Our Goals until 2050
We have already been pursuing the goal of reducing our emissions and CO2 footprint for several years. This has, for example, been done with the installation of photovoltaic systems, the introduction of an energy management system in accordance with DIN EN 50 001 and the energy-efficient construction of our new buildings.
In 2022, Lifocolor has pledged to achieve net zero emissions by 2050. With this, we are making a contribution to the achievement of the Paris Agreement which sets out to limit the increase in temperature by 2050.
Implementation follows guidelines of SBTi
The implementation follows the guidelines of the Science Based Target Initiative (SBTi). The science-based targets formulated there provide a clearly defined pathway for Lifocolor to reduce greenhouse gas emissions in order to prevent the worst effects of climate change and future-proof business growth.
The SBTi works, for example, in a partnership with important authorities which have co-developed the goals of the United Nations and the Paris Agreement. With this it represents a valid and internationally renowned assessment benchmark.
About our project management
Our defined goals indicate a clearly defined pathway for Lifocolor to reduce its greenhouse gas emissions. We determine our footprint according to the method outlined in the Greenhouse Gas (GHG) Protocol. The GHG Protocol is regarded as the most widely used greenhouse gas accounting standard and incorporates not only carbon dioxide (CO2) but also many other greenhouse gases.
Based on data from the starting year of 2019, we are gradually reducing emissions by 90 per cent by 2050. The goal of the first stage is to reduce the emissions which we have a direct influence on. These are described in Scopes 1 and 2. The declared goal is to reduce the emissions in these areas by 46 per cent by 2030.
Scope 3 involves the indirect emissions which Lifocolor has no influence on. These include emissions associated with the production of our raw materials, the transport of our goods and the creation of investment goods purchased by us, and more.