Climate Neutrality...
We don't say it's easy – but possible.
Together.
Our world is currently facing unprecedented challenges. Yet we must not lose sight of the long-term developments like climate change. The chemical and plastics industry is one of the biggest emitters of greenhouse gases. But we are also part of the solution with innovative products to foster a truly sustainable world and cope with global challenges.
A journey of transformation towards sustainability for Covestro includes ambitious targets for initially reducing the emissions generated by our own production (scope 1) as well as emissions from purchased energy sources (scope 2) and becoming climate-neutral in these aspects by 2035. This year, Covestro has announced scope 3 climate neutrality targets by 2050, completing its climate strategy for reducing greenhouse gas emissions. Climate neutrality can only succeed through close cooperation along the entire supply chain. Covestro’s scope 3 climate neutrality targets that make up around 80 percent of the company’s total greenhouse gas emissions are an important part of this and will be implemented alongside customers and suppliers.
Four levers for achieving our target and reducing scope 3 greenhouse gases
1. Suppliers’ scope 1 and scope 2 emissions reduction, which in turn can count towards Covestro’s scope 3 targets. Covestro is continuing its discussions with suppliers in long-term to short-term changes in supplier production processes.
2. The profitable sale of products made from alternative raw materials. Covestro already has circular solutions in its product portfolio under the CQ (circular intelligence) label. CQ products are made of at least 25 percent alternative, non-fossil-based raw materials.
3. The MAKE projects in which Covestro manufactures alternative raw materials with a smaller carbon footprint. These projects include, for instance, manufacturing bio-based aniline and Covestro’s Evocycle CQ technology, which is used to recycle mattresses.
4. Numerous different factors that help to reduce scope 3 emissions. These include, for instance, increasing recycling rates to reduce emissions from waste incineration, and changing to logistics and primary energy extraction, as well as accelerating innovation processes through digital R&D and AI.
In Thailand, with Covestro’s world-scale production site in Map Ta Phut, we also work closely with our partners to study the possibility of greenhouse gas reduction to contribute to the company’s climate neutrality goals and the scope 3 target. One contribution can be demonstrated through achieving the ISCC Plus certificate, which utilises bio-based feedstock instead of fossil-based feedstock. We also explore the potential for other “green” raw materials such as CO or hydrogen and green energy from the solar roof at our site which is an on-going supplementary project in which we are collaborating with related authorities, federations and energy providers to advocate for green energy sources, including green steam and green electricity. In terms of logistics, Covestro Thailand is also making a lot of effort in all possible ways to reduce carbon emissions from our logistics activities. We collaborate with suppliers to implement electric vehicles, operate green warehousing and use recyclable packaging, and are exploring opportunities for other green supply chain developments.
“Covestro wants to join forces with all key players and partners both from the government and private sectors to facilitate the development of favourable infrastructure and policies to reduce carbon footprint. This will not only drive towards achieving the company’s goals but also meeting the country’s targets”.
Source: www.covestro.com