By implementing its MissionZero programme to achieve these targets, the company will help keep global warming below 1.5°C at the same time as delivering solutions to help reduce global CO2 emissions by more than 10% – and becoming carbon neutral in its operations by 2030.
Commenting on the targets, CEO Thomas Schulz said: "I truly believe that the global climate challenge more than anything will find its solution in technology, and as a technology leader FLSmidth is uniquely placed to address this. By setting these targets, we commit to deliver solutions to our customers to reduce emissions.
"We've already communicated strong sustainability ambitions through the MissionZero programme and, with our Science Based Targets commitment, we will further accelerate these and get a clear picture on how we're progressing with our MissionZero goals, by having specific numbers on reductions to commit to and meet year on year."
In November 2019, FLSmidth announced its new sustainability ambition, as defined in the MissionZero programme. In short, the programme aims to provide zero-emission technology to the mining and cement industry by 2030, enabling a potential 10% reduction in the world's CO2 emissions.
The Science Based Targets cover the company's emissions throughout the value chain – from its operations, from its supply chain and, most prominently, from its customers. The latter account for > 95% of its emissions.
According to the Science Based Targets pledge, by 2030 FLSmidth will:
- Be carbon-neutral in its operations
- Have 30% of its spend with suppliers with similar decarbonisation targets
- Cut customer-associated emissions per revenue by 56%, or 7% year on year
These goals are on top of the MissionZero ambition to provide zero-emission technology to the mining and cement industries by 2030.
"We need to operate with multiple goals to reach our CO2 reduction ambition. The MissionZero goals aim at providing sustainable solutions on the shelves of the FLSmidth shop by 2030 at the latest, whereas the 56% reduction ensures that these solutions actually get to the market and drive a green transition there. Many of our customers have set carbon neutrality targets for 2050. In order to achieve these, the solutions need to be available already by 2030. Finally, our carbon neutrality ambition for our operations by 2030 will ensure that we 'walk the talk' internally as well," adds Schulz.
To achieve these ambitious Science Based Targets, FLSmidth will:
- Work in partnership with its customers to improve their sustainability performance with FLSmidth's flagship solutions
- Accelerate investment in sustainability-related R&D and engage in strategic industry and university partnerships around the world to develop new solutions
- Invest in renewable energy for its operations
"We congratulate FLSmidth on setting science-based targets consistent with limiting warming to 1.5°C – the most ambitious goal of the Paris Agreement," says Alberto Carrillo Pineda, director, Science-Based Targets at CDP, one of the Science Based Targets initiative partners. "By aligning its goals with a 1.5°C future, FLSmidth is ensuring it builds resilience firmly into its business model and strengthening its MissionZero programme that will help reduce emissions in hard-to-abate sectors."
