Nutreco has joined the global ranks of 850 other leading companies by signing a letter of commitment with the Science Based Targets Initiative (SBTI) indicating that the company will work to set a science-based emission reduction target. A global collaboration between CDP, the World Resources Institute, World Wide Fund for Nature and the United Nations Global Compact, the SBTI champions science-based target setting to boost companies’ competitive advantage in the transition to a low-carbon economy.
“The SBTI is helping companies to align their carbon reduction strategies with the objectives of the 2015 Paris Agreement, and we’re pleased to join the initiative, together with other companies that are leading the way,” said Nutreco CEO Rob Koremans. “We are working to set realistic yet ambitious reduction targets and plan to submit them for SBTI approval before the end of the year.”
According to the SBTI process, companies first publicly commit to setting Science Based Targets (SBT). After that, they have two years to set reduction targets for Scope 1, 2 and 3 CO2 emissions: Scope 1 relates to energy generated on-site, Scope 2 relates to energy purchased and Scope 3 covers energy use that takes in the supply chain. Finally, participating companies pledge to report on their progress annually.