LC Packaging’s near-term science-based greenhouse gas emission reduction targets have been approved by the Science Based Targets initiative (SBTi). These targets reflect LC Packaging’s ambition to reduce the emissions from its value chain in line with the 1.5°C pathway. The targets cover the company’s full operations and value chain. This includes the direct (Scope 1) and indirect emissions (Scope 2 and 3) of all of its sales offices and warehouses, and its FIBC production facilities Dutch-Bangla Pack Ltd. (Bangladesh) and LC Shankar (South Africa).
A science-based commitment to reducing emissions
LC Packaging aims for a 50% greenhouse gas (GHG) emission reduction in its value chain by 2030, in line with the goals of the Paris Agreement of 2015. With its science-based targets, LC Packaging commits to reduce absolute scope 1 and 2 GHG emissions by 50% by 2030 from a 2021 base year. The company also commits to reduce absolute scope 3 GHG emissions by 50% within the same timeframe. By 2030, not more than 138,837 metric tons of CO2 equivalent must be emitted in LC Packaging’s value chain. This target is part of LC Packaging’s 2030 Ambition that includes goals in the field of Living Wage, Circularity and Climate Action. Read more about the company’s Climate Action goals in its 2030 Ambition magazine.
Why validation of emission reduction targets is important
The Intergovernmental Panel on Climate Change (IPCC) has warned that global warming must definitely not exceed 1.5°C to avoid the catastrophic impacts of climate change. To achieve this, the IPCC states that greenhouse gas emissions must halve by 2030 and drop to net zero by 2050. For businesses to have a true impact on this, relevant and substantiated targets are necessary. Emission reduction targets are considered science-based if they are in line with what the latest climate science deems necessary to limit global warming to that 1.5°C. According to Lucas Lammers, CEO of LC Packaging: “By setting a science-based target, we can be sure our efforts are credible and ambitious enough to make the necessary contribution to mitigate climate change.”
The SBTi’s target dashboard shows companies and financial institutions that have set science-based targets, or have committed to developing targets. Visit www.sciencebasedtargets.org.