Nexans greenhouse gas reduction targets receive validation from the SBTi

• Nexans’ ambitious 2030 climate targets have been validated by the Science Based Targets initiative (SBTi).
• SBTi’s validation of Nexans’ climate strategy illustrates Nexans’ commitment to decarbonization.

Paris, May 2, 2022 – Nexans, a key player in electrification and energy transition, announces today that its greenhouse gas (GHG) emissions targets have been validated by the Science Based Targets initiative (SBTi).

The Science Based Targets initiative (SBTi) mobilizes companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy. It is a partnership between Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).

Nexans’ sustainability roadmap, analysed by SBTi’s Target Validation Team, includes a commitment :

• to reduce absolute Scope 1 and 2 GHG emissions by 46.2% by 2030 versus 2019 base year.
  Scope 1 and 2 cover the GHG emissions coming from industrial operations of the Nexans Group;
• to reduce absolute Scope 3 GHG emissions by 24% by 2030 versus 2019 base year.
  Scope 3 covers the GHG emissions coming from use of sold products, purchase of goods and services, metal extraction, transportation, and operations before and after the transformation of raw materials to finished products done by the Nexans Group.

Nexans targets for scope 1 and 2 are in line with the 1.5° C trajectory, determined by the Paris Agreements (COP21). As stated by SBTi, the Group’s 1.5°C-aligned target currently are the most ambitious designation available through the SBTi process.

Nexans will embed sustainability across all its divisions, from innovations and solutions development, product manufacturing, and managing daily operations, to the purchase of raw materials, the use of its sold products, as well as working habits and employees commuting.