Financial technology platform provider Intuit announced today a series of new climate-focused goals, including a new target to achieve net zero emissions across its value chain by 2040.

Debbie Lizt, Head of Global Sustainability at Intuit, said:

“By committing to reach net-zero GHG emissions by FY2040, we expect to significantly reduce our global emissions footprint ten years ahead of when climate scientists predict we must reach net-zero in order to prevent the worst impacts of climate change and to support the goal of the Paris Climate Accords.”

In addition to the 2040 net zero goal, Intuit announced a series of interim targets, including reductions of Scope 1 and 2 emissions by 42% by 2030, and a commitment to have 80% of suppliers, measured by emissions covering purchased goods and services, have science-based targets by 2027.

The company said that it will prioritize direct emissions reductions across the value chain, with 2040 commitments to reduce Scope 1 and 2 emissions by 90%, and Scope 3 intensity by 97%.

Lara Balazs, Chief Marketing Officer and General Manager, Strategic Partner Group at Intuit, said:

“Intuit has been focused on decreasing its carbon footprint for over a decade by investing in energy efficiency upgrades and procuring renewable energy for our facilities. We will continue to drive meaningful emissions reductions as we embark on our net-zero journey.”

The company also said that its new climate goals have been validated by the Science Based Targets initiative (SBTi). SBTi’s its Net Zero Standard, sets stringent criteria which it uses to assess and certify corporate commitments to achieve net zero emissions. The organization’s criteria for approved climate targets only accepts targets aligned with a 1.5°C warming ambition, as required to avoid the worst impacts of climate change.  

Lizt  said:

“We have been setting ambitious climate action goals beyond net-zero for years and our net-zero target is just one of the testaments to our commitment to having a positive impact on climate change. We’re thrilled that the Science Based Targets initiative has validated our net-zero targets, and look forward to providing updates on our progress.”