaging design, and I would like to acknowledge the hard work being done by colleagues across the business to that end. We are proud of our commitments as a purpose-driven company working to build A Better Tomorrow™.”

This SBTi approval is further external validation of BAT’s focus on playing a leading role in tackling climate change. Other examples include BAT’s 20th consecutive year in the Dow Jones Sustainability Indices in 2021, representing the top ESG performers globally, and the Financial Times identifying BAT as a Climate Leader for the second year running in 2022, placing it in the top 3% of companies in Europe for achieving reductions in scope 1 and 2 emissions intensity.

Notes for editors


Science-based targets are emissions reduction targets intended to achieve what the latest climate science says is needed to limit global warming to 1.5°C above pre-industrial levels; BAT’s 2030 targets have been approved by the SBTi as in line with a 1.5°C-aligned trajectory. The SBTi holds the role of verifying these targets from businesses as valid and feasible.

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Media Centre
+44 (0) 20 7845 2888 (24 hours)  | @BATplc 

Investor Relations
Victoria Buxton: +44 (0)20 7845 2012
John Harney: +44 (0)20 7845 1263

 

 

About BAT

 

BAT is a leading, multi-category consumer goods business with a purpose to build A Better Tomorrow™ by reducing the health impact of its business through offering a greater choice of enjoyable and less risky products for adult consumers.

The company continues to be clear that combustible cigarettes pose serious health risks, and the only way to avoid these risks is not to start or to quit. BAT encourages those who would otherwise continue to smoke to switch completely to scientifically-substantiated, reduced-risk alternatives*† . In order to deliver this, BAT is transforming into a truly consumer-centric multi-category consumer products business.

BAT’s ambition is to have 50 million consumers of its non-combustible products by 2030 and to generate £5billion of New Categories revenue by 2025. BAT has set stretching ESG targets including achieving carbon neutrality for Scopes 1 & 2 by 2030 and eliminating unnecessary single-use plastic and making all plastic packaging reusable, recyclable or compostable by 2025.

BAT employs over 52,000 people and operates in over 175 countries. The BAT Group generated revenue of £25.68 billion in 2021 and profit from operations of £10.2 billion.

The company’s Strategic Portfolio is made up of its global cigarette brands and a growing range of reduced-risk*† New Category tobacco and nicotine products and traditional non-combustible tobacco products. These include vapour, tobacco heating products, modern oral products including tobacco-free nicotine pouches, as well as traditional oral products such as snus and moist snuff. In 2021, we had 18.3 million consumers of our non-combustible products, a rise of 4.8 million on the year before. 

About the Science Based Targets initiative

 

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve Net-zero emissions by 2050 at the latest.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. 

Forward-looking statements

 

This release contains certain forward-looking statements, including "forward-looking" statements made within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as "believe," "anticipate," "could," "may," "would," "should," "intend," "plan," "potential," "predict," "will," "expect," "estimate," "project," "positioned," "strategy," "outlook", "target" and similar expressions.

All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors. It is believed that the expectations reflected in this release are reasonable but they may be affected by a wide range of variables that could cause actual results to differ materially from those currently anticipated. A review of the reasons why actual results and developments may differ materially from the expectations disclosed or implied within forward-looking statements can be found by referring to the information contained under the headings “Cautionary Statement” and "Group Principal Risks " in the 2021 Annual Report and Form 20-F of British American Tobacco p.l.c. (BAT).

Additional information concerning these and other factors can be found in BAT's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Annual Report on Form 20-F and Current Reports on Form 6-K, which may be obtained free of charge at the SEC's website, http://www.sec.gov and BAT’s Annual Reports, which may be obtained free of charge from the BAT website www.bat.com.

Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The forward-looking statements reflect knowledge and information available at the date of preparation of this release and BAT undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on such forward-looking statements.