NETHERLANDS – The global bioscience company, Royal DSM has announced new sustainability commitments that aims to reduce 30% of its greenhouse gas emissions from direct production and purchased energy by 2030.
The new targets are part of the company’s strategy to deliver science-based, sustainable and scalable solutions that face up to the challenges brought by climate change.
To accelerate the integration of sustainability into its business groups, DSM has joined the Science Based Targets initiative (SBTi), comprising of almost 180 leading companies with validated science-based targets.
The Science Based Targets initiative champions science-based target setting as a powerful way of boosting companies’ competitive advantage in the transition to the low-carbon economy.
SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) with an aim to drive corporate climate action.
“We congratulate Royal DSM on setting emissions reduction targets in line with climate science.
By taking this ambitious step, they are real leaders in their sector and are doing their part to align with global efforts to prevent the most dangerous effects of global warming,” said Alexander Farsan, Global Lead for science-based targets at WWF, one of the Science Based Targets initiative partners.
The company said the new goals have been reviewed and approved by the Science Based Targets initiative and aligned with the Paris climate agreement.
The goals will be supported by energy efficiency measures and sourcing more renewable electricity and to this regard, the company has pledged to purchase 75% of electricity from renewable sources by 2030.
In 2018, DSM said it achieved 41% renewable energy and has applied an internal carbon price of €50 ($56.69) per ton of CO2 in a race towards low carbon operations.
DSM has set an even more ambitious target to reduce indirect value chain emissions by 28% per ton of product produced by 2030.
Emissions reductions in the value chain will be driven particularly through DSM’s recently initiated CO2REDUCE program, focusing on encouraging and challenging suppliers to reduce their climate impact.
“Adopting science-based targets aligned with the Paris Agreement supports us driving climate action throughout the value chain,” said Jeff Turner, Vice-President Sustainability at DSM.
“At DSM we also enable our customers to reduce their emissions with our Brighter Living Solutions.
I am proud DSM is taking proactive steps to enable the transformational change the world needs.”
In its 2018 Integrated Annual Report said it had made significant in terms of people, planet and profit, supported by its purpose-led Strategy 2021 which reinforces the company’s engagement with the United Nations Sustainable Development Goals (SDGs).