Ontex Climate Action Targets Approved by SBTI

Source [ad_1] AALST, Belgium--( BUSINESS WIRE )--Regulatory News:

Ontex [Euronext: Ontex], a leading provider of personal hygiene products and services in more than 110 countries, applauds that the Science-Based Targets Initiative (SBTI) has approved its climate action targets. SBTI confirms that the Ontex climate targets are consistent with the latest climate science needed to achieve the goals of the Paris Agreement - limiting global warming to well below 2°C above pre-industrial levels and continuing efforts to limit warming to 1.5°C. SBTI is a collaboration between the United Nations Global Compact, the World Wide Fund for Nature, the World Resources Institute and the Carbon Disclosure Project.

Lowering greenhouse gas emissions across the value chain Ontex will reduce its own greenhouse gas emissions (absolute Scope 1 and Scope 2 emissions*) by 80% by 2030 compared to a 2020 baseline. Ontex also commits to increase annual sourcing of renewable electricity from 75% in 2020 to 100% by 2030. In addition to the SBTI-approved target, Ontex aims to achieve zero emissions by 2030 by offsetting the remaining emissions from its operations.

Ontex also commits to reducing greenhouse gas emissions from purchased goods and services, upstream transportation and distribution, and disposal of used products by 25% from a 2020 baseline by 2030 (absolute Scope 3 emissions). Ontex aims to reduce carbon emissions in its supply chain by working with its suppliers and focusing on sustainable product design and more efficient transportation.

Essential to long-term business success "By aiming for carbon neutral operations in 8 years, we want to contribute to keep global warming under control. Achieving our climate goals is essential to our long-term business success and aligns with our corporate purpose," said Esther Berrozpe, CEO of Ontex. "Ontex will have more opportunities to innovate and become more competitive in an economy that is moving ever faster to zero carbon, especially in our core markets," said Annick De Poorter, Executive Vice President Innovation and Sustainability at Ontex.

Early success towards 2030 : 91% of the electricity used in Ontex’s factories comes from renewable sources Ontex is committed to keeping global warming below 1.5°C through energy savings, on-site renewable energy generation, purchasing energy from renewable sources and offsetting carbon emissions through reforestation projects. Through energy savings and other measures, Ontex has already reduced its own carbon emissions (Scope 1-2 emissions) by 40% in 2021 compared to 2020. 91% of the electricity Ontex uses to power 18 factories on 5 continents comes from renewable sources. This includes in-house power generation with rooftop solar installations in Spain, Belgium and Mexico, as well as a new solar installation in Italy, the largest solar installation in the country for on-site power consumption. Ontex is also committed to reducing the impact of emissions caused by the incineration of used diapers and is implementing compostability projects for its diaper pads.

*The target includes biogenic emissions and removals from bioenergy feedstocks.

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About Ontex

Ontex is a leading international provider of personal hygiene solutions, with expertise in baby care, feminine care and adult care. Ontex’s innovative products are distributed in more than 110 countries through leading retailer brands, lifestyle brands and Ontex brands. Employing some 9,000 people all over the world, Ontex has a presence in 21 countries, with its headquarters in Aalst, Belgium. Ontex is listed on Euronext Brussels and is part of the Bel Mid®. To keep up with the latest news, visit ontex.com or follow Ontex on LinkedIN, Facebook, Instagram and YouTube.

About the Science-Based Target Initiative (SBTI)

The Science-Based Target Initiative (SBTi) is a climate action partnership between Carbon Disclosure Project (CDP), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Climate targets are considered ‘science-based’ if they are in line with what the latest climate science deems necessary to meet the goals of the 2015 Paris climate agreement – limiting global warming to well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C.

https://sciencebasedtargets.org/companies-taking-action

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