AkzoNobel Receives SBTi Approval For Carbon Reduction Target

AkzoNobel Grows Revenue 26 Per Cent During Q2 2021

AkzoNobel’s commitment to setting science-based sustainability targets has been officially validated by the Science Based Targets initiative (SBTi), saying it is the first paints and coatings company to receive the endorsement.

The original announcement was made in July, when AkzoNobel followed up on its commitment to setting science-based sustainability targets by announcing carbon reduction targets for the full value chain.

CEO Thierry Vanlancker said the company is proud to be the first in the industry to receive SBTi approval for its carbon reduction target.

“It’s a clear signal that we’re committed to taking stronger action to tackle climate change and will be an enormous innovation driver for what we do in our supply chain and with our customers,” Vanlancker said.

“It means we’ve aligned our own sustainability ambitions with the Paris Agreement, which aims to limit global warming and ensure that global temperature rise doesn’t exceed 1.5˚C above pre-industrial levels.”

AkzoNobel has also followed up the recent SBTi approval by restating its 42 per cent carbon reduction target (against a 2020 baseline) across the whole value chain, along with increasing it to 50 per cent by 2030 (against a baseline of 2018).

“This brings it in line with the company’s carbon reduction ambition in its own operations and will further sharpen and accelerate the company’s vision for its own People. Planet. Paint. approach to sustainable business,” said Vanlancker.

“Successfully combatting the impact of climate change is everyone’s responsibility, so we have to work with all our value chain partners to transition to lower/zero carbon alternatives. I also encourage our peers to commit to the SBTi by announcing their own targets and join us in setting the right example in our industry.”