Siegwerk, a provider of printing inks and coatings for packaging applications and labels, has signed the commitment letter for the Science Based Targets initiative (SBTi).
The SBTi calls on companies to demonstrate their commitments to mitigating climate change by publicly pledging to reduce their greenhouse gas emissions with science-based targets. A target is considered science-based if it is in line with the level of decarbonization required to keep the global temperature increase below 1.5°C compared with preindustrial levels.
The Science Based Targets initiative is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund For Nature (WWF). It has already signed up more than 4000 companies.
Siegwerk is committed to setting science-based targets as well as net-zero targets, including a long-term science-based target. The company is expecting to submit these targets to the SBTi in the first half of 2023. In doing so, Siegwerk will be part of the Business Ambition for 1.5°C campaign and the Race to Zero campaign, aiming to reduce emissions in line with a trajectory to keep global temperature increase to 1.5°C.