Novozymes has its net-zero target validated by the Science Based Targets initiative

11-Nov-2022

Today Novozymes has new, SBTi approved near and long-term science-based emission reduction targets and is one of the first companies in the world to have committed to SBTi’s new Corporate Net-Zero Standard by having a net-zero by 2050 science-based target verified by the SBTi

Novozymes has its net-zero target validated by the Science Based Targets initiative

 

Novozymes has renewed its climate targets and by 2030 will reduce its absolute CO2 emissions across its operation by 75% and reduce its absolute CO2 emissions from its supply chain by 35%. By 2050, Novozymes will reach net-zero.  

“Novozymes is dedicated to building a net-zero future and accelerating decarbonization across our value chain. As a global leader, we embrace our leadership responsibility by setting the tone and leading by example together with less than 100 companies – across sectors – in the world, who have now obtained validation of their long-term net-zero targets for scope 1, 2, and 3 by SBTi. My hope is that this will inspire others to act,” said Ester Baiget, President & CEO. 

Baiget continued: “We have a long history of bold sustainability commitments, and we are ready to take our commitments to the next level. We will reach net-zero by 2050 and we accelerate our 2025 renewable electricity target. And our work to reduce carbon emissions from our operations goes beyond shifting to renewable electricity. We are also introducing efforts to – where possible – give back parts of our excess industrial heat to our local communities.”

 Novozymes validated targets

While more than 2,000 companies have SBTi commitments, less than 100 companies have a net-zero science-

based target verified by SBTi in per November 10th, 2022. Novozymes is one of them and is committed to SBTi’s new Corporate Net-Zero Standard by having a net-zero by 2050 science-based target verified by the SBTi.

Novozymes commits to reach net zero GHG emissions across the value chain by 2050 from a 2018 base year. Near-Term Targets: Novozymes commits to reduce absolute scope 1 and 2 GHG emissions 75% by 2030 from a 2018 base year. Novozymes also commits to increase annual sourcing of renewable electricity from 37% in 2018 to 100% by 2025. Novozymes further commits to reduce absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation and distribution, waste generated in operations and business travel 35% by 2030 from a 2018 base year. Long-Term Targets: Novozymes commits to reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2018 base year.

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Novozymes also commits to reduce absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation and distribution, waste generated in operations and business travel 90% within the same timeframe. The targets boundary includes biogenic emissions and removals associated with the use of bioenergy.

  1. Direct emissions reductions (decarbonization) will be prioritised, and all residual emissions will be neutralised (if applicable) in line with SBTi criteria before reaching net-zero emissions.
  2. The total amount of scope 3 emissions is larger than scopes 1+2. Combined, 75% in scopes 1+2 and 35% in scope 3 is equivalent to 50% reduction across scope 1+2+3.

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