Ireland: Kingspan Group has highlighted its membership of Science Based Targets initiative (SBT) to set targets to reduce its greenhouse gas emissions. Kingspan has set a 10% reduction in emissions by 2025 from the base year of 2017. It also plans to reduce its absolute emissions from purchased goods and services, business travel, transport and distribution, and end-of-life treatment of sold products by 10%. It committed to its target in February 2018.
“At Kingspan, we are dedicated to sustainable business practise, from our products, to our processes and our people, which is why we are delighted to sign up to the Science Based Targets Initiative. This provides measurable targets for our business to achieve and will ensure that we continue to match our words with actions that make a real difference,” said Gene Murtagh, chief executive officer (CEO) of Kingspan.
The SBT initiative is the result of a partnership between the World Resource Institute, the World Wildlife Fund, CDP (formerly the Carbon Disclosure Project) and the United Nations Global Compact, which looks to support companies across the world to do their part in tackling the worst impacts of climate change by supporting them to determine how much they must cut their emissions by. It provides participating companies with a clearly defined pathway to future-proof business growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions. These targets are set in line with the level of decarbonisation required to keep global temperature increase below 2°C, consistent with the goals of the 2015 Paris Climate Conference, which 195 countries signed up to.
In 2017, 69% of the total energy used by Kingspan’s operations came from renewable sources, and the group says it is on target to achieve its goal of Net Zero Energy (NZE) status by 2020. As part of its journey to achieve NZE status, Kingspan Group has seen a 77% reduction in carbon intensity across its operations, and is benefitting from 34.5GWh of on-site energy it is generating.
