Solvay accelerates pace toward net zero emissions with new scope 3 target
This new target of -24%, which addresses the greenhouse gas emissions of suppliers, customers and beyond in the value chain, puts the Group among leading companies in the global chemical sector.
Solvay today announces its plans to reduce scope 3 greenhouse gas emissions by -24% by 20301. This builds on the 2030 targets set out in its sustainability roadmap, Solvay One Planet and represents the next stage in the Group’s ongoing journey to reach net zero emissions. Committing to the scope 3 emissions target requires reducing indirect GHG emissions in the value chains. These emissions are associated with activities occurring outside of Solvay’s walls, primarily at suppliers’ and customers’ sites, when the consumer uses the product or at the end-of-life of the product.
As part of its Solvay One Planet roadmap, Solvay already aligned its scope 1 and 2 trajectory with the “well below 2°C temperature increase” goal outlined in the Paris Agreement and upgraded its emissions reduction target to -30% by 2030 (from -26% initially set in 2020). Solvay has already achieved a -11% structural reduction between 2018 and 2021.
“With this commitment, Solvay is taking an important step towards net zero emissions and continuing its fight against global warming,” said Ilham Kadri, CEO of Solvay. “We want to work with our business partners to achieve a drastic reduction of the carbon footprint associated with our activities along the whole value chain. We will also be at the forefront of innovation, delivering circular solutions that meet customers’ and end-users’ needs as the transition towards net-zero emissions unfolds and reshapes the economy.”
To achieve the scope 3 target, Solvay will step up working in close collaboration with its suppliers and customers. For example, the Group has launched procurement initiatives for strategic suppliers, as climate commitments and collaborations will form the base for future strategic supplier relationships. Solvay is also switching to bio-based raw materials, increasing the use of clean energy and renewable carbon feedstock in its product offering, and developing circular solutions. In addition, the Group is developing partnerships with its customers to ecodesign new products and processes that will reduce emissions from cradle to end of life.
Solvay is part of several breakthrough industry initiatives to ensure transparency and develop best-in-class product carbon footprint assessments in collaboration with business partners in the value chain (ie. WBCSD, Together for Sustainability). Solvay is also an industry leader in the assessment of GHG impacts downstream with the implementation of robust tools, such as the Sustainable Portfolio Management and the Life Cycle Analysis tools.
Solvay will report annually on progress toward achieving its scope 3 target and Solvay One Planet’s goals in the Group’s annual integrated report. Additional information is available in the Sustainability section of solvay.com.
1 against a 2018 baseline ; incorporating 90% of the Group total scope 3 GHG emissions.
This press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 21,000 employees in 63 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet roadmap crafted around three pillars: protecting the climate, preserving resources and fostering a better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities and delivered net sales of €10.1 billion in 2021. Solvay is listed on Euronext Brussels and Paris (SOLB). Learn more at www.solvay.com.