Intuit Commits to Reach Net-Zero Greenhouse Gas Emissions Across Its Value Chain by FY2040

June 22, 2023 at 09:00 AM EDT

Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax, Credit Karma, QuickBooks, and Mailchimp, today announced its commitment to reach net-zero greenhouse gas (GHG) emissions across its value chain by FY2040. This target has been validated by the Science Based Targets initiative (SBTi), a global body that enables businesses to set ambitious emissions reduction targets in line with the latest climate science. The commitment is in line with the Paris Climate Accords, an international treaty on climate change to limit global warming to 1.5 degrees Celsius and to achieve net-zero global emissions before 2050.

Reaching net-zero GHG emissions is a core part of Intuit’s corporate responsibility strategy, as demonstrated by our multi-decade commitment to reducing GHG emissions in our operations and value chain. Climate science supports rapid and deep global emissions reductions, and by setting science-based targets, we’re doing our part to move toward a net-zero future.

Intuit has also set science-based near-term and long-term emissions reduction targets, which have been validated by the SBTi. For more information on our near-term and long-term targets, please visit our website at https://www.intuit.com/company/corporate-responsibility/climate/.

In line with SBTi criteria, Intuit is committed to achieving these targets by prioritizing emissions reduction across all of our business activities. This includes ongoing investments in renewable energy for our facilities and working with our suppliers to reduce their emissions. Any residual emissions are expected to be neutralized before we are able to reach net-zero emissions.

“By committing to reach net-zero GHG emissions by FY2040, we expect to significantly reduce our global emissions footprint ten years ahead of when climate scientists predict we must reach net-zero in order to prevent the worst impacts of climate change and to support the goal of the Paris Climate Accords,” said Debbie Lizt, Head of Global Sustainability at Intuit. “We have been setting ambitious climate action goals beyond net-zero for years and our net-zero target is just one of the testaments to our commitment to having a positive impact on climate change. We’re thrilled that the Science Based Targets initiative has validated our net-zero targets, and look forward to providing updates on our progress.”

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reduction targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions by 2030 and achieve net-zero emissions by 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.

About Intuit

Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With more than 100 million customers worldwide using TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible. Please visit us at Intuit.com and find us on social for the latest information about Intuit and our products and services.

This press release contains forward-looking statements, including our expectations regarding Intuit’s emissions reduction commitments, targets and initiatives, emissions of suppliers, and reporting of progress on these targets and initiatives. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from these expectations. These factors are described in our periodic and other reports filed with the SEC. Forward-looking statements represent the judgment of Intuit’s management as of the date of this press release. Except as required by law, we do not undertake any duty to update any forward-looking statement or other information in this press release.