JUERGEN ALTMANN STUTTGART GERMAN
Liveo Research AG’s decarbonization targets were approved in alignment with Science Based Targets Initiative (SBTi). This enables Liveo Research AG to expand its climate protection activities in a targeted manner based on the latest climate protection science. In February 2023, the global pharmaceutical packaging company submitted its near-term decarbonization strategy to SBTi – including specific targets for Scopes 1, 2, and 3. After a 15-month validation process, the company successfully passed this process. The SBTi validation affirms that Liveo Research’s climate protection targets with the defined measures are in line with the Paris Climate Agreement to limit the global rise in temperature:
1. Scope 1+2 target: “Liveo Research AG commits to reduce absolute scope 1+2 greenhouse gases (GHG) emissions 33.6% by 2028 from a 2021 base year.”
2. Scope 3 target: “Liveo Research AG commits to reduce absolute scope 3 GHG emissions 25% by 2028 from a 2021 base year.”
The submission of these climate targets at SBTi was preceded by a comprehensive analysis of the company’s carbon footprint across business units and production sites worldwide. This process was followed by close collaboration with key suppliers, customers and other stakeholders to understand and define what are the most advanced techniques and technologies that Liveo Research can implement over time to set ambitious reduction targets within the industry. Based on this, the company then defined specific sub-targets, action plans and KPIs to track progress. For a better understanding: Scope 1 are the direct emissions caused, for example, by the combustion of fossil fuels in Liveo Research production sites or by other processes within the company itself. Scope 2 are indirect emissions that arise, for example, from the purchase of energy or electricity.
Finally, Scope 3, which accounts for more than 85% of the company’s carbon footprint, is associated with indirect emissions within the value chain that are generated by upstream (e.g. raw materials) and downstream (e.g. transportation of products or waste generated) activities.
On one hand, some of the main actions that Liveo Research is focusing on to achieve the Scope 1 and 2 targets include increasing the use of green energy and improving production efficiency at production sites. On the other hand, to achieve the Scope 3 target, Liveo Research is, among other measures, working closely with key suppliers to drastically reduce the carbon footprint of raw materials (such as PCR materials), reduce the amount of waste at production sites, and develop sustainable solutions in all business units to reduce waste and carbon footprint from design to end of life (e.g., “Cut The Waste!” services, One-Material Blisters, medical packaging with Post-consumer recycled content).
"We are very proud of this scientifically sound validation of our climate protection targets by the SBTi – this confirmation shows that we, as a comparatively small company, are taking on a pioneering role in climate protection and thus fulfilling our social responsibility," says Dr. Carsten Heldmann, CEO of Liveo Research. He adds: "Our detailed sustainability strategy and its consistent implementation in all areas of the company also show that we take our commitment to sustainability seriously overall."
For further details, please visit: https://www.liveoresearch.com