SCIENCE BASED TARGETS INITIATIVE (SBTI) VERIFIES CANYON'S NET-ZERO SCIENCE-BASED 2050 TARGET

Canyon reaffirms long-term, holistic commitment to greenhouse gas emission reduction by incorporating sustainability into its future business strategy

The SBTi is a collaboration between the CDP (formerly known as the Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Its intensive scrutiny confirms that Canyon's reduction targets are in line with findings of climate science and are suitable for limiting global warming to the 1.5 degrees required by the Paris Agreement, which is a legally binding international treaty on climate change.

With its commitment to SBTi, Canyon is joining a global initiative whose members are pioneering the decarbonization of the global economy. At the same time, Canyon is also reaffirming its consistent and business-wide commitment to sustainability, which makes up a central pillar of the company's corporate strategy.

Yvonne Swoboda, Global Director of ESG at Canyon: "The cycling industry is full of enthusiasm and passion. We want to use this positive energy to actively drive change in our company and beyond towards more responsible business practices."

SBTi has verified Canyon's net-zero science-based target by 2050 with the aim of reducing the release of climate-damaging greenhouse gas (GHG) emissions within the company (Scope 1), by its energy suppliers (Scope 2) and in its upstream and downstream supply chain (Scope 3).

Over the next ten years Canyon has committed to reducing absolute scope 1 and 2 GHG emissions by 51% by 2032 from its base year in 2022*. Canyon has also committed to reducing its indirect scope 3 GHG emissions per bike produced by 58.2% within the same timeframe. In the long term, Canyon has committed to reducing absolute scope 1 and 2 GHG emissions by 90% by 2050 and scope 3 GHG emissions per bicycle produced by 97% within the same timeframe.

Transparent reporting on sustainability

"We want to be transparent and act responsibly. We believe that measurability and transparent information about the progress we are making in achieving our targets is essential to be successful in a business-wide approach to sustainability," says Yvonne Swoboda. "That's why we decided to disclose our climate action journey via the CDP for 2022."

With the SBTi and CDP, Canyon is continuing on its path of being regularly audited externally and providing

transparent and well-founded information on targets, progress and measures in climate protection. Canyon’s reduction progress is documented yearly and published on the CDP website.

“The bicycles we make support low carbon mobility, however the production of those products triggers greenhouse gas emissions. There is a lot for us to do to reduce our impacts but we are using our drive for innovation to succeed in our climate action journey,”said Yvonne Swoboda.  

For more on Canyon’s sustainability reporting, visit brand.canyon.com/sustainability.

NOTES TO EDITORS

1. Measurement

*Regarding the base year in 2022, the target boundary includes biogenic land-related emissions and removals from bioenergy feedstocks.

2. About the Science Based Targets initiative  

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.  

The initiative is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently validates and approves companies’ targets.