Siegwerk Commits to Science Based Targets initiative
By joining the Science Based Targets initiative, Siegwerk is showing that it is even more committed to being carbon neutral, which is in line with the latest climate science.
Siegwerk, a leading global provider of printing inks and coatings for packaging applications and labels, has signed the commitment letter for the Science Based Targets initiative (SBTi) and is the only major ink manufacturer to do so to date.
The SBTi asks companies to show how serious they are about reducing climate change by publicly pledging to cut their greenhouse gas emissions using science-based goals. A goal is science-based if it is in line with the level of decarbonisation needed to keep the rise in global temperature to less than 1.5°C from preindustrial levels.
The Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) collaborated on the Science Based Targets programme. Over 4000 companies have already signed up, with Siegwerk being the first major international ink manufacturer to do so.
“Siegwerk has accelerated its commitment and action towards decarbonisation rapidly, so joining SBTi is the next logical step,” said Alina Marm, Global Head of Sustainability and Circular Economy at Siegwerk. “We recognise the importance of adhering to the latest science when setting our decarbonisation targets and acknowledge the important role businesses play in mitigating climate change and our own impacts on the environment.”
Siegwerk is committed to setting science-based targets as well as net-zero targets, including a long-term science-based target. The company is expecting to submit these targets to the SBTi in the first half of 2023. In doing so, Siegwerk will be part of the Business Ambition for 1.5°C campaign and the Race to Zero campaign, aiming to reduce emissions in line with a trajectory to keep the global temperature increase to 1.5°C.
As a top manufacturer of inks and coatings, Siegwerk uses its place in the packaging value chain to make positive changes outside its business. As a part of its HorizonNOW sustainability initiative, it has set seven measurable goals to reach by 2025. They are based on the Sustainable Development Goals (SDGs) of the United Nations and cover every part of the business.
These include achieving carbon neutrality for scope 1 and 2 emissions around the world, establishing product environmental footprint data for all of Siegwerk's products, and making sure that at least 15% of the company's top executives are women. In this way, Siegwerk made it clear that it is a leader in the industry when it comes to sustainability and climate leadership.