Primary Climate Goal
UPS's target annual all Scopes emissions for 2050 should be equal to 0 Kt = 0% * 33,339 Kt, according to the company's stated climate goal.
In order to achieve this goal, UPS would need to reduce its emissions at least by -1,191 Kt per annum over the period from 2023 to 2050:
-1,191 Kt = ( 0 Kt - 33,339 Kt ) / (2050 - 2022)
This translates into a -3.6% reduction in 2023.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
UPS aims to achieve carbon neutrality for all Scopes by 2050
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
UPS reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2022 at 16,477 Kt (+155/+0.9% y-o-y). At the sime time, carbon intensity declined to 164 t (-3.6 /-2.1% y-o-y).
UPS's Scope 3 emissions plummeted to 16,862 Kt (
The company is committed to achieving carbon neutrality for all Scopes by 2050, which translates into the estimated reduction of -1,191 Kt per annum over the period of FY2023 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
UPS aims to achive carbon neutrality across its entire value chain (all Scopes) in 2050. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.