The Science Based Targets initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Croda is one of the few companies within the specialty chemicals sector to commit to Science Based Targets (SBT), with the aim of restricting global warming to 1.5°C above the pre-industrial average. With reductions in greenhouse gas emissions (GHG) a priority, Croda has already established group targets to achieve a 50% reduction in absolute GHG emissions based on 2006 levels by 2030 and an 80% reduction by 2050.
With more than 60% of the company’s raw materials already coming from bio-based sources, an industry leading position, Croda maintains it is well positioned to not only reduce its GHG emissions, but to become “Climate Positive.” This ambitious target will focus on the use of more bio-based raw materials, and also through the ongoing work that Croda is undertaking to quantify the carbon savings derived from products as they are used by customers and the end consumers. In 2018, more than 700,000 tons of GHG emissions were avoided through just four of Croda’s products in application, according to the company. For example, Croda’s Coltide Radiance extends the lifetime of clothes, avoiding additional carbon and water intensive manufacture.
“We are proud to be one of around 600 companies taking science-based climate action and reducing greenhouse gas emissions by committing to Science Based Targets,” said Terry Thistlethwaite, vice president of sustainability at Croda. “Our business purpose is to use Smart Science to Improve Lives, this is just one area where we are pushing ourselves and supporting our customers to have a positive impact on the planet and society. We will continue to lead the specialty chemicals industry with our approach to sustainability.”