A milestone in its journey to reach carbon neutrality by 2050, Air Liquide has seen its Scope 1 & 2 carbon dioxide (CO2) emission reduction target approved by the Science Based Targets initiative (SBTi).
Adjudged today - May 20th - by the SBTi to be ‘qualified and aligned’ with climate science, the approval sees Air Liquide become the first industrial gas company to obtain validation from the initiative.
A joint effort between non-profit CDP, the UN Global Compact, World Resources Institute (WRI), and the World-Wide Fund for Nature (WWF), the SBTi aims to establish a zero-carbon economy by independently assessing companies’ sustainability targets.
Having previously taken part in the SBTi-led project to explore decarbonisation of the chemical sector, Air Liquide has also recently initiated a review of its Scope 3 emissions to meet carbon neutral goals by 2050.
Stating that the validation represents a ‘major recognition’ of the the company’s plan to reduce its carbon footprint by 2035, Fabienne Lecorvaisier, Executive Vice President, Member of the Executive Committee, said, “CO2 emissions reduction is a key objective of our strategic plan for 2025, ADVANCE.”
Announced last March, ADVANCE aims to accelerate sustainable development by prioritising:
· The delivery of strong financial performance – achieving an average annual sales growth of +5% to +6% and a return on capital employed (ROCE) of more than 10% from 2023.
· Decarbonising the planet – reducing CO2 emissions and promoting hydrogen solutions.
· Unlocking progress via technology – continuing to develop digital technology and advance the energy transition.
· Acting for all – improving the experience of its employees, customers, shareholders, and society as a whole.
“Air Liquide’s strong commitment to act for a sustainable future not only includes reducing the carbon emissions of its own assets, but also helping its customers to reduce their CO2 emissions and developing low-carbon ecosystems,” added Lecorvaisier.
Earlier this year, CDP awarded an “A-“ rating for the company’s climate change and water management efforts.