Greystone is proud to announce that, as part of Bemsiq Group, our Net-Zero and Near-Term Emissions Reduction Targets have been officially validated by the Science Based Targets initiative (SBTi).

This important milestone underscores our strong commitment to climate action and aligns our sustainability goals with the latest climate science aimed at limiting global warning to 1.5°C. By focusing on reducing our carbon footprint and validating our targets, we are taking meaningful steps toward a low-carbon future.

A heartfelt thank you to Bemsiq for your dedication and collaboration with SBTi in achieving this validation.

Greystone’s Roadmap to SBTi Validation

What is SBTi? 

The Science Based Targets initiative (SBTi) is a global organization  that drives corporate climate action. SBTis works with companies and financial institutions to validate their greenhouse gas (GHG) emissions reduction targets, ensuring they are aligned with current climate science and the goal of limiting climate change to 1.5°C.

Greenhouse Gas Emissions and Climate Change

Greenhouse gas emissions refer to gases in Earth’s atmosphere that trap heat and contribute to the warming of the planet – a phenomenon known as the greenhouse effect. Human activities, particularly the burning of fossil fuels and deforestation, have significantly increased the concentration of these gases, intensifying the greenhouse effect and driving climate change. The consequences include rising global temperatures, more frequent extreme weather events, melting ice caps, and rising sea levels.

In response, a major global effort – most notably through the Paris Agreement – aims to reduce emissions and limit global warming to 1.5°C to avoid the most severe impacts of climate change. 

To examine emissions produced from the various activities of companies, carbon accounting practices have divided emissions into scopes 1, 2 and 3. Scope 1 emissions are the direct emissions from operations that a company owns or controls. Scope 2 emissions are indirect emissions associated with generation of energy a company purchases. Scope 3 emissions are the emissions generated throughout a company’s supply chain and are broken down into fifteen separate categories.

Our Commitment

Greystone, as part of Bemsiq Group, commits to reach net-zero greenhouse gas emissions across the value chain by 2050.

Our Targets

In the Near Term, Greystone commits to:

– Reducing absolute Scope 1 and 2 GHG emissions 58.8% by 2034 (from 2023 baseline)

– Reducing Scope 3 GHG emissions 63.8% per unit sold by 2034 (from 2023 baseline)

Longer Term, Greystone commits to:

– Reducing absolute Scope 1 and 2 GHG emissions 90% by 2050 (from 2023 baseline)

– Reducing Scope 3 GHG emissions 97% per unit sold by 2050 (from 2023 baseline)

Greystone’s efforts in emission reduction

Reducing emissions and improving energy efficiency are central to Greystone’s Environmental Management System. Our environmental objectives, outlined below, demonstrate our commitment to lowering energy consumption and achieving our verified SBTi goals.

We’ve already made meaningful progress in reducing our Scope 1 emissions. In May, Greystone moved into a new facility that no longer relies on propane heating and features solar energy collection to help offset energy use. Additional energy-efficient upgrades – such as heat pumps and enhanced insulation – further reduce our on-site energy demands and emissions.

Looking ahead, our next steps include refining our data collection processes and developing a detailed action plan to drive further emissions reductions with special emphasis on those within Scope 3.

Greystone’s Environmental Objectives