Covestro Announces Climate Neutrality Targets for Scope 3 Emissions
Covestro has published its climate neutrality targets for scope 3 emissions, completing its climate strategy for reducing greenhouse gas emissions. As a short-term goal, the company plans to reduce greenhouse gases by 10 million metric tons by 2035. This corresponds to a drop in emissions of 30% compared to the base year 2021, with some growth-related emissions through 2035 included in the calculation. In the long-term, Covestro plans to be climate-neutral in terms of scope 3 emissions by 2050.
Covestro previously published ambitious targets for scope 1 and scope 2 emissions in 2022, which included achieving operational climate neutrality by 2035. Scope 1 emissions come from the company's own production processes, while scope 2 emissions result from purchased energy sources. Scope 3 emissions include all other greenhouse gases produced in the upstream and downstream supply chains. These make up around 80% of the company's total greenhouse gas emissions. Raw materials purchased by Covestro are responsible for the greatest share of scope 3 emissions.