AkzoNobel says it has become the first paints and coatings company to follow up on its commitment to setting science-based sustainability targets by announcing carbon reduction targets for the full value chain.
The company said it has aligned its own sustainability ambitions with the Paris Agreement, which aims to limit global warming and ensure that global temperature rise does not exceed 1.5˚C above pre-industrial levels.
AkzoNobel’s target is to reduce carbon emissions for the whole value chain by 42 per cent by 2030 (against a 2020 baseline). This will apply to the company’s own operations as well as its partners, such as customers and suppliers. Currently being officially validated by the Science Based Targets initiative (SBTi), AkzoNobel said the target will further sharpen and accelerate its vision for its own ‘People. Planet. Paint.’ approach to sustainable business, which was launched in 2019.
“Setting a target like this really matters,” said Thierry Vanlancker, CEO of AkzoNobel. “It’s a clear signal that we’re preparing to mobilise our teams globally and take stronger action to tackle climate change. We need to act fast and focus on collaboration and innovation. When push comes to shove, there are those who contribute towards a zero-carbon future and those who don’t. We’re determined to do all we can and set the example by being the frontrunner in our industry.”
AkzoNobel said it has already taken “great strides” forward with its ‘People. Planet. Paint.’ approach and is forging ahead of target on two key environmental ambitions – halving its own carbon emissions and having 100 per cent renewable electricity in the company’s operations by 2030. To highlight the progress, it was recently announced that AkzoNobel would operate only on renewable electricity in Europe by 2022.
“To achieve our carbon reduction target, we have to look further than our own operations,” said Vanlancker. “So we’ll be encouraging all our value chain partners to transition to lower/zero carbon alternatives. I also encourage our peers to commit to the SBTi, announce their own targets and join us in setting the right example in our industry.”