Science-based carbon footprint targets – Part 1
Today, we commit to setting science-based emission reduction targets. What are science-based targets, and what are the next steps now? Keep reading!
The science-based target initiative (SBTi) is a partnership between CDP, UN Global Compact, World Resources Institute, and World Wide Fund for Nature. They define and promote best practices in emission reductions and net-zero targets in line with climate science. SBTi looks at carbon emissions reduction targets that companies set and verifies if these targets align with the Paris Agreement’s aim to limit global warming to 1.5°C.
There are currently about 1800 companies that have set science-based targets that SBTi has approved and 2000 more that have committed to set targets.
What are we committing to?
We are committing to set science-based targets. For a target to be science-based, we need to:
- Set a target for scope 1 and 2 emissions, where we reduce our emissions by at least 4.2% per year.
- Set a target for scope 3 emissions, where we reduce our emissions by at least 2.5% per year, or define a supplier engagement target where we agree with our suppliers that they will commit to setting science-based targets for scope 1 and 2.
Scope 1 emissions
Scope 1 emissions are all greenhouse gas emissions from burning fossil fuels in a facility or vehicle. For Fagron, this means primarily emissions from natural gas use for heating in our facilities and petrol and diesel used in our (lease) cars.
Scope 2 emissions
Scope 2 emissions are all greenhouse gas emissions from the energy that we purchase. For Fagron, these are emissions from the “chimney” at the electricity company where we buy our electricity.
Scope 3 emissions
Scope 3 emissions are all other greenhouse gas emissions in the value chain of our business. Emissions range from business travel, waste management, products that we purchase, and distribution.
How is this different from your current carbon footprint targets?
In 2019 we formulated goals to reduce the greenhouse gas intensity of our activities by 30% by the end of 2025 compared to 2019. Adding science-based targets means we commit to reducing our carbon footprint intensity and our absolute carbon footprint.
What are the next steps?
After committing to set science-based targets, we must submit our proposed targets within 24 months. We want to do this much sooner and submit our proposed targets to SBTi before the end of 2022. They will then verify whether or not our proposed targets can be called “science-based”.
Afterward, the actual work starts, and we will try our best to reach the targets and reduce our carbon footprint.
Follow our ESG journey
We try to ensure our goals are met and want to be transparent about our results and activities. We are always interested in hearing about ESG initiatives at other companies and organizations. If you have any questions or suggestions on what we could do to improve, you can reach us at ESG@fagron.com.