Hong Kong, February 10, 2021 – Lenovo (HKSE: 992) (ADR> LNVGY) has been recognized by CDP (formerly known as Carbon Disclosure Project) as a Supplier Engagement Leader, acknowledging its efforts to measure and limit greenhouse gas emissions throughout its supply chain. Lenovo’s recognition as a Supplier Engagement Leader puts it in the top 7% of companies who disclosed their information in the full CDP climate questionnaire.
“Companies’ emissions don’t end at the factory door. In fact, CDP data shows a company’s supply chain emissions are over 11.4 times greater than its direct emissions on average. Meaningful corporate climate action means engaging with suppliers to reduce emissions across the value chain. Despite the challenges from COVID-19, in 2020 nearly 400 companies achieved a place on CDP’s Supplier Engagement Leaderboard. Congratulations to these companies – as a Supplier Engagement Leaders, they are driving the transition towards the net-zero sustainable economy”. – Sonya Bhonsle, Global Head of Value Chains, CDP
The recognition was awarded for Lenovo’s 2020 performance in key areas like governance, targets for emissions reduction, and accounting of Scope 3 emissions (as measured by supplier evaluations). Scope 3 greenhouse gas emissions relate to emissions created through out a company’s value chain, and as referenced by CDP’s Sonya Bhonsle, are greater than scope 1 and 2 direct greenhouse gas emissions and more difficult to measure.
In 2020, Lenovo announced its next generation of emission reduction targets. The new targets represent ambitious goals to reduce scope 1, 2, and 3 greenhouse gas emissions by 2030. The goals are aligned to and approved by the Science Based Targets initiative, ensuring that they are contributing to a wider body of collaborative efforts to understand and limit climate change.
While CDP’s recognition awards companies on the “Leader Board” for supplier engagement, it also creates transparent expectations for all industries on how to better measure, manage and reduce greenhouse gas emissions in their value chains. Measuring scope 3 emissions requires additional diligence and understanding when selecting suppliers, and these efforts are standardized and measured through the Supplier Engagement Rating. You can learn more about CDP’s Supplier Engagement Rating (SER) by reviewing CDP’s supply chain report Transparency to Transformation: A Chain Reaction and learning about methodology at SER methodology 2020.
Learn more about Lenovo’s sustainability efforts in its Environmental, Social and Governance Report.
Lenovo (HKSE: 992) (ADR: LNVGY) is a US$50 billion Fortune Global 500 company, with 63,000 employees and operating in 180 markets around the world. Focused on a bold vision to deliver smarter technology for all, we are developing world-changing technologies that create a more inclusive, trustworthy, and sustainable digital society. By designing, engineering, and building the world’s most complete portfolio of smart devices and infrastructure, we are also leading an Intelligent Transformation – to create better experiences and opportunities for millions of customers around the world. To find out more visit https://www.lenovo.com, follow us on LinkedIn, Facebook, Twitter, YouTube, Instagram, Weibo and read about the latest news via our StoryHub.