We recently committed to the goals of the Paris Agreement on Climate Change and joined the Science Based Targets initiative (SBTi). We are committed to reducing our CO2 emissions along the entire value chain with science-based net-zero targets. What this means is, that we are taking responsibility for emissions that go beyond our own production.
"Joining the Science Based Targets initiative is a big step. We are taking responsibility for emissions that go beyond our own production: Reducing upstream and downstream emissions is now also part of our sustainability goals and will not only accompany us over the next few years but guide us. Transformation and innovation will be essential building blocks on the way to net-zero”, says Alfred Felder, CEO.
Since 2021, we have halved our CO2 emissions with the goal of achieving climate neutrality in the Scopes 1 & 2. By joining the Science Based Targets initiative, a roadmap is being developed that additionally includes the reduction of upstream and downstream Scope 3 emissions. These account for the majority of emissions along the value chain. The upstream and downstream Scope 3 emissions include, for example, emissions in connection with purchased materials or the energy consumption that occurs during the use of the products. A reduction plan is currently being developed, which will then be submitted to the Science Based Targets initiative for validation.
The Science Based Targets initiative has developed the first global standard that provides science-based targets to help companies make the Net-Zero Standard tangible. Step by step, companies can use these targets to decarbonise their core business and take responsibility for a fair share of emission reductions. SBTi assesses and approves companies' targets according to its own independent and strict criteria. More than 4,000 companies worldwide are already working with the initiative to limit global warming to below 1.5°C.