Clariant Accelerates Sustainability Transformation with Climate Targets

Clariant, a goal-oriented and innovative specialty chemicals company, announced that it has taken another step forward in its targets on the path to enabling a sustainable future. Following the establishment of a dedicated transformation unit in 2020 to accelerate sustainability transformation, the company announced that it will support the Science Based Targets initiative by committing to new 2030 targets for reducing CO₂ emissions. Officially approved by the Science Based Targets initiative, the new targets include ambitious absolute emission reductions in the company's operations and supply chain. Through its work in this scope, Clariant is targeting to achieve the level of decarbonization required to keep global temperature rise below 2°C, with plans for 40% absolute reduction in Scope 1 and 2 greenhouse gas emissions and 14% absolute reduction in Scope 3 greenhouse gas emissions between 2019 and 2030. On the matter, Clariant Transformation President Bernd Hoegemann states: "Sustainability is one of the five core areas upon which Clariant has built its strategy. And this is guiding our transformation process as a leading specialty chemicals company. Our new targets in this scope demonstrate our commitment to contributing to a more sustainable future, while enabling innovation and transformation, the two vital factors that will lead us to success."

The adverse effects caused by climate change make it far more important to reduce emissions generated by the chemical sector and to enable such reductions in other sectors as well. Moreover, these adverse effects actually provide an enormous opportunity environment in terms of developing and implementing innovative and sustainable solutions. Through this, our world continues to become increasingly aligned with the Paris Climate Agreement, which was prepared to combat climate change and accepted by most countries.

Regarding Clariant's work, Cynthia Cummis, Director of Reducing Climate Change Impacts in the Private Sector at the World Resources Institute, a partner of the Science Based Targets initiative, shares her comments: "We commend Clariant for setting emission reduction targets in line with climate science and Paris Climate Agreement objectives, and wish them success in their efforts for a successful transition to a net-zero economy." In addition to these; other environmental targets such as water intake, wastewater, hazardous waste, non-hazardous waste sent to solid waste disposal sites and nitrogen oxide emissions (NOx) accompany the science-based targets implemented by Clariant. Clariant furthermore commits to implementing sustainable water management systems in all facilities in high water stress areas by 2030. These targets ensure continuous improvement of Clariant's environmental footprint and provide greater support to Sustainable Development Goal 13 "Climate Action," one of the UN Sustainable Development Goals on which Clariant focuses most. In addition to all of this, Clariant is also continuing to adapt important management elements to its organization, such as linking greenhouse gas emissions reductions to salary payments and implementing internal carbon pricing, to drive sustainability transformation. Clariant follows a mixed approach to reduce emissions in its value chain. Through this, the company is increasingly focusing in its operations on increasing energy efficiency through digitalization, as well as increasing the use of green electricity and low-carbon fuels. It is seeking to accelerate innovation in value chains by increasing the use of low-carbon raw materials such as waste streams and sustainable bio-based materials. The science-based targets commitment marks the next milestone in Clariant's sustainability transformation journey, emphasizing its performance across all environmental, social and governance (ESG) dimensions. This latest commitment follows many of Clariant's achievements, including receiving the highest innovation score in its sector, being included in the Dow Jones Sustainability Index for the eighth consecutive time, and recently finding a place in the newly established SPI ESG Indices of the Swiss Stock Exchange.