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Solvay commits to reducing CO2 emissions by 40%
27
Nov '15
Solvay has committed to reduce CO2 intensity of its operations by 40 per cent by 2025 and to achieve this ambitious objective, Solvay will step up its Solwatt energy efficiency program.

Additionally, it will continuously optimise its industrial processes, develop clean technologies and increase the share of renewables in its energy production and supply.

“Furthermore, as of January 1, 2016, Solvay will apply an internal price for CO2 emissions at 25 euros per ton, to take into account climate challenges in its investment decisions,” a press release said.

The company will also try to generate 40 per cent of revenues with solutions addressing the challenges of sustainable development and will use its 'Sustainable Portfolio Management' analysis tool to identify opportunities in this field.

Innovation projects will focus on developing new light weighting solutions for cars and airplanes as a way to reduce CO2 emissions or on advanced ingredient formulations for the agricultural sector.

Solvay will also halve the number of accidents at work as safety at work for Solvay's 26,000 employees and contractors will remain an absolute priority.

“Although the Group's performance as measured by the frequency rate of accidents with lost time, places Solvay among the best of its sector peers, we want to go further and halve the number of accidents recorded on our sites,” it informed.

The company will also raise the commitment of employees to 80 per cent from 75 per cent in 2015 and also double the number of Solvay employees involved in societal projects.

Solvay added that it is committed to its local communities and in 2014 alone, it led more than a thousand local community actions.

“We aim to strengthen this commitment by facilitating the involvement or our employees in projects that serve the community and by offering Solvay's expertise to regions where the Group is present,” Solvay stated.

Solvay's executive committee will regularly steer and review these commitments and they will be communicated to its stakeholders, similar to the Group's financial performance.

"At Solvay we are driven by trust in progress, promoting science and the on-going concern for responsibility. The challenge of more sustainable development is just as much an opportunity for us to invent tomorrow's world," said Jean-Pierre Clamadieu, CEO of Solvay. (AR)

Fibre2Fashion News Desk – India

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