SARPSBORG, Norway, Jan. 14, 2020 (Press Release) -The Science Based Targets Initiative has approved Borregaard's target for reducing greenhouse gas emissions. Borregaard's emissions will be reduced by 53% by 2030 and 100% by 2050, from a 2009 base year.
Borregaard joined the Science Based Targets Initiative in 2017 and has defined a science-based target that is in line with the level required to limit the global temperature to 1,5 degrees Celsius by 2050.
“We have set out ambitious targets for greenhouse gas reductions that commits us to take climate action. We will demonstrate how our business can help to advance sustainable development by minimising negative environmental impacts from our production and maximising positive environmental impacts from the products we produce”, says President and CEO Per A. Sørlie at Borregaard.
Since 2009, direct and indirect CO2 emissions from Borregaard have already been reduced by 34 percent. The goal of reducing the emissions by 100 percent by 2050 will be achieved, among other things, by further reducing energy consumption and at the same time increasing the use of renewable energy. Further development of carbon capture and storage technology is also crucial to achieve this goal.
Borregaard also commits to reduce indirect greenhouse gas emissions by 30 percent by 2030 and 75 percent by 2050 from a 2017 base year. Indirect emissions are emissions that do not occur directly in connection with Borregaard's production processes, such as emissions associated with transport of goods, production of raw materials and others.
Borregaard has prioritised six of the seventeen Sustainable Development Goals set out in the UN’s 2030 Agenda for Sustainable Development. The priorities were selected based on the global challenges the world faces, as well as the solutions the company can contribute. The six prioritised Sustainable Development Goals are: Zero hunger; Decent work and economic growth; Industry, innovation, and infrastructure; Responsible consumption and production; Climate action; and Life on land. Borregaard can have an impact in these areas through its biorefinery concept and its sustainable products.
Borregaard has one of the world's most advanced biorefineries. By using natural, sustainable raw materials, the company produces advanced and environmentally friendly biochemicals and biomaterials that can replace oil-based products. Borregaard has 1100 employees in 16 countries and had a turnover of NOK 4.8 billion in 2018 from sales to over 100 countries.
The Science Based Targets initiative (SBTi) is a “joint initiative by CDP, the UN Global Compact (UNGC), the World Resources Institute (WRI) and WWF. The initiative aims to increase corporate ambition on climate action. The initiative, launched in 2015, “defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets”.