Gränges commits to climate neutrality by 2040 and joins the Science-Based Targets initiative
Gränges has decided to raise its sustainability ambition and aims to become climate neutral by 2040. As a part of this, Gränges commits to set science-based targets through the Science-Based Targets initiative (SBTi) and re-commits to the goals of the Paris Agreement.
During the last five years, Gränges has delivered strong progress towards ambitious sustainability targets. Total carbon emissions intensity has been reduced by 19 per cent versus baseline 2017, equal to an annual reduction rate of 5 per cent. The emission reduction has mainly been driven by increased circularity, and recycled volumes more than tripled in the same period. Sustainability and recycling are two critical parts of Gränges’ business model, and strong drivers of the company’s long-term competitiveness and value creation.
- We continue to focus on decarbonizing our business and leading the way in offering aluminium solutions that are clearly differentiated from a sustainability perspective. Committing to carbon neutrality and joining the SBTi are the natural next steps for us. Together with our customers and suppliers, Gränges can make an enormous difference, says Jörgen Rosengren, President and CEO.
Joining the SBTi demonstrates Gränges’ strong sustainability commitment and dedication to reduce the climate impact from its business and along the value chain. Gränges has previously established ambitious carbon emission reduction targets for 2025 (from a 2017 baseline), and the company’s new ambitious long-term target is to reach climate neutrality by 2040.
- Our new ambitious target to reach net-zero carbon emissions by 2040 clarifies the speed and magnitude of the decarbonization actions we need to take. I look forward to working with our customers and suppliers worldwide to raise the sustainability bar further and building an even stronger and more circular company for the future, says Sofia Hedevåg, SVP Sustainability.
The SBTi is a global partnership between Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Science-based targets provide a clearly defined pathway for companies and financial institutions to reduce greenhouse gas emissions, helping prevent the worst impacts of climate change and future-proof business growth. Targets are considered science-based if they are in line with the level of decarbonization required to keep global warming to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C.