Bekaert obtains SBTi validation for the Group’s carbon reduction targets
Bekaert is proud to announce that its near-term and long-term greenhouse gas emissions reduction targets have been validated by the Science Based Targets initiative (SBTi).
"As the world is transitioning to a zero-carbon economy, it is the responsibility of industrial companies like Bekaert to lead the way in decarbonization actions, in boosting innovation, and in driving smart, safe and sustainable solutions in the end-markets”, says Oswald Schmid, CEO of Bekaert. “I am proud that our ambitious carbon reduction targets have now been officially validated and that we join the group of leading companies that commit to targets supporting the limitation of global warming to 1.5 degrees Celsius according to latest science. Delivering upon these targets forms an inherent part of the commitment we make through our sustainability strategy.”
Bekaert’s carbon reduction targets
- Bekaert has committed to actions to align emissions reduction targets to the 1.5-degree target of the Paris agreement. As part of an overall commitment to become Carbon Net Zero by 2050, the company has set ambitious targets for its value chain, covering Scope 1, Scope 2 and Scope 3 emissions.
- For Scope 1 and 2 combined, Bekaert will reduce greenhouse gas emissions in absolute terms by 46.2% by 2030, compared to 2019. To this end, Bekaert will enhance the energy efficiency of its operations and increase the proportion of renewable energy supply.
- For Scope 3, Bekaert will reduce the absolute greenhouse gas emissions by 19.7% by 2035 compared to 2019. To reach this ambitious objective, Bekaert engages with suppliers and customers to commit to carbon reduction targets and to measures based on circular principles across the value chain.
The Science Based Targets initiative (SBTi)
SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practices in science-based target setting and independently assesses companies’ targets.