Illuminating a path to net-zero: setting a new standard for corporate responsibility
A new initiative by leading lighting company sets a new benchmark for reducing carbon emissions in buildings and leverages partnerships to accelerate the transition to sustainable energy
Lighting plays a critical, often overlooked, role in global energy consumption. According to the International Energy Agency, lighting accounts for approximately two per cent of global energy-related emissions. This presents a significant opportunity for organisations to reevaluate their workplace lighting to meet carbon reduction goals.
A significant proportion of the global lighting stock is still conventional, meaning there is potential for rapid progress with the right standards and benchmarks set in place. A global switch to energy-efficient LED lighting would reduce global Greenhouse Gas (GHG) emissions by one per cent – the equivalent of half the total emissions caused by the aviation industry.
Setting new benchmarks
Signify, a world-leading innovative lighting provider, is setting a new benchmark for corporate responsibility. It has recently unveiled its Climate Transition Plan which acts as a blueprint for how global businesses can contribute to the fight against climate change. By committing to a 90 per cent reduction in GHG emissions across its entire value chain by 2040, Signify is setting the standards for lighting innovation and offering a roadmap for other sectors to follow.
Signify’s initiative has already driven substantial progress. Since 2019, the company has achieved a 50 per cent reduction in absolute GHG emissions across its entire value chain. The strategy continues to focus on enhancing the efficiency of its lighting solutions throughout their entire lifecycle. This approach addresses its direct emissions and supports global decarbonisation efforts by reducing the energy demand of its customers.
A collaborative approach to sustainability
Achieving net-zero emissions requires more than just innovative technology – it demands systemic change across industries and sectors. Signify has committed to working closely with customers, partners, and public decision-makers to accelerate the transition to sustainable energy. By incentivising suppliers to adopt renewable energy, Signify is extending its impact beyond its own operations to drive change throughout its supply chain.
Earlier this year, Signify joined forces with the Climate Group to launch the Renovation Revolution, an initiative aimed at increasing renovation rates across the European Union. With current renovation rates falling far short of what is needed to meet the EU’s 2050 net-zero targets, this initiative is critical. By upgrading the energy efficiency of buildings – a major source of GHG emissions – Signify and its partners are addressing one of the most challenging aspects of the global decarbonisation puzzle.
Raising the bar for corporate climate action
Signify’s commitment to net-zero by 2040 is aligned with targets validated by the Science Based Targets initiative (SBTi). This rigorous approach ensures that the company’s goals are not only ambitious but also achievable and grounded in the latest climate science. Paul Dickinson, co-founder of Transition Value Partners, said that Signify’s transition plan ‘raises the bar’ for the entire industry, setting a precedent for what can and should be achieved.
The company’s progress will be monitored and reported annually, ensuring transparency and accountability. This regular reporting will not only track the company’s journey towards its 2040 goal but also provide valuable insights for other businesses looking to make similar commitments.
By leveraging its expertise in energy-efficient lighting, fostering collaboration across industries, and committing to transparent progress tracking, Signify is reducing its own environmental footprint and helping to drive the global transition to a low-carbon economy.
As the world grapples with the urgent need to reduce emissions and mitigate the impacts of climate change, Signify’s plan serves as a guide for how innovation, leadership and responsibility can converge. The future of lighting is bright, and with new benchmarks and innovation setting the pace, it’s also becoming increasingly green.
