Croda International Plc announced today that it has become the third major chemical company in the world to commit to achieving net zero and to have a science-based target (Science Based Target) of 1m5°C.
95 % of manufactured products are based on ingredients and technologies from the chemical sector1. With high temperature processes, the sector is recognized as difficult to decarbonize, however, Croda is committed to reducing its Scope 1 and 2 greenhouse gas emissions in line with the most ambitious SBT pathway. The goal of this pathway is to limit the rise in global temperatures to no more than 1.5°C above pre-industrial levels and avoid the most catastrophic effects of climate change.
In 2019, Croda CEO Steve Foots indicated the company's commitment to a 1.5°C scenario by signing " Business Ambition for 1.5°C "- the United Nations Global Compact call to action, which included a commitment to become a net zero organization by 2050. Since then, the company has been working to understand how it can achieve these ambitions through the development of decarbonization roadmaps across its manufacturing sites. Working with South Pole to develop its verified SBT goals, Croda has committed to reducing Scopes 1 and 2 emissions by 46.2 % from 2018 levels. The company will also reduce its upstream Scope 3 emissions by 13.5 % per collaboration within its supply chain.
Phil Ruxton, Chief Sustainability Officer of Croda, said, " Last year, we committed to being the most sustainable supplier of innovative ingredients; our SBT verification is a major step in this sustainability journey. We hope that by aligning ourselves with the 1.5°C trajectory, we can show others in our hard-to-decarbonize industry that this level of ambition to minimize the effects of climate change is achievable, and something we should all strive for. "