EQS-News: SIMONA signs Commitment Letter of the Science Based Targets initiative

Demonstrating its firm commitment to a sustainable and low-carbon future, SIMONA has officially announced its participation in the Science Based Targets initiative (SBTi). 

The SIMONA Group has established its intent to take concrete measures aimed at validating its pathway to CO2 reduction. This includes reducing Scope 1 and Scope 2 emissions by an average of 5.25 per cent per year by 2030 in line with the Paris Agreement and thus achieving "net zero" status by 2050. By participating in this initiative, the company is demonstrating its ambition to take a leading role in environmental protection and sustainable business and is committed to ensuring that its long-term climate targets meet the SBTi's high scientific standards.

The commitment to the Science Based Targets initiative represents a significant milestone for the SIMONA Group in its efforts to ensure that the company's carbon footprint is reduced effectively, thereby making a positive contribution to global climate change mitigation. The Management Board of SIMONA AG stresses the importance of this decision: "The challenges associated with climate change call for collective efforts and clearly defined objectives. Our involvement in the Science Based Target initiative reflects our commitment to environmental responsibility and to setting long-term, quantifiable and science-based targets."

The SBTi is a collaboration between the global not-for-profit environmental organisation Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). It was established in 2015 for the purpose of supporting companies in defining emission reduction targets in line with the latest climate science and the objectives of the Paris Agreement, the aim being to limit global warming to 1.5 degrees above pre-industrial levels. The initiative calls on companies to set science-based climate targets as a basis for gaining a competitive advantage in a carbon-free economy. It defines best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.