Following a resolution by its executive board, German packaging and bottling manufacturer Krones is aiming to reduce its greenhouse gas emissions to net zero by 2040 along its entire value chain.
Following the standard of the Science Based Targets initiative (SBTi), the Krones Group intends to cut its greenhouse gas emissions by 90% along the entire value chain (Scopes 1 to 3) and neutralise the remaining 10% by 2040.
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By GlobalDataThe base year for the updated long-term and near-term targets is 2019, which has already been validated by the SBTi.
The reduction target specified in the company’s previous climate strategy was 25% compared to the base year 2019. It has now been raised to 30%. For Scopes 1 and 2 (covering in-house emissions), the 80% reduction target remains unchanged. Scope 3 covers the result of activities from assets not owned or controlled by an organisation but indirectly affected in its value chain.
Krones submitted its net zero target to the SBTi in early April 2024, and the Krones sustainability team expects final validation to be issued by the autumn.
The company’s head of sustainability Martina Birk explained: “Our decision represents the end of a comprehensive review of all the sustainability targets we’d set ourselves. This revealed that we also have to specify more stringent targets for the medium term up to 2030.”
Krones CEO Christoph Klenk added: “In view of the latest forecasts issued by climate researchers, each and every one of us needs to know that our planet has reached a dangerous turning point.”
Krones is also a member of the Business Ambition for 1.5°C campaign launched by the SBTi.
In 2023, the company was given an A rating by the CDP [the country’s corporate environmental action tracker] in the category of climate change and its current EcoVadis scorecard award [which shows sustainability ratings for global supply chains] is gold.
In January 2024, Krones acquired Switzerland-based injection moulding machine supplier Netstal.
