DUISBURG (dpa-AFX) - German steel and metal distributor Kloeckner & Co SE (KCO) Wednesday said it is already carbon neutral, and it commits to ambitious climate targets. The company aims for net zero emissions by 2040.
The company's near-term climate targets are validated as science-based by the Science Based Targets initiative or SBTi. The company already signed up in 2020 to SBTi 'Business Ambition for 1.5 ', the high-profile framework for emission reduction.
As part of its own long-term ambition, the company additionally aims to reduce directly controllable emissions to net zero by 2040. These include Scope 1, Scope 2 and Scope 3 emissions under direct influence. Through the reduction of its own Scope 1 and Scope 2 emissions alone, Kloeckner will save some 90,000 tons of carbon per year.
The company aims to achieve a 50% reduction in its scope 1 and 2 emissions - meaning emissions associated with the business itself, such as from Company-owned vehicles and purchased energy - by 2030.
In Scope 3, the Company will likewise reduce directly controllable emissions, such as from business travel, by 50% by 2030. Non-directly-controllable emissions will be cut by 30% by 2030. These near-term targets are in line with the latest scientific findings and with the Paris Climate Agreement providing for global warming to be limited to a maximum of 1.5 C.
Emissions that it can only control indirectly - primarily from bought-in steel products - are to be cut to net zero by 2050.
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