VPK Group invests proactively in a CO2-free economy
By committing to the Science Based Targets initiative (SBTi) Net-Zero Standard, the VPK Group - to which Smart Packaging Solutions belongs - has taken an important step in its climate policy. In doing so, the VPK Group is not only proactively investing in innovative solutions for a low-carbon economy, but tangible climate targets have been set to achieve net-zero greenhouse gas emissions throughout the value chain by 2050, with the aim of limiting global warming to 1.5°C.
What are Science Based Targets (SBT)?
Science Based Targets (SBT) are objectives based on scientific analyses of a company’s emissions and reduction plans. Using these targets, a company can assess whether the targets set are sufficient to meet the goals of the Paris Climate Agreement. This agreement states that global warming must be limited to well below 2 degrees, preferably to no more than 1.5 degrees.
The SBTi is a collaboration between CDP, the United Nations Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF), and it calls for action as part of the commitments of the 'We Mean Business Coalition', which sets and formally endorses science-based targets.
VPK Group gradually switches to renewable energy
Meeting the ambitious targets requires a robust CO2 reduction plan covering all three emission ranges, with strategic investments in renewable energy and decarbonisation projects. The VPK Group is gradually switching to renewable energy sources at all its sites, including biomass, cogeneration, photovoltaic plants, biogas and efficient use of recovered heat from production processes. In addition, initiatives are being taken to optimise infrastructure and machinery to minimise energy consumption.
The VPK Group has formally submitted its targets to SBTi for validation, scheduled to begin in March 2024, with an estimated validation process of three months. By committing to the SBTi Net-Zero Standard, the VPK Group demonstrates its pioneering role in sustainable operations and environmental management, and in doing so, acts as a role model for the entire industry.
VPK Group bears its responsibility
By embarking on this path to a net-zero future, the VPK Group not only increases its resilience to climate-related risks, but also contributes significantly to global efforts to create a more sustainable future for generations to come. For more information about SBTi, please visit their website.