Specialty materials producer Arkema announced today an update to its emissions reduction goals, raising its 2030 targets for both direct and indirect value chain emissions, following progress the company has made on its climate efforts since setting its initial targets last year.
Arkema’s new climate goals include targets to reduce Scope 1 and 2 emissions by 48.5%, and Scope 3 emissions by 54% by 2030, on a 2019 basis. The prior goal, set in July 2022, was to reduce emissions across all Scopes by 46%.
Scope 3 emissions, those outside a company’s direct control, including emissions originating in supply chains and through product use, account for the significant majority of Arkema’s greenhouse gas (GHG) footprint. By 2030, Arkema said that it now aims to reduce Scope 3 emissions to 70 million tonnes of CO2 equivalent from 152 million in 2019, through initiatives including increasing the share of its renewable or recycled raw materials, selecting raw materials with lower carbon footprints, reducing its most emissive activities, and developing polymer recycling channels. Arkema said that it also aims to develop products and solution offerings that contribute to GHG emissions reductions.
The company also aims to cut its Scope 1 and 2 emissions to 1.9 million tonnes from 3.7 million, through plans including achieving a much greater share of low-carbon steam and electricity consumed at its facilities, such as a recently signed biomethane supply contract with ENGIE, and by improving energy efficiency and optimizing facilities.
Arkema also announced that its 2030 climate goals have been approved by the Science Based Targets initiative (SBTi) for the company’s 1.5°C trajectory.
Thierry Le Hénaff, Chairman and CEO of Arkema, said:
“Arkema has made long-standing commitments in the fight against climate change. From its energy procurement policy to industrial innovation, from its portfolio of solutions to the dissemination of a “climate and environment culture”, this virtuous trajectory mobilizes all of the Group’s components, and we are particularly proud that our new 2030 targets have been validated by the SBTi.”
The post Arkema to Cut Emissions Across Value Chain by More than Half by 2030 appeared first on ESG Today.