AkzoNobel receives SBTi approval for carbon reduction target

AkzoNobel’s commitment to setting science-based sustainability targets has now been officially validated by the Science Based Targets initiative (SBTi) – confirming its status as the first paints and coatings company to receive this endorsement.

The original announcement was made in July, when AkzoNobel followed up on its commitment to setting science-based sustainability targets by announcing carbon reduction targets for the full value chain.

Commenting on the latest development, CEO Thierry Vanlancker said: "We’re proud to be the first company in our industry to receive SBTi approval for our carbon reduction target. It’s a clear signal that we’re committed to taking stronger action to tackle climate change and will be an enormous innovation driver for what we do in our supply chain and with our customers.

"It means we’ve aligned our own sustainability ambitions with the Paris agreement, which aims to limit global warming and ensure that global temperature rise doesn’t exceed 1.5˚C above pre-industrial levels.”

The company has also followed up the recent SBTi approval by restating its 42% carbon reduction target (baseline 2020) across the whole value chain. It has now been increased to 50% by 2030 (baseline 2018). This brings it in line with the company’s carbon reduction ambition in its own operations and will further sharpen and accelerate the company’s vision for its own People. Planet. Paint. approach to sustainable business.

Added Vanlancker: "Successfully combating the impact of climate change is everyone’s responsibility. So we have to work with all our value chain partners to transition to lower/zero carbon alternatives. I also encourage our peers to commit to the SBTi by announcing their own targets and join us in setting the right example in our industry.”