KINGSPAN COMMITS TO AMBITIOUS NEW SCIENCE BASED TARGETS AS THE RACE TO ZERO GATHERS MOMENTUM

KINGSPAN COMMITS TO AMBITIOUS NEW SCIENCE BASED TARGETS AS THE RACE TO ZERO GATHERS MOMENTUM
  • 90 per cent reduction in Scope 1 and 2 emissions targeted by 2030
  • 42 per cent reduction for Scope 3 targeted by 2030

Kingspan Group, the global leader in building envelope solutions, today announces ambitious new targets for reducing its Scope, 1,2 and 3 GHG emissions.

In 2018, Kingspan signed up to the Science Based Targets Initiative[1], a validated emissions reduction framework that has been adopted by over 1000 companies globally.

The targets committed the Group to reducing Scope 1, 2 and 3 targets by 10 per cent by 2025 versus a 2017 baseline. Over the last three years Kingspan has expanded considerably through acquisition and organic growth. In line with best practice, new targets have been set reflecting the size and scale of the business today. 

The new targets align with Kingspan’s Planet Passionate programme and reflect the company’s determination to be a global leader in sustainability.

The Group has now committed to reducing absolute Scope 1 and 2 GHG emissions[2] by 90% by 2030 from a 2020 base year. It has also pledged to reduce absolute Scope 3 GHG emissions[3] by 42% within the same timeframe.

The ambitious new targets are in line with the scale of reductions required to keep global warming below 1.5C from pre-industrial levels.

As part of its Planet Passionate commitments Kingspan has already pledged to achieve net-zero carbon manufacturing by 2030 through a combination of process improvements, energy productivity and renewable energy use. This is just one of 12 targets that address impacts in four key areas: carbon, water, energy and circularity.

“Significantly reducing our carbon impact across our value chain by 2030 is not just business-critical, it’s planet-critical,” said Bianca Wong, Kingspan’s Global Head of Sustainability. “Our revised science-based targets reinforce our commitment to be an industry leader on climate action and will help to drive change throughout the business at the pace required.”

[1] The Science Based Targets Initiative is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi call to action is one of the We Mean Business Coalition commitments.

2 Scope 1 emissions are direct greenhouse emissions that occur from sources that are controlled or owned by an organization (e.g., emissions associated with fuel combustion in boilers, furnaces, vehicles). Scope 2 emissions are indirect emissions associated with the purchase of electricity, steam, heat, or cooling.

3 Emissions from purchased goods and services, use of sold products and end-of-life treatment of sold products. The target boundary includes biogenic emissions and removals from bioenergy

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KINGSPAN COMMITS TO AMBITIOUS NEW SCIENCE BASED TARGETS AS THE RACE TO ZERO GATHERS MOMENTUM
BDC August 2022 issue - 295

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