GF commits to setting science-based targets to reduce its greenhouse gas emissions
GF commits to setting science-based targets to reduce its greenhouse gas emissions.
GF today sent a letter to the Science-Based Target initiative (SBTi) committing to setting science-based targets to reduce the company's greenhouse gas emissions (GHG). This marks the next step in GF's journey towards becoming an innovation and sustainability leader.
Using science-based targets enables companies to define by how much, and how quickly, they have to reduce their greenhouse gas (GHG) emissions along the value chain to slow down the effects of climate change in line with the Paris Agreement goals.
Developed using SBTi criteria and recommendations, GF's scope 1 and 2 target will draw on the latest climate science for limiting global warming to 1.5°C. Although scope 3 emissions are indirect to GF's operations, it will set an intensity target in cooperation with suppliers and customers. Targets will be submitted in the course of March 2022.
"Sustainability is an integral part of our business model and our strategy, and this commitment is a direct result of that," said Andreas Müller, GF CEO. "GF is now joining other businesses in leading the way to reduce CO2e emissions."
During its previous strategy cycle from 2016 to 2020, GF already lowered CO2e emissions from its own operations, which resulted in a reduction of 10% by the end of 2020. In 2021, the company also unveiled its Sustainability Framework 2025, which consists of three focus areas (Product Portfolio, Climate & Resources, and People & Well-being), a clear long-term ambition per focus area as well as eight goals with quantitative targets.
GF will report annually on its progress towards its scope 1, 2 and 3 targets within its Sustainability Report.