The Science Based Targets initiative aims to motivate companies to set themselves ambitious climate goals in order to stop climate change and limit global warming to two degrees Celsius at most.
The initiative, put together by Carbon Disclosure Project (CDP), UN Global Compact, World Resources Institute (WRI) and the WWF, has developed the sector-based decarbonization approach (SDA).
This is a new method in which players in each sector set their goals in accordance with scientifically based climate research for a period of time until 2050, allowing them to effectively counteract climate change.
“Symrise is one of the first German companies to apply for science-based targets,” said Dr. Helmut Frieden, Corporate Sustainability at Symrise. “We are even prouder that those running the initiative agree that the goals we have laid out are right and have approved them.”
The sustainability experts at Symrise defined the 2016 greenhouse gas emissions for the entire supply chain for the application process, the company explains. Based on these, they developed concrete goals for the company’s production, which they then presented to the initiative’s steering committee for validation.
Symrise is committing to reducing its greenhouse gas emissions by 17.5 percent by 2030. In addition, the fragrance and flavours player wants to ensure that suppliers who provide at least 80 percent of the entire purchasing volume of raw materials commit themselves to their own climate targets and reduction measures.
Eila Karbassi, Chief of Programmes at the UN Global Compact - a Science Based Targets initiative partner, says moves by companies to offer ambitious targets on carbon footprint reduction are welcome.
“It is encouraging to see companies such as Symrise set industry-leading targets to cut emissions,” she says.
“By ensuring targets are aligned with the goals of the Paris Agreement, Symrise is demonstrating to investors, customers and policymakers that they are preparing to transition to the low carbon economy while future-proofing growth."