22 April 2025

Oxford Instruments plc net zero targets approved by SBTi

Oxford Instruments today confirms that its science-based near- and long-term emissions reduction targets have been validated and published by the Science Based Targets initiative (SBTi)

The validation of Oxford Instruments’ Scope 1, 2 and 3 targets by SBTi marks a further milestone in the company’s net zero journey, following the publication of its Transition Plan Taskforce-aligned Net Zero Transition Plan in November 2024. SBTi, the leading corporate climate action organisation, has made a powerful call for companies and financial institutions worldwide to play their part in combatting the climate crisis. Oxford Instruments now joins some 7,500 leading companies globally who have engaged with SBTi to validate and make public their commitment.

Oxford Instruments has committed to reach net zero* across all its operations, including its supply chain, by 2045.

The company’s SBTi-validated science-based targets are set out below, with more information on its emissions profile and action plans contained in the Transition Plan.

Near-term science-based targets

• Oxford Instruments plc commits to reduce absolute scope 1 and 2 GHG emissions by 90% by FY2029/30 from a FY2023/24 base year.
• Oxford Instruments plc commits to reduce absolute scope 3 GHG emissions by 25% by FY2029/30 from a FY2023/24 base year.

Long-term science-based targets

• Oxford Instruments plc commits to maintain at least a 90% reduction in absolute scope 1 and 2 GHG emissions from 2029/30 to 2045, from a FY2023/24 base year.
• Oxford Instruments plc commits to reduce absolute scope 3 GHG emissions 90% by 2045 from a FY2023/24 base year.

Overall net zero target

Oxford Instruments plc commits to reach net-zero greenhouse gas emissions across the value chain by FY2044/45.

Richard Tyson, CEO, said:

“I’m delighted that SBTi has validated and published our science-based emissions reduction targets, through which we have committed to reach net zero across our whole value chain by 2045. Our targets are stretching, putting our goal five years ahead of the UK government’s own commitment – but given Oxford Instruments’ purpose, to accelerate the breakthroughs that create a brighter future for our world, and the contribution made by our leading technology to developing sustainable solutions to global challenges, I have every confidence in the commitment and talent of the Oxford Instruments team to deliver them.”

* Net zero is defined by SBTi as at least a 90% reduction in absolute emissions; direct emissions reductions (decarbonisation) will be prioritised, and all residual emissions will be neutralised (if applicable) in line with SBTi criteria before reaching net-zero emissions.