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At the centre of its new sustainability strategy, Domo Chemicals has made a commitment to reduce scope 1 and 2 greenhouse gas (GHG) emissions by 40 per cent by 2030 and 80 per cent by 2040 as against 2019, with a climate neutrality target by 2050 and increase electricity from renewable sources to 50 per cent by 2030 and 100 per cent by 2040.
Domo Chemicals has announced stronger sustainability targets which includes doubling the share of circular products in engineered materials sales by 2030 from today’s 10 per cent baseline.
At the centre of its new sustainability strategy, Belgium’s Domo Chemicals has made a commitment to reduce scope 1 and 2 greenhouse gas (GHG) emissions by 40 per cent by 2030 and 80 per cent by 2040 as against 2019, with a climate neutrality target by 2050 and increase electricity from renewable sources to 50 per cent by 2030 and 100 per cent by 2040.
Domo Chemicals has already made significant progress towards the first two targets, reducing CO2 emissions from 400 kilotons in 2019 to 350 kilotons, and increasing electricity from renewable sources from 4 per cent in 2019 to 10 per cent. The new targets demonstrate commitment to proactively drive climate protection and a circular economy along the entire value chain, making a significant contribution to the chemical industry’s ambitions to achieve global CO2 reductions.
“We will achieve GHG emissions reductions through various initiatives that include partnerships, new recycling technologies, and significant investment in feedstock availability. We will invest in energy efficiency and renewable energy while waste fuels and biomass improvements will complete the CO2 reduction plan,” the company said in its sustainability report.
“In recycling, we are aiming for process improvements with our “Move4Earth” feedstock, including dissolving technologies, chemical recycling, and recycling from production waste. Further details will be announced at K 2022 in October. DOMO’s low carbon footprint solutions, including the TECHNYL 4EARTH brand with industry-leading recycling technology, all contribute to our customers’ CO2 reduction ambitions,” the release added.
On July 13, the company released its first sustainability report covering the 2021 reporting year, underscoring the priority of the company’s investment in this area. Highlighting their journey over the past year, the report showcases current engagement and plans for the sustainability targets and long-term ambitions in the challenging areas of planet care, responsible employer, and being a partner of choice.
Fibre2Fashion News Desk (RR)
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