Croda International announced ambitious new climate goals validated by the Science Based Targets initiative (SBTi). According to the company, these updated targets underscore its commitment to helping customers decarbonize and align with the latest climate science.
Building on Croda's 2021 achievement as one of the first major chemical companies to secure SBTi validation, the company announced it has made significant progress toward its initial goals. The company has also expanded its focus to include land-related emissions, aligning with the latest SBTi Net Zero Standard and Forest, Land and Agriculture (FLAG) Guidance.
Science Based Targets By 2030
By 2030, Croda aims to achieve:
- 42% reduction in absolute Scope 1 and 2 GHG emissions – emissions from its own operations;
- 25% reduction in absolute Scope 3 GHG emissions – value chain emissions upstream and downstream; and
- 30.3% reduction in absolute Scope 3 FLAG GHG emissions – land-related emissions upstream.
An Eye Toward 2025
Additionally, SBTi has validated Croda’s Net Zero target for 2050, reinforcing the company’s long-term commitment to climate action. These targets are reportedly deeply integrated into Croda’s business strategy, enabling the company to not only reduce its own environmental footprint, but also support customers in achieving their decarbonization goals.
Phil Ruxton, chief sustainability officer at Croda, commented: “Acting to reduce the impacts of our value chains on planet and society is core to Croda’s Purpose. Since launching our commitment in 2020, we have met our major public milestones, on the way to delivering decarbonization targets aligned with climate science."
Ruxton added he is particularly excited to connect Croda's approach to decarbonization with contributing to a Nature Positive world through the new FLAG target and commitment to deforestation-risk free supply chains for our customers.
Committed to a Low Carbon Economy
"These validated targets confirm our desire to play our part in transitioning to a low carbon economy," he added. "We encourage our peers, suppliers and partners to join us in adopting net zero science-based targets aligned with 1.5°C, driving the rapid and deep emissions reductions needed to combat climate change.”
