In addition to direct greenhouse gas emissions from production (Scope 1), the Group is now also setting itself ambitious goals to reduce Scope 2 emissions (energy-related) and Scope 3 emissions (raw materials, transport, etc.). These target reductions will be scientifically evaluated within the framework of the independent Science Based Targets initiative (SBTi) to ensure their compatibility with the Paris goals, and, following detailed examination, validated correspondingly.
Customer and supplier relationships as well as capital market evaluations are increasingly focusing on efforts to achieve the global targets set out in the Paris Climate Agreement.
“We have decided to subject ourselves to examination by the Science Based Targets initiative to offer our stakeholders the greatest possible levels of transparency and comparability when it comes to our climate action measures. The complex process of monitoring and goal setting along the entire process chain highlights our commitment to achieving climate neutrality over the long term,” says Herbert Eibensteiner, CEO of voestalpine AG
The objectives apply not only to the steel-producing sites in Linz and Donawitz, but also the entire voestalpine Group.
Specifically, and taking the year 2019 as its reference, the company plans a 30% reduction in Scope 1 and 2 emissions and a 25% reduction in Scope 3 emissions by 2029.
The Science Based Targets initiative is a partnership between the Climate Disclosure Project (CDP), UN Global Compact, World Resources Institute, and World Wildlife Fund for Nature (WWF). It helps companies align their business activities with the Paris Climate Goals and provides scientific proof of this achievement. Globally, around 3,000 companies from a wide range of sectors including the steel industry are involved in the SBTi.