Keysight Technologies Net Zero Emissions in Company Operations
Keysight will achieve net zero emissions in company operations (Scope 1 and Scope 2) by end fiscal year 2040, a decade ahead of the Paris Agreement’s timeline and in alignment with the preferred goal to limit global warming to 1.5°C. We will accomplish this through energy efficiency and conservation in our operations, investment in renewable energy, and selective purchase of certified offsets to neutralize any residual emissions.
Why is Keysight Pursuing the Paris Agreement’s Preferred Goal Limit
Keysight’s net zero emissions goal demonstrates our commitment to limiting global warming to 1.5 degrees Celsius per the Paris Agreement framework. This pursuit is based on the following two key reasons:
- It is in line with company’s values
- Keysight will help mitigate the worst environmental, societal, and economic impacts of climate change.
- Keysight is an industry leader, and we continuously deliver value to our stakeholders.
- A net zero emissions in company operations goal provides certainty about the company’s strategic direction in environmentally sustainable operations.
- 1.5°C is now expected/requested by several customers and investors
Interim Science-Based Targets to Track Progress
Reaching net zero emissions means that all greenhouse gas (GHG) emissions generated by a company are reduced to near zero, and any residual emissions are neutralized by removing an equivalent amount from the atmosphere. The best way to accomplish this goal is through energy efficiency and conservation and transitioning to renewable energy sources.
Emissions are categorized into three scopes, which are represented in Keysight by the following:
- Scope 1: direct emissions from Keysight activities, including fleet vehicles and building operations
- Scope 2: indirect emissions from the production and distribution of electricity or industrial heat used by Keysight, such as power and heating provided by utilities to the company
- Scope 3: indirect emissions from upstream and downstream activities in which Keysight engages, whereby emissions are not directly under the company’s control.
To ensure progress and accountability towards our net zero goal, Keysight has committed to the following interim measures across Scope 1 and Scope 2:
- By the end of fiscal year 2030 – the company commits to 55% renewable energy and 10% energy reduction through efficiency and conservation (based on fiscal year 2019 baseline)
- By the end of fiscal year 2040 – the company commits to 100% renewable energy, and 20% energy reduction through efficiency and conservation (based on fiscal year 2019 baseline.
Best practice prescribes the use of science-based targets (SBTs) to measure progress in GHG emissions reduction and ensure targets are consistent with the latest climate change scenarios.
As a result, Keysight will commit to the Science Based Targets (SBTs) initiative to develop approved SBTs. In addition to the Scope 1 and Scope 2 emissions defined by our net zero goal, Keysight will work with the SBT initiative to develop approved Scope 3 targets across relevant categories. Setting SBTs allows Keysight to provide a common platform for reporting, meeting customer expectations, bolstering business continuity and resilience, and helping customers meet their own sustainability goals.
Key Components of Net Zero Emissions Goal
Keysight’s strategy to accomplish this goal focuses on reducing Scope 1 and Scope 2 emissions to net zero through efforts in
- Energy reduction through efficiency and conservation measures in our operations such as leveraging best practices across sites, improving preventative maintenance schedules, emissions reduction in fleet and implementation of energy efficiency projects.
- Investment in renewable energy, which will consider a mix of on-site renewable energy installations, procurement of green energy from utility providers and power purchase agreements in solar and wind energy.
- Selective purchase of certified offsets to neutralize any residual emissions that may remain unabated. Vetted credits will be used to offset these remaining sources of emissions.
Implementation of the key components of our net zero emissions goal will support our transition to a low carbon economy and help to mitigate against regulatory transitions, physical risks and carbon-intensive energy price surges. We aim to provide long-term value by further integrating sustainability into the way we do business.
About Keysight Technologies
Keysight delivers advanced design and validation solutions that help accelerate innovation to connect and secure the world. Keysight’s dedication to speed and precision extends to software-driven insights and analytics that bring tomorrow’s technology products to market faster across the development lifecycle, in design simulation, prototype validation, automated software testing, manufacturing analysis, and network performance optimization and visibility in enterprise, service provider and cloud environments. Our customers span the worldwide communications and industrial ecosystems, aerospace and defense, automotive, energy, semiconductor and general electronics markets. Keysight generated revenues of $4.2B in fiscal year 2020. For more information about Keysight Technologies (NYSE: KEYS), visit us at www.keysight.com.
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Geri Lynne LaCombe, Americas
+1 303 662–4748
Fusako Dohi, Asia
+81 42 660–2162