The Saica Group has joined the international initiative SBTi (Science Based Targets initiative).
Saica now has 24 months to define short and long-term targets and submit them to SBTi for approval, in accordance with its rules. These targets are calculated on the basis of the gas emission reductions needed, according to existing models, to keep global temperature rise below 1.5°C compared to industrial-era temperatures, in line with the COP21 agreements (Paris 2015).
The short-term target, for which SBTi acts as an independent guarantor, should have a time horizon of 5 to 10 years. On the other hand, the initiative also encourages companies to set Net Zero targets in the longer term, a target that Saica Group has also joined for 2050.
In terms of the effort to be made, in a first phase Saica will focus on finding solutions to decarbonise its production facilities, thus attacking Scope 1 and 2 emissions to, in a second phase, involve the entire value chain to find solutions that minimise the impact of the supply Chain; this means attacking Scope 3 emissions related to transport, extraction and production of raw materials or end of life of waste, amongst others. Likewise, adherence to the initiative requires the Saica Group to publish its carbon footprint annually, so that its stakeholders can monitor progress towards the final target.
“One of the Priorities of the Saica 2025 Strategic Plan is ‘Orienting the business towards sustainable solutions that contribute to environmental protection and to the fight against a climate change’. This is why, in 2021, in Saica we set up a Decarbonisation Working Group, whose main objective is to find technological solutions that allow us to cover the energy needs of the Group’s factories, achieving the decarbonisation objectives for these facilities,” said Ramón Alejandro, Chairman, Saica Group. “The current situation, where the technology necessary for the intensive use of some of these new fuels is not yet developed, may force the abandonment of some of the projects initiated. In any case, at Saica, we are convinced that R&D&I has always been a competitive advantage, so we must continue with the necessary and sufficient efforts to achieve the objectives we have set ourselves.”