Month: January 2024

A tenth of a degree may seem quite insignificant on a thermometer. When checking it out of the window, it may seem just a question of whether you should wear jeans or shorts today. However, globally, even a teeny-tiny change in average temperature can unleash a cascade of consequences, fuelling unpredictable and extreme weather events. The weather goes wild, and we’ve had a hand in it.

Back in 2015, countries worldwide united under the Paris Agreement, committing to reducing their greenhouse gas emissions to combat climate change and keep global warming below 2°C (ideally, aiming to limit it to 1.5°C). It was a global effort to tackle one of the greatest challenges of our time. And we’re eager to contribute.

The Science Based Targets (SBT) initiative has validated our greenhouse gas emission target for FY2030, confirming that it aligns with the scientifically based goal of limiting global temperature rise, as specified in the Paris Agreement. This marks a significant milestone in our sustainability efforts.

Why 1.5°C?

In 2021, the first volume of the Sixth Assessment Report of the UN Intergovernmental Panel on Climate Change (IPCC) was published and it became clear that global warming goes faster and more intense than expected. If anthropogenic greenhouse gas emissions are not cut, the rate of global warming is expected to increase as well as the intensity of critical events. If the planet warms by 1.5°C, we will experience approximately 4 extreme weather events every 10 years, at 2°C – 5 or 6 extreme events, and at 4°C – we will have them every year.

Our GHG Reduction Targets

As part of our Sustainable Value Plan 2030, we’ve set ambitious GHG emission reduction targets that serve as a core pillar of our commitment to addressing climate change and contributing to a more sustainable future. We aim to reduce greenhouse gas emissions from our operations and across the entire product lifecycle by 50% compared to FY2019 levels.

Under the Green Value Climate Strategy, we aspire to minimize our environmental impact by promoting production activities with lower carbon footprints and delivering top-notch products and services with outstanding environmental performance. This strategy reflects our commitment to addressing environmental and social issues and creating long-term value for both society and the planet.

Why is it important?

When burning fossil fuels like coal, oil, and gas for energy, greenhouse gases are released into the atmosphere. These gases serve as a barrier, trapping heat from the sun and keeping it within the atmosphere, similar to how a blanket keeps us warm at night. It’s one of the basic things that makes our life on the Earth possible. However, there can be too much of a good thing. Human activities release excessive amounts of greenhouse gases, resulting in well-known greenhouse effect and global warming. It ruins natural weather patterns. You may have already witnessed snow in summer or extremely high temperatures as well. But more than that, it causes disasters like droughts, floods, or hurricanes. Glaciers melt, the sea level rises, water absorbs more CO2 and goes more acidic, harming the marine life and ruining entire ecosystems.

These consequences have far-reaching impact and we may face bigger challenges if we don’t take action. That’s why it’s crucial to reduce greenhouse gas emissions and improve energy efficiency. By understanding the impact of our actions and aiming at more sustainable choices, we have the power to limit the effects of greenhouse gas emissions. And together, we can make a positive difference, working towards a safer future for ourselves and new generations.