Oshkosh Corporation Sets Ambitious Greenhouse Gas Targets
Oshkosh Corporation Advances Sustainability with Greenhouse Gas Targets
Oshkosh Corporation (NYSE: OSK), renowned for its innovative purpose-built vehicles and equipment, has made a notable leap towards sustainability. The company has received validation from the Science Based Targets initiative (SBTi) for its greenhouse gas (GHG) emissions reduction targets. This recognition underlines Oshkosh's determination to align its operations with the latest in climate science and establish a more sustainable future.
Commitment to Near-Term and Long-Term Emission Reduction Goals
Oshkosh Corporation is setting its sights firmly on GHG emission reductions through specific near-term and long-term goals. The company's near-term targets include a commitment to reduce absolute scope 1 and 2 GHG emissions by an impressive 57.7% by the year 2033, using a 2021 baseline. Furthermore, there is a goal to cut absolute scope 3 GHG emissions—those related to purchased goods and services and the usage of sold products—by 32.5% by 2033 from a 2022 baseline.
Long-Term Sustainability Vision
The firm is not stopping there. Its long-term objectives set forth an ambitious delineation: aiming for a 90% reduction in absolute scope 1 and 2 GHG emissions by 2050, again from a 2021 base year. Additionally, the company aims for a 90% reduction in absolute scope 3 emissions by the same deadline, this time referencing a 2022 baseline.
Kevin Tubbs, the vice president and chief sustainability officer at Oshkosh Corporation, commented, "Oshkosh’s commitment to sustainability is at the core of how we operate and innovate. By aligning our near-term and net-zero targets with the latest climate science, we are taking a significant step toward building a more sustainable future for our employees, customers, and the communities we serve. SBTi’s validation of our reduction targets reflects our determination to reduce environmental impact while consistently delivering groundbreaking solutions."
Strategic Approach to Emissions Reduction
The company's strategy is comprehensive, emphasizing energy reduction initiatives, increasing the reliance on renewable energy sources for operations, and fostering collaborations throughout the value chain to manage scope 3 GHG reduction efforts effectively. This multi-faceted approach is expected to facilitate substantial progress in reducing emissions across all operation areas.
As part of a larger commitment to corporate responsibility, Oshkosh Corporation also actively participates in global climate action through the Science Based Targets initiative (SBTi). This collaborative effort pairs organizations such as CDP, the United Nations Global Compact, the World Resources Institute, and the World Wide Fund for Nature to develop standards and tools that aid companies in setting emissions reduction targets aligned with global climate goals.
Recognition for Sustainable Practices
Oshkosh has consistently showcased its dedication to sustainability through various accolades and recognitions. The company has been featured as one of USA Today's Climate Leaders for the year 2024 and maintained a spot in the Dow Jones Sustainability World Index (DJSI) for five consecutive years. Furthermore, Oshkosh has also garnered recognition as one of America’s Greenest Companies and as one of the World’s Most Trustworthy Companies, as per Newsweek's listings. Additionally, the company has been celebrated by Ethisphere as one of the World’s Most Ethical Companies for nine consecutive years.
Learn More About Oshkosh Corporation
Oshkosh Corporation is deeply committed to crafting a future-focused corporate culture. The company, headquartered in Wisconsin, employs over 18,000 people globally, all driven by the shared mission to make a positive difference in the world through its innovative and mission-critical equipment. With a presence in over 150 countries, Oshkosh proudly operates under various brands including JLG®, Pierce®, MAXIMETAL, and Oshkosh Defense, among others.
For more insights on Oshkosh Corporation and its sustainability initiatives, visit their official website.
Frequently Asked Questions
What is the Science Based Targets initiative (SBTi)?
The SBTi is a collaboration that guides organizations in setting GHG emissions reduction targets in line with climate science to limit global temperature rise.
What are Oshkosh Corporation's science-based targets?
Oshkosh has set targets to reduce absolute scope 1 and 2 GHG emissions by 57.7% by 2033 and by 90% by 2050, along with significant scope 3 reductions.
What recognition has Oshkosh Corporation received?
Oshkosh has been recognized by USA Today as a Climate Leader for 2024 and has been part of the Dow Jones Sustainability World Index for five years.
How does Oshkosh plan to achieve its emission reduction targets?
The company plans to enhance energy efficiency, increase renewable energy use, and foster collaborations across its value chain.
Where can I learn more about Oshkosh Corporation's sustainability efforts?
Visit Oshkosh Corporation's official website to explore more about their commitment to sustainability and corporate governance.
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