Euroclear obtains SBTi validation for its climate targets

Brussels, 16 November 2023 – Euroclear is pleased to announce that its new carbon emissions reduction targets have received approval from the Science Based Targets initiative (SBTi). This reaffirms Euroclear’s commitment to achieving science-based net-zero by 2050, aligned with a 1.5-degree scenario.

Euroclear has combined its climate change mitigation programme with directly funding social and environmental projects worldwide. This is in line with Euroclear’s mission to support a sustainable financial marketplace as a central pillar in the business strategy.

Paul Symons, Euroclear’s Chief Sustainability Officer said: “We are pleased to have reached this significant milestone of our net-zero goals being approved by the SBTi.  As a major financial market infrastructure our net-zero commitments are a key element of our ambition to facilitate and accelerate a sustainable financial system. To reach net-zero status before 2050, we will  continue to reduce emissions materially across all of our business and that of our suppliers. We will report on our progress through our annual Sustainability Report.”  

As to date only fewer than 450 companies globally have received a similar SBTi validation. Euroclear’s approach to carbon reduction encompasses infrastructure and property optimisation, energy consumption and business travel, and the reduction of its suppliers’ carbon footprint.

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 before 2050.

Euroclear commits:

• to reach net-zero greenhouse gas (GHG) emissions across the value chain by 2050 from a 2019 base year

Euroclear commits:

• to reduce absolute scope 1 and 2 GHG emissions 55% by 2030 from a 2019 base year
• that 70% of its suppliers by emissions covering purchased goods and services and capital goods will have science-based targets by 2027
• to reduce absolute scope 3 GHG emissions from fuel and energy related activities, upstream transportation and distribution, waste generated in operations, business travel and employee commuting 28% by 2030 from a 2019 base year

Euroclear commits:

• to reduce absolute scope 1 and 2 GHG emissions by 90% by 2050 from a 2019 base year. Euroclear also commits to reduce absolute scope 3 GHG emissions 90% within the same timeframe

Euroclear group is the financial industry’s trusted provider of post trade services. Guided by its purpose, Euroclear innovates to bring safety, efficiency and connections to financial markets for sustainable economic growth. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives, and investment funds. As a proven, resilient capital market infrastructure, Euroclear is committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise. The Euroclear group comprises Euroclear Bank, the International CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden, Euroclear UK & International and the fund platform MFEX.