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IGT Receives Validation of Net-Zero Emissions Reduction Targets from Science Based Targets initiative
Company earns validation for near- and long-term science-based targets to reduce greenhouse gas emissions
LONDON, Aug. 3, 2023 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT) announced today that its near- and long-term science-based targets have been validated by the Science Based Targets initiative ("SBTi"). Additionally, the SBTi validated the Company's commitment to reaching net-zero greenhouse gas ("GHG") emissions across the value chain by 2050.
"Receiving this validation from the SBTi represents a milestone achievement for IGT as it reassures our stakeholders that we are committed to reaching net-zero GHG emissions," said Wendy Montgomery, IGT SVP, Marketing, Communications and Sustainability."IGT's science-based targets provide us with a clearly defined approach to reducing our GHG emissions and mitigating the impact of climate change, all while ensuring sustainable growth for our business."
As its near-term targets, IGT commits to reduce absolute Scope 1 and Scope 2 GHG emissions by 50 percent by 2030, from 2019. The Company also commits to reduce absolute Scope 3 GHG emissions by 30 percent within the same timeframe.
Regarding its long-term science-based targets, IGT commits to reduce absolute Scope 1 and Scope 2 GHG emissions by 90 percent by 2050, from 2019. The Company also commits to reduce absolute Scope 3 GHG emissions by 90 percent within the same timeframe. IGT would then offset the residual 10% of emissions by 2050. Direct emissions reductions will be prioritized, and all residual emissions will be neutralized in line with SBTi criteria before reaching net-zero emissions.
The SBTi is a collaboration between CDP, the United Nations Global Compact ("UNGC"), World Resources Institute, World Wide Fund for Nature, 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 assesses and approves companies' targets. IGT has been a member of the UNGC since 2017 and has strengthened its relationship with the UN by adopting nine of the 17 UN Sustainable Development Goals and aligning them with its sustainability strategy.
IGT (NYSE:IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions around the world and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 10,500 employees. For more information, please visit www.igt.com.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the "Company") and other matters. These statements may discuss goals, intentions, and expectations as to plans, initiatives, trends, events, results of operations, and/or measures, or otherwise, based on current beliefs of the management of IGT as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "would," "should," "shall," "continue," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside IGT's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results, performance, or achievements may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results, performance, or achievements to materially differ from those in the forward-looking statements include (but are not limited to) the factors and risks described in IGT's annual report on Form 20-F for the financial year ended December 31, 2022 and other documents filed or furnished from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of www.IGT.com. Except as required under applicable law, IGT does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect IGT's business. Nothing in this news release is intended, or is to be construed, as a forecast or to be interpreted to mean that the results, performance, or achievements of IGT for the current or any future years will necessarily match or exceed the historical results, performance, or achievements of IGT, as applicable. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to IGT, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
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SOURCE International Game Technology PLC