New Delhi: SIG, a leading solutions provider of sustainable packaging has committed to reach net-zero greenhouse gas (GHG) emissions across its value chain by 2050.
The company also received approval for its group-wide Net-Zero science-based target from the Science Based Targets initiative (SBTi).
“Of the 2,000 plus companies globally with a public net-zero pledge, SIG is among the first 300 companies to have its target validated by the SBTi” it said in a statement.
SBTi is a Science Based Targets initiative drives ambitious climate action in the private sector by enabling organizations to set science-based emissions reduction targets.
The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
Switzerland based company has set a new series of near and long-term science-based emissions reduction targets with the SBTi, committing to reach net-zero – the point at which a balance is achieved between emissions produced and emissions taken from the atmosphere by 2050.
” These targets are significantly more ambitious than the company’s previous GHG reduction targets, approved by the SBTi in 2018 and 2020. The move sees SIG look beyond its own operations and commit to the decarbonization of its full value chain in line with climate science.” it said.
SIG’s new near-term 2030 commitments as follows: Reduction in 1 and 2 GHG emissions by 42 percent, 100 percent of renewable electricity through 2030 and over 51 percetn reduction in GHG emissions per liter packed
SIG’s new long-term 2050 targets include: 90 percent absolute reduction of scope 1 and 2 GHG emissions and 97 perent reduction of scope 3 GHG emissions per liter packed.
Speaking about the net-zero target, CEO Samuel Sigrist said, “The approval of our Net-Zero pathway by the SBTi is a milestone achievement that showcases our dedication to decarbonizing our operations and value chain”.
“Our new targets are considerably bolder than our previous GHG reduction targets and have been well received by our stakeholders. Decarbonizing our business will not be an easy task, but we’re excited to speed up our journey to net-zero as one of the first 300 companies that have received SBTi approval” he added.
Angela Lu, President and General Manager, Asia Pacific South said “SIG’s journey to become a net-positive business includes creating packaging “for better” that gives more to people and the planet than it takes out.
“We are committed to keep reducing our carbon footprint until we capture more carbon from the atmosphere than we emit, while ensuring our sustainable innovations help customers get more food to consumers around the world in even more safe, sustainable, and affordable ways” she said.
“SIG’s Rayong Plant in Thailand was the first of its kind in the region, when it installed a solar roof in 2018, covering an area of 17,664 sqm. This solar project with 12,350 panels can produce up to 5675 megawatt hours of electricity per year which in turn reduces (CO2) emissions by 12,871 tonnes since July 2018, equivalent to offsetting of CO2 by 280 to 415 trees or a forest area of 10,000 sqm” it said.
The main ways SIG is reducing its operational emissions (scope 1 and 2) are its 100% renewable electricity commitment and outstanding on-site solar installation program, as well as exploring low carbon energy sources to lower direct emissions.
The company said, “SIG’s products play a major role in reducing emissions across the value chain (scope 3), due to the amount and types of raw materials used.
“Going forward, the company’s priorities are to use less aluminum foil in its aseptic carton packs, work with suppliers to reduce emissions across the supply chain, further improve energy efficiency with new filling lines, and increase collection and recycling of used packaging” said the statement.
