SIG's Net-Zero Path Approved by SBTi
SIG has achieved a significant milestone as it received approval for its ambitious group-wide Net-Zero science-based target from the esteemed Science Based Targets initiative (SBTi).
The company is now committed to achieving net-zero greenhouse gas (GHG) emissions across its entire value chain by 2050, making it one of the first 325 companies globally to have their target validated by the SBTi among the 2,000+ companies with a public net-zero pledge.
In collaboration with the SBTi, SIG has set forth a series of new, rigorous, near- and long-term science-based emissions reduction targets. Their goal is to attain net-zero emissions, achieving a balance between emissions produced and emissions removed from the atmosphere by the year 2050.
These objectives are much more ambitious than SIG's previous GHG reduction targets, which the SBTi approved in 2018 and 2020. This move highlights SIG's commitment to extend its focus beyond its own operations and align its entire value chain with climate science to combat climate change.
For the near-term target of 2030, SIG has outlined the following commitments based on 2020 as the baseline year:
An impressive 42% absolute reduction of scope 1 and 2 GHG emissions.
A commitment to source 100% renewable electricity through 2030.
A notable 51.6% reduction of scope 3 GHG emissions per litre packed.
Looking ahead to the long-term target of 2050, SIG aims for even more substantial reductions:
A remarkable 90% absolute reduction of scope 1 and 2 GHG emissions.
A commendable 97% reduction of scope 3 GHG emissions per litre packed.
Samuel Sigrist, CEO at SIG, expressed his delight at achieving SBTi approval, stating that this milestone showcases their unwavering dedication to decarbonising both their operations and value chain.
He emphasised the bolder nature of their new targets, which have garnered positive feedback from stakeholders. While acknowledging the challenges ahead, SIG is excited to be among the first 325 companies to receive SBTi approval and is committed to accelerating their journey to net zero.
To contribute to the Paris Agreement's goals and limit global warming to 1.5°C, the SBTi's stringent approval process ensures SIG employs a robust, clear, and scientific framework to support global efforts in mitigating the impacts of climate change.
To reduce operational emissions (scope 1 and 2), SIG is taking multiple measures, including a 100% commitment to renewable electricity and a remarkable on-site solar installation programme. Additionally, the company is actively exploring low-carbon energy sources to further lower direct emissions.
SIG's products play a vital role in reducing emissions across the entire value chain (scope 3) due to the materials they use. Going forward, the company's priorities include reducing the usage of aluminium foil in aseptic carton packs, collaborating with suppliers to cut emissions throughout the supply chain, improving energy efficiency with new filling lines, and increasing the collection and recycling of used packaging. These initiatives demonstrate SIG's steadfast dedication to sustainability and combating climate change.
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