COMPO receives SBTi validation for climate targets

SBTi – What it’s all about
SBTi is a partnership between the Carbon Disclosure Project, the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature. It was launched in 2015 to help companies set ambitious emissions reduction targets in line with current climate science and the goals of the Paris Agreement to limit global warming to 1.5 degrees above pre-industrial levels.

Significance for COMPO With the SBTi near-term targets, COMPO is committing to an overall reduction in absolute greenhouse gas emissions across its value chain of 25 per cent by 2030 compared with the base year 2022. The targets meet the stringent requirements of the SBTi and are based on the latest findings in climate science.

 

Key milestone in the ESG programme
Following validation, COMPO has set specific, time-bound reduction targets for various emission categories. The trend in greenhouse gas emissions is documented as part of the carbon footprint assessment.

The targets confirmed by SBTi are as follows:
SBTi Services has confirmed that the science-based targets for reducing greenhouse gas emissions submitted by COMPO are consistent with the SBTi Standards and Guidance² and the SBTi Forest, Land and Agriculture Guidance (FLAG).

Energy & Industry: COMPO is committed to reducing absolute energy-related Scope 1 and 2 GHG emissions by 42 per cent by 2030, using 2022 as the base year. COMPO is also committed to reducing absolute Scope 3 GHG emissions – the indirect GHG emissions arising from the value chain – by 42 per cent over the same period.
FLAG: COMPO commits to reducing absolute Scope 1 and 3 GHG emissions from forestry, land use and agriculture by 30.3 per cent by 2030, using 2022 as the base year. COMPO also commits to ensuring that there is no deforestation associated with its primary raw materials, with a target date of 31 December 2025.

 

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