News
01.05.2024
Faerch’s net-zero target has been validated by Science Based Targets Inititative (SBTi)
Faerch’s greenhouse gas emissions reduction targets have been validated by the Science Based Targets initiative (SBTi), underlining our commitment to the ambitious 1.5°C pathway from the Paris Agreement and setting a higher ambition level for climate action in the rigid food packaging industry.
The SBTi reflects best practice in corporate climate target setting
Faerch’s greenhouse gas (GHG) emissions reduction targets have been validated by the Science Based Targets initiative (SBTi), underlining our commitment to the ambitious 1.5°C pathway from the Paris Agreement and setting a higher ambition level for climate action in the rigid food packaging industry.
Faerch aims for Net-Zero* greenhouse gas emissions for the entire business in 2040, and reducing 50% in 2030 from a 2022 base year. The validated targets are absolute targets to reduce emissions from Faerch’s own operations and across its supply chain (covering all scope 1, 2 and 3 emissions).
*Net-Zero is defined as: Reducing scope 1, 2 and 3 emissions to zero or to a residual level that is consistent with reaching net-zero emissions at the global or sector level in eligible 1.5°C-aligned pathways and neutralising any residual emissions at the net-zero target year and any GHG emissions released into the atmosphere thereafter.
Our transition path towards net-zero
At Faerch, our commitment to sustainability and innovation has driven us forward on our journey. In order for us to meet our ambitious targets we have identified our must-win battles; scale our recycling division further, continuously increase the amount of circular content in our products and have 100% renewable energy at our sites.
Here is a glance of our transition path towards net-zero:
Scope 1 & 2: Own Operations – We want all our sites to be powered by 100% renewable energy through Power Purchase Agreements (PPAs) and on-site solar panels.
Scope 3: Value Chain Focus – We want to scale our recycling division and work closely with suppliers to convert to low-carbon input materials. Transportation should be moved towards low carbon alternatives and we will have an increased focus on recyclable or reusable external packaging as well. We will also implement waste reduction and segregation for reuse and recycling at our production sites.
Delivering Net-Zero by 2040 – Our “Race to Zero” journey involves engagement with our partners and customers to develop a net-zero food packaging industry. Active partnerships supporting circularity and climate action will be instrumental to manage the environmental impacts of our value chain effectively. Any residual emissions will be neutralized in line with SBTi criteria before reaching net-zero emissions through third-party verified climate solutions, adhering to our principle of benefiting society as a whole.
“These validated targets serves as a proof-point that a company producing food packaging from plastic is able to adopt ambitious science-based targets and get them validated, as plastic material able to provide circularity will be a part of the solution. We know that delivering on our targets will be a difficult task, however setting ambitious targets, both near- and long-term, is critical to our transition efforts as they drive action to secure material impact and ensure industry-leading circular offerings in this decade and a commitment to deliver net-zero to customers by 2040.”
Camilla Fangel - Senior Director, Global Sustainability & Public Affairs at Faerch
