IMCD Strengthens Commitment to Sustainable Practices and Targets
IMCD's Commitment to Sustainability and Emission Targets
IMCD N.V. has recently made significant strides in its decarbonization journey. As a prominent global distribution partner and formulator of specialty chemicals and ingredients, the company has pledged to commit to the Science Based Targets initiative (SBTi). This strategic decision reflects IMCD's dedication to setting near-term emissions reduction targets that align with the stringent criteria and recommendations of the SBTi.
Understanding the Science Based Targets Initiative
The SBTi is a pivotal force in corporate climate action, empowering companies and financial institutions worldwide to address the pressing climate crisis. The initiative aims to align corporate actions with the Paris Agreement, focusing on limiting global warming to a manageable level. By developing robust standards, tools, and guidance, the SBTi assists organizations in establishing credible greenhouse gas (GHG) emission reduction targets, facilitating meaningful and measurable environmental contributions.
IMCD's Strategic Approach to Carbon Reduction
In recent years, IMCD has made significant advancements in understanding its carbon footprint. This commitment to transparency has laid a solid foundation for the establishment of near-term emissions targets that are in accordance with the SBTi guidelines. IMCD recognizes the critical importance of these targets not only for the company but for the broader industries it serves.
Leadership's Vision
Valerie Diele-Braun, Chief Executive Officer of IMCD, emphasizes the company’s role in fostering a sustainable future: “At IMCD, we aspire to be a force of influence, helping to grow a world of opportunity into a sustainable future. With presence and teams in more than 60 countries, we are acutely aware of the potential impacts of climate change on the markets we serve. Our responsibility is to reduce our footprint and mitigate the impacts of our industry.”
The Upcoming Commitment Announcement
IMCD's commitment to the SBTi will be publicly announced on the SBTi website shortly. This marks a significant milestone for the company as it aims to share its plans and strategies to enhance sustainability. The announcement is eagerly anticipated by industry stakeholders and reflects IMCD's proactive stance towards climate responsibility.
Future Reporting on Decarbonization Efforts
The company continues to focus on its decarbonization journey, with further details slated to be shared in IMCD's 2024 Integrated Report. This report, scheduled for release soon, is expected to provide insights into the company's ongoing initiatives and progress in meeting sustainability goals.
About IMCD N.V.
Founded and headquartered in Rotterdam, The Netherlands, IMCD N.V. is a recognized leader in the global market for specialty chemicals and ingredients distribution. With a team exceeding 4,700 employees, IMCD has established itself as an expert solutions provider, dedicated to adding sustainable value to the supply chain. Every day, professional teams within the company focus on delivering unparalleled service through a commitment to commercial and operational excellence.
Revenues and Market Position
In the previous fiscal year, IMCD achieved remarkable revenues of EUR 4,443 million. The company remains committed to high standards of corporate governance and sustainability, as evidenced by its inclusion in the Dutch ESG AEX index. This positions IMCD as one of only 25 companies within the AEX and AMX indices that demonstrate exceptional ESG practices.
Frequently Asked Questions
What is the Science Based Targets initiative (SBTi)?
The SBTi is a global organization that helps businesses set science-based emissions reduction targets to align with climate goals, such as those outlined in the Paris Agreement.
Why is IMCD committing to SBTi targets?
IMCD aims to contribute positively to combat climate change and reduce its carbon footprint, aligning its practices with scientific recommendations for sustainability.
When will IMCD announce its SBTi commitment?
The commitment is expected to be published on the SBTi website soon, which will detail IMCD's targets and strategic approach toward emissions reduction.
How does IMCD plan to reduce its carbon footprint?
IMCD is developing near-term emissions reduction targets, enhancing carbon footprint visibility, and focusing on sustainable operations in all its markets.
What role does IMCD see itself playing in global climate efforts?
IMCD aims to be a driving force for sustainability, leveraging its influence in the industry to foster a better environmental future while meeting market needs.
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