Volex

Volex, a UK-based company operating in the furniture and other manufactured goods sector, has set ambitious climate commitments and is reporting its carbon emissions.

Emissions Data:

For the financial year 2025, Volex reported total global emissions of approximately 463,801,000 kg CO2e. This figure breaks down into:

• Scope 1: Approximately 2,012,000 kg CO2e.
• Scope 2 (Market-based): Approximately 21,473,000 kg CO2e.
• Scope 3: Approximately 440,316,000 kg CO2e, with purchased goods and services being the largest contributor.

In the financial year 2024, total global emissions were approximately 23,606,000 kg CO2e (Scope 1 + Scope 2 market-based). Scope 1 emissions were around 1,776,000 kg CO2e, and Scope 2 (market-based) was approximately 21,340,000 kg CO2e. Scope 3 emissions for FY2024 were reported as approximately 2,183,000 kg CO2e.

Climate Commitments and Reduction Targets:

Volex is committed to significant emissions reductions across its value chain:

• Net Zero by 2050: Volex has joined the Business Ambition for 1.5°C campaign and aims to achieve net-zero Scope 1, 2, and 3 emissions by 2050.
• Scope 1 & 2 Net Zero by 2035: The company has a target to reduce its Scope 1 and 2 emissions to net zero by 2035.
• Scope 3 Reductions: Volex has committed to reducing its Scope 3 GHG emissions by 64% per million USD value added by FY2035 from a FY2025 base year, specifically for purchased goods and services (Category 1) and use of sold products (Category 11). They also aim for a 90% reduction in absolute Scope 3 GHG emissions by FY2050 from a FY2025 base year.
• Science-Based Targets initiative (SBTi): Volex has set SBTi-aligned targets, including a commitment to reduce absolute Scope 1 and 2 GHG emissions by 90% by FY2035 from a FY2025 base year. They also commit to reducing absolute Scope 3 GHG emissions by 90% by FY2035 and by FY2050. Furthermore, they aim to reach net-zero greenhouse gas emissions across their value chain by FY2049.

Volex's approach to achieving these targets involves decarbonising its energy supply and reducing emissions across its entire value chain.