UPS

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 (-2,624 /-13.5% y-o-y). The decline accelerated compared to the CAGR of -5% since 4Q'18.

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.