The number of companies that have had their carbon dioxide (CO2) emission reduction targets approved by the Science Based Targets initiative (SBTi) has broken through the 100-mark.

A total of 103 businesses have now had their plans verified by the organisation.

Electrolux and L’Oréal are among the latest firms to sign-up to the scheme, while Mahindra Sanyo Special Steel has become the first Indian company to take part.

Managing Director Uday Gupta said: “While we are responsible for playing our part in preventing dangerous climate change we also future-proof our growth and profitability by taking climate action in collaboration with our partners in the value chain.”

Strong signal

L’Oréal wants to cut its emissions by 25% by 2030 compared with a 2016 baseline.

Lila Karbassi, head of the United Nations’ Global Compact programmes, said: “Companies that commit to setting science-based targets are showing their commitment to creating a well below 2C world.

“Their action sends a strong signal to governments around the world that they can be confident in raising their own ambition.”

> Find out more about the SBTi