Tennant Company Commits to Setting Science-Based GHG Reduction Target by 2017 & Signs the Climate Declaration Urging the Publ...
November 19 2015 - 9:00AM
Business Wire
Tennant Company (NYSE:TNC), a world leader in designing,
manufacturing, and marketing of solutions that help create a
cleaner, safer, healthier world, announces its commitment to set a
greenhouse gas (GHG) emissions reduction target in line with
climate science as part of a global initiative led by CDP (formerly
the Carbon Disclosure Project), the UN Global Compact (UNGC), the
World Resources Institute (WRI) and World Wildlife Fund (WWF).
Tennant Company joins many of the world’s largest companies in
this effort to set science-based targets to reduce GHG emissions in
order to limit the increase in global average temperature to below
2° C, a level agreed on by the world’s leading climate scientists
and governments. The hope is that corporations like Tennant will
help to drive bolder corporate action and the innovation needed to
transition to a new low-carbon, sustainable economy and help to
protect our planet, according to CDP.
In addition, Tennant Company has joined more than 700 of
America’s largest companies in signing The Climate Declaration, a
call to action urging the public, policymakers and business leaders
to seize the economic opportunity in tackling climate change.
Launched in April of 2013, The Climate Declaration asserts that
tackling climate change is America’s greatest economic opportunity
of the 21st century.
By making a commitment to science-based GHG reductions, Tennant
Company agrees it will set a science-based target by September of
2017 and that the target commitment will cover a span of at least
five years. The target must cover companywide Scope 1 (emissions
directly created by a company’s facilities or use of vehicles, for
example), Scope 2 (emissions created from purchased utilities such
as electricity, steam, heating and cooling) and all GHGs. Companies
whose Scope 3 emissions are a significant portion of their overall
emissions must also set an ambitious Scope 3 target, according to
the initiative requirements. Scope 3 emissions are from third
parties, along the upstream and downstream value chain of an
organization. For example, Scope 3 could cover transportation
providers in the upstream or use of sold products in the
downstream. Scope 3 emissions are estimated as 95% of Tennant’s
total value chain emissions. Therefore, an ambitious Scope 3 target
will be included as part of the commitment.
According to Tennant Company President and CEO Chris
Killingstad, “Tennant Company has long held a commitment to
sustainability. By using agreed-upon methodologies to establish
targets that can protect our climate, we will bolster our efforts
to reduce GHG emissions and help advance the transition to a
low-carbon economy. By signing The Climate Declaration, we proudly
declare our commitment to join other leaders in taking important
and meaningful steps to tackle climate change.”
In the next 12 months, Tennant Company will determine the
specific methodology it will use to establish its GHG reduction
target by September 2017.
Company
ProfileMinneapolis-based Tennant Company (NYSE: TNC) is
a world leader in designing, manufacturing and marketing solutions
that empower customers to achieve quality cleaning performance,
significantly reduce their environmental impact and help create a
cleaner, safer, healthier world. Its products include equipment for
maintaining surfaces in industrial, commercial and outdoor
environments; chemical-free and other sustainable cleaning
technologies; and coatings for protecting, repairing and upgrading
surfaces. Tennant's global field service network is the most
extensive in the industry. Tennant has manufacturing operations in
Minneapolis, Minn.; Holland, Mich.; Louisville, Ky.; Uden, The
Netherlands; the United Kingdom; São Paulo, Brazil; and Shanghai,
China; and sells products directly in 15 countries and through
distributors in more than 80 countries. For more information, visit
www.tennantco.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151119005088/en/
Tennant CompanyInvestor Contact:Tom Paulson,
763-540-1204Senior Vice President and Chief Financial
OfficerorMedia Contact:Kathryn Lovik, 763-540-1212Global
Communications Director
Tennant (NYSE:TNC)
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