OSHKOSH, Wis.--(BUSINESS WIRE)--Oshkosh Corporation (NYSE: OSK), a leading innovator of purpose-built vehicles and equipment, announced today that the Science Based Targets initiative (SBTi) has validated the company's science-based greenhouse gas (GHG) emissions reduction targets. These targets meet the rigorous criteria and recommendations set by SBTi, confirming Oshkosh's commitment to aligning its sustainability efforts with the latest climate science.
With the SBTi validation, Oshkosh Corporation commits to the following science-based targets:
- Near-term targets: reduce absolute scope 1 and 2 GHG emissions 57.7% by 2033 from a 2021 base year and reduce absolute scope 3 GHG emissions from purchased goods and services and use of sold products 32.5% by 2033 from a 2022 base year.
- Long-term targets: reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2021 base year and reduce absolute scope 3 GHG emissions from purchased goods and services and use of sold products 90% by 2050 from a 2022 base year.
“Oshkosh’s commitment to sustainability is at the core of how we operate and innovate,” said Kevin Tubbs, vice president and chief sustainability officer, Oshkosh Corporation. “By aligning our near-term and net-zero targets with the latest climate science, we are taking a significant step toward building a more sustainable future for our employees, customers and the communities we serve. SBTi’s validation of our reduction targets reflect our determination to reducing environmental impact, while consistently delivering groundbreaking solutions that shape a more sustainable future.”
The company’s strategy emphasizes energy reduction, increased use of renewable energy to power operations, and collaboration across the value chain to drive significant progress toward scope 3 GHG reduction.
The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The Science Based Targets initiative is a corporate climate action organization that develops standards, tools, and guidance which allow companies to set GHG emissions reduction targets in line with what is needed to limit global temperature rise and reach net-zero by 2050.
Click here to watch Oshkosh Corporation's video announcement on the approval of its science-based targets.
Oshkosh is dedicated to building a company, culture and world that can thrive well into the future. The company has earned recognition as one of USA Today’s Climate Leaders 2024 and has been included in the Dow Jones Sustainability World Index (DJSI) for five consecutive years. Additionally, Oshkosh has been named one of America’s Greenest Companies and one of the World’s Most Trustworthy Companies by Newsweek, while also being honored by Ethisphere as one of the World’s Most Ethical Companies for nine consecutive years.
To learn more about Oshkosh Corporation and its commitment to environmental, social and corporate governance please visit Oshkoshcorp.com.
About Oshkosh Corporation
At Oshkosh (NYSE: OSK), we make innovative, mission-critical equipment to help everyday heroes advance communities around the world. Headquartered in Wisconsin, Oshkosh Corporation employs over 18,000 team members worldwide, all united behind a common purpose: to make a difference in people’s lives. Oshkosh products can be found in more than 150 countries under the brands of JLG®, Pierce®, MAXIMETAL, Oshkosh® S-Series™, Oshkosh® Defense, McNeilus®, IMT®, Jerr-Dan®, Frontline™ Communications, Oshkosh® Airport Products, Oshkosh AeroTech™ and Pratt Miller. For more information, visit oshkoshcorp.com.
®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
Forward Looking Statements
This news release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this news release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions, and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include risks related to the Company’s ability to successfully execute on its strategic road map and meet its long-term financial goals. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. The Company assumes no obligation, and disclaims any obligation, to update information contained in this news release. Investors should be aware that the Company may not update such information until the Company’s next quarterly earnings conference call, if at all.
