Solvay steps up sustainability with science-based targets
The Group will now include value chain emissions as part of the Science Based Targets initiative
Brussels, October 8, 2020 - 08:00 CET
Solvay has raised its sustainability ambition one step further and committed to review its 2030 objectives to reduce greenhouse gas emissions in line with the Science Based Targets initiative.
“Earlier this year, we adopted a 2030 goal to reduce our emissions twice as fast than under our previous goal, effectively closing up with a Paris Agreement trajectory,” says Solvay CEO Ilham Kadri. “Now we will take this commitment a step further by joining with customers, suppliers and all other companies that are setting emissions reduction targets in line with what climate science says is necessary. We have to reinvent progress and act decisively in this decade to minimize the climate risk.”
Solvay will further reduce emissions from its own factories (Scope 1) as well as emissions related to the energy it purchases (Scope 2). The new targets will also include emissions in the value chains connected to Solvay’s activities. These emissions (Scope 3) are principally embedded in goods and services purchased and emissions taking place during the processing, use and end of life of products sold.
Solvay’s new sustainability ambition, Solvay One Planet, published earlier this year, pushes to focus on the company’s impacts in line with society’s expectations. Solvay One Planet is inspired by the United Nations Sustainable Development Goals (SDGs). It includes ten measurable commitments in three key focus areas: climate, resources and better life. The addition of these new science-based targets was also presented to investors at a dedicated ESG webinar on October 2, 2020.
“By embedding a drastic reduction of the full carbon footprint of our business activities, we will also be at the forefront of innovation delivering solutions that meet customers’ and end-users’ appetite as the transition towards zero carbon unfolds and reshapes the economy,” explained Ilham Kadri.
The Science Based Targets initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 24,100 employees in 64 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 plan crafted around three pillars: protecting the climate, preserving resources and fostering 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 €10.2 billion in 2019. Solvay is listed on Euronext Brussels (SOLB) and Paris and in the United States, where its shares (SOLVY) are traded through a Level I ADR program. Learn more at www.solvay.com.