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.
Evonik has reached a settlement with the US EPA for exceeding permitted emission limits of ethylene oxide and ethylene glycol at its speciality surfactants facility in Reserve, Louisiana. Both are regulated as hazardous air pollutants (HAPs) under the Clean Air Act.
This followed an inspection on 18 April 2033 and an information request on 27 September, which concluded that emissions had exceeded the permitted levels. Evonik shut down the operations from 18 November until 3 February 2023, when it installed a temporary flare that can remove 98% or more of HAP emissions.
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.
ICL has concluded a five-year €250 million ‘sustainability-linked loan’ from syndicate of five global lenders at 0.8%/year interest. It is the first company in Israel to do so. This is part of its sustainability efforts and includes three performance targets.
ICL will seek to achieve a 4-5% reduction in direct and indirect Scope 1 and Scope 2 CO2 emissions resulting from global operations. Third party monitoring will begin in the 2021 fiscal year, in accordance with the accounting and reporting standards published by the GHG Protocol.
The American Chemistry Council (ACC) has issued a set of policy recommendations, which, it says could “enable dramatic reductions in greenhouse gas emissions” and help the administration to achieve its climate goals. Specifically, it called on Congress to enact legislation to
1. Increase government investment and scientific resources to develop and deploy low emission technologies in the manufacturing sector
2. Adopt transparent, predictable, technology- and revenue-neutral, market-based, economy-wide carbon price signals; and
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