Croda International Plc, the company that uses smart science to create high performance ingredients and technologies that improve lives, today (1 July 2021), announces it has become the third major chemical company in the world to have committed to net zero and have a verified 1.5°C Science Based Target (SBT).
95% of manufactured products rely on ingredients and technologies from the chemicals sector1. With high temperature processes the sector is recognised as hard to decarbonise, however, Croda has again shown its leadership in sustainability by committing to reduce its Scope 1 and 2 greenhouse gas emissions in line with the most ambitious SBT pathway. The objective of this pathway is to limit global temperature rises to no more than 1.5°C above pre-industrial levels and avoid the most catastrophic effects of climate change.
In 2019, Croda’s Chief Executive Officer, Steve Foots, indicated the company’s commitment to a 1.5°C scenario by signing the ‘Business Ambition for 1.5°C’ - the United Nations Global Compact call to action, which included a commitment to become a net zero organisation by 2050. Since then, the company has been working to understand how it can achieve these ambitions through the development of decarbonisation roadmaps across its manufacturing sites. Working with South Pole to develop its verified SBT targets, Croda has committed to reduce Scope 1 and 2 emissions by 46.2% from a 2018 baseline. The company will also reduce its upstream Scope 3 emissions by 13.5% through collaboration within its supply chain.
Phil Ruxton, Croda’s Chief Sustainability Officer said: “Last year we committed to be the most sustainable supplier of innovative ingredients; verification of our SBTs is a major milestone in this sustainability journey. We hope that by aligning to the 1.5°C pathway we can show others in our hard-to-decarbonise sector that this level of ambition to minimise the effects of climate change is achievable, and something we should all be striving for.”
1 Science Based Targets Initiative (SBTi), https://sciencebasedtargets.org/sectors/chemicals
About Croda www.croda.com
Established in 1925, Croda is the name behind sustainable, high performance ingredients and technologies in some of the world’s most successful brands: creating, making and selling speciality chemicals that are relied on by industries and consumers everywhere.
Croda is a FTSE 100 company with over 4,500 passionate and innovative employees, working across manufacturing sites and offices around the world with a shared Purpose to use Smart Science to Improve Lives™. As part of this Purpose, and with around two thirds of its organic raw materials already from bio-based sources, Croda has committed to be the most sustainable supplier of innovative ingredients, becoming Climate, Land and People Positive by 2030.