At its latest Capital Markets Day on 27 September 2023, Arkema revealed its plans to strengthen its decarbonisation initiatives as well as its financial targets. This followed the recent validation of Arkema’s emissions reduction plan by the Science-Based Targets Initiatives.
The independent Science-Based Targets Initiative (SBTi) has confirmed that Evonik’s greenhouse gas emission reduction targets are in line with the Paris Agreement on Climate Change. This seeks to limit global warming to well below 2°C.
The Science Based Target initiative (SBTi), a collaboration between the United Nations Global Compact, World Resources Institute, the Climate Disclosure Project and the World Wide Fund for Nature (WWF) to drive corporate climate action, has validated the latest greenhouse gas reduction (GHG) targets of three chemical companies as both science-based and aligned with the UN Paris Agreement to limit the global temperature rise to no more than 1.5ºC this century.
Clariant has committed to new 2030 targets to reduce CO2 emissions in line with the Science Based Targets initiative (SBTi), which has validated them. This follows the establishment last year a dedicated unit to accelerate its sustainability transformation. The targets are:
* 40% absolute reductions in Scope 1 (made directly during production) and 2 (emitted indirectly, mainly through consuming steam and electricity) greenhouse gas emissions (GHG) emissions on 2019 levels
* A 14% absolute reductions in Scope 3 (other indirect) GHG emissions on 2019 levels
DSM, Bayer, Symrise, Henkel and Takasago International are among 155 companies signing a joint release by the Science Based Targets initiative (SBTi), the UN Global Compact, and the We Mean Business coalition. This urged governments “to align their Covid-19 economic aid and recovery efforts with the latest climate science” and “prioritise a faster and fairer transition from a grey to a green economy”, with net zero carbon emissions.