Siegwerk’s Climate Targets Validated By SBTi Siegwerk, a global provider of printing inks and coatings for packaging applications and labels, has had its science-based climate targets validated by the Science Based Targets initiative (SBTi). Siegwerk joined the initiative with a commitment letter in 2022, and has set near- and long-term com- pany-wide emission reductions in line with sci- ence-based net-zero with the SBTi. SBTi is a global body enabling businesses to set am- bitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources In- stitute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The We Mean Business Coalition is a global coalition of nonprofits working together to accelerate the transition to a net-zero economy. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and inde- pendently assesses and approves companies’ targets. Siegwerk has had the following science-based tar- gets validated: Overall net zero target : Siegwerk commits to reach net-zero greenhouse gas emissions across the value chain by 2050. Near-term targets : Siegwerk commits to reduce absolute scope 1 and 2 GHG emissions 42 percent by 2030 from a 2020 base year. Siegwerk also com- mits to increase active annual sourcing of renewable electricity from 0 percent in 2020 to 100 percent by 2025, and to continue active annual sourcing of 100% renewable electricity through 2030. Siegwerk further commits to reduce absolute scope 3 GHG emissions from purchased goods and services 25 percent by 2030 from a 2020 base year. Long-term target : Siegwerk commits to reduce absolute scope 1 and 2 GHG emissions 90 percent by 2050 from a 2020 base year. Siegwerk also com- mits to reduce absolute scope 3 GHG emissions 90 percent within the same timeframe.
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14 October 9, 2023 Flexo Market News
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