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Tuesday, November 29, 2022
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SBTi validates Verescence's carbon emission reduction targets

Verescence, the world's speciality for glass bottles for the perfumery and cosmetics industries, announces that the Science Based Targets (SBTi)1 initiative has validated its decarbonisation trajectory by 2034 and has recognised it as compatible with the scenario of limiting global warming to well below 2°C, in line with the recommendations of the Intergovernmental Panel on Climate Change (IPCC) and the Paris Climate Agreement.

This trajectory covers both direct CO2 emissions related to the manufacture of vials (Scope 1) and indirect emissions related to energy consumption (Scope 2), representing more than 60% of the Group's total cumulative emissions.

In concrete terms, Verescence is committed to reducing its CO2 emissions by 40% in absolute terms on scopes 1 & 2 by 2034 compared to the 2019 reference year.

To achieve this objective, the group has built a plan to reduce CO2 emissions based on several levers, whether it is to improve the energy performance of its existing processes, to deploy large-scale projects to electrify its furnaces or to increase its annual supply of electricity produced from renewable energy sources. Added to this is the acceleration of its eco-design solutions in collaboration with its customers (reusable or refillable glass, PCR2 glass, lightweight glass, etc.).

"We welcome the validation of our CO2 reduction targets by SBTi. An independent and scientific approach essential to fight against climate change. We are now one of the first glassmakers in the world to have a decarbonization trajectory in line with the Paris Agreement and aligned with the recommendations of the scientific community. The Group's objective is to achieve carbon neutrality by 2050," comments Thomas Riou, CEO of Verescence.

The glassmaker has estimated at 20 million euros the overinvestments necessary to achieve its objectives and also intends to reduce indirect emissions related to its value chain (Scope 3) by guiding its suppliers in a process of reducing their carbon footprint.

1 Launched in June 2015, the Science Based Targets (SBTi) initiative is a consortium of the world's leading global warming bodies: the Carbon Disclosure Project (CDP), the World Resources Institute (WRI), the World Wildlife Fund (WWF) and the United Nations Global Compact. It aims to encourage companies to set greenhouse gas (GHG) emission reduction targets aligned with the recommendations of the scientific community.

2 PCR: Post-Consumer Recycled, recycled glass from the local collection of household waste.

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