Virgin’s net-zero targets approved by Science Based Target Initiative
Virgin is delighted to confirm that our net-zero target has been approved by the Science Based Target initiative (SBTi). Reporting under Virgin Holdings Limited, this is a key milestone as part of the Group’s long-term ambition in Changing Business for Good.
This validation confirms that Virgin’s climate targets are aligned with what the science demands: rapid, deep cuts to emissions that help limit global temperature rise.
Here’s what Virgin has committed to:
Reaching net-zero GHG emissions across its value chain by 2050.
Reducing absolute scope 1 and 2 GHG emissions 50% by 2030 (from a 2023 base year).
Reducing absolute scope 1, 2 and 3 GHG emissions by 90% by 2050 (from a 2023 base year).
Ensuring 68% of its Virgin companies; by emissions, will have science-based targets by 2029.
Why this matters:
The science couldn’t be clearer – the world is dangerously close to breaching the 1.5°C temperature rise threshold. The UN has called it a “code red for humanity”, and it demands urgent, decisive action from all of us. That’s why Virgin’s targets are built around absolute immediate emission cuts. Halving global emissions by 2030 and hitting net-zero by 2050 isn’t just an ambition, it’s a deadline backed by science.
What’s next: one milestone, many more to come.
Everyone at Virgin is proud of this step, but we're not done yet; our journey continues. As we lean into our Purpose, we must accelerate progress across innovation and through collaboration - working with Virgin companies, teams and partners to achieve these collective goals. Click here to see more.
Virgin’s official SBTi targets are:
Overall Net-Zero Target: Virgin Holdings Limited commits to reach net-zero greenhouse gas emissions across the value chain by 2050.
Near-Term Targets: Virgin Holdings Limited commits to reduce absolute scope 1 and 2 GHG emissions 50% by 2030 from a 2023 base year.* Virgin Holdings Limited also commits that 68% of its licensees by emissions covering franchises, will have science-based targets by 2029.
*The target boundary includes land-related emissions and removals from bioenergy feedstocks.
Long-Term Targets: Virgin Holdings Limited commits to reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2023 base year.** Virgin Holdings Limited also commits to reduce absolute scope 3 GHG emissions 90% within the same timeframe.
**The target boundary includes land-related emissions and removals from bioenergy feedstocks.