Synopsys believes now is the time to step up and address one of the largest global challenges today – climate change. Last year, Synopsys stepped up and delivered on its commitment to neutralize greenhouse gas emissions across global operations to net zero. This year, we have gone even further.
Synopsys has an ambitious target to reduce Scope 1 and 2 emissions by 25 percent by 2024, as compared with our calendar year 2018 baseline. We have also achieved CarbonNeutral® certification across our global operations for the second consecutive year.
Our target, in line with the goal to keep global temperature rise within 1.5 degrees Celsius above pre-industrial levels, is based on the Paris Agreement under the United Nations Framework Convention on Climate Change. The pathway to achieve the emissions reduction goal is straight-forward: we measure and report on our direct emissions across global operations, we identify areas of opportunity for reduced energy consumption and procurement of clean energy where possible for our offices and data centers, and we formulate and execute on a plan for average annual emission reductions.
While scope 1 and 2 emissions are the areas providing the most direct opportunity to reduce our environmental impact, we recognize that our overall footprint includes our indirect (scope 3) emissions. In the near-term, we intend to expand our accounting of scope 3 emissions and to evaluate related emission reduction opportunities.
As we take action to reduce our emissions even as we grow as a company, it is imperative that we simultaneously account for our carbon footprint. In continuation of the carbon neutrality initiative launched in 2019, we are proud to announce we have once again been certified as a CarbonNeutral® company across our global operations for 2020, offsetting approximately 90,000 MT CO2e.
Synopsys undertook the carbon neutral initiative in accordance with the CarbonNeutral Protocol, a detailed framework for the design and implementation of a carbon neutral program for business. Our customized portfolio of high-quality, verifiable RECs align geographically with its largest operations. The company has financed offset projects that are verified to an internationally recognized carbon accounting standard.
Emission reductions and neutralizing our residual footprint are an important part of our Corporate Social Responsibility (CSR) efforts to ensure a sustainable future. We will continue to expand our leadership in combatting climate change and enabling the transition to a low-carbon economy.
