GlobalData offers a comprehensive analysis of General Dynamics, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on General Dynamics‘s ESG performance. GlobalData’s company profile on General Dynamics offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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General Dynamics, a global aerospace and defense company, has taken steps to reduce its emissions by incorporating sustainability goals into site and program assessments, and is committed to contributing to global environmental sustainability. In line with its goal of reducing greenhouse gas emissions by 40% by 2034, the company has reduced scope 1 and scope 2 emissions by 10% since 2019. It has achieved a 24% decrease in CO2 emissions since 2008, demonstrating a 42% reduction per dollar of revenue. Scope 1 emissions refer to direct emissions from owned or controlled sources, scope 2 emissions refer to indirect emissions from the generation of purchased electricity, heat, or steam, and scope 3 emissions refer to indirect emissions from the company's value chain.
General Dynamics has already taken steps to reduce its emissions and is expected to continue doing so in the future. The company has made investments in emission reduction initiatives and has plans to collaborate on climate-related projects with specific supply chain members. The company expressed interest in the Sustainable Skies Act and other federal tax credits for SAF to members of Congress in 2021. Sustainable Aviation Fuel (SAF) is a blend of agricultural waste and Jet-A fuel, containing lower sulfur and fewer fine particle pollutants compared to traditional Jet-A, contributing to reduced carbon emissions. If SAF is able to reduce lifecycle greenhouse gas emissions from conventional jet fuel by at least 50%, the legislation will offer a tax credit.
In conclusion, General Dynamics has set specific targets for its GHG emissions and is taking steps to reduce its emissions across scope 1, scope 2, and scope 3. In terms of GHG emissions per dollar of income, the company has achieved a 42% reduction.
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