Parker Hannifin

Parker Hannifin, a leader in motion and control technologies within the fabricated metal products industry, has established ambitious targets for reducing its environmental impact. For the fiscal year 2024, the company reported a substantial 3.74 trillion kg CO2e in Scope 3 emissions, alongside 128.86 billion kg CO2e for Scope 1 and 395.10 billion kg CO2e for Scope 2 emissions (market-based). The combined total emissions for FY24 were approximately 4.27 trillion kg CO2e.

In fiscal year 2023, Parker Hannifin's Scope 1 emissions were approximately 127 million kg CO2e, and Scope 2 emissions (market-based) stood at roughly 528 million kg CO2e, resulting in a combined Scope 1 and 2 total of approximately 617 million kg CO2e.

Parker Hannifin is committed to significant emissions reductions. They aim for a 50% reduction in Scope 1 and Scope 2 carbon emissions by 2030, compared to a FY19 baseline. Furthermore, the company has a long-term goal of achieving carbon neutrality by 2040. These targets are supported by initiatives such as energy efficiency assessments, lean Kaizen events, and the implementation of on-site renewable power systems.

The Science Based Targets initiative (SBTi) has validated Parker Hannifin's commitment to a 1.5-degree pathway, with a target to reduce absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 46.2% by FY2030, from a FY2019 base year. Additionally, the company is working to ensure that 76% of its suppliers, by emissions, covering purchased goods and services, will have science-based targets by FY2030.

For upstream emissions, Parker Hannifin has set a near-term target to reduce Scope 3 emissions in categories 1, 2, and 4 by 15% by 2030 (from a 2019 baseline). They also have a long-term goal for these categories, aiming for a 25% reduction by 2040.