Specialist chemicals supplier Croda has pledged to cut its greenhouse gas emissions by 80 per cent by 2050.
The FTSE 100 business, headquartered in East Yorkshire, has become one of the few companies within the specialist chemicals sector to sign up to the Science Based Targets programme.
The initiative, a collaboration which includes the United Nations and World Wide Fund for Nature (WWF), providers businesses with targets to reduce their emissions, and how quickly they must do it by.
Croda is now committed to reducing its emissions – based on 2006 levels – by half by 2030, and by 80 per cent by 2050.
It comes as the UK Government challenged the country to become net-zero for carbon emissions by 2050.
Terry Thistlethwaite, vice president of sustainability at Croda, said: “We are proud to be one of around 600 companies taking science-based climate action and reducing greenhouse gas emissions by committing to Science Based Targets.
Our business purpose is to use Smart Science to Improve Lives, this is just one area where we are pushing ourselves and supporting our customers to have a positive impact on the planet and society.
“We will continue to lead the speciality chemicals industry with our approach to sustainability.”
With more than 60 per cent of Croda’s raw materials already coming from bio-based sources, the FTSE-listed business believes it is well positioned to not only reduce its emissions, but to become ‘Climate Positive.’
The new ambitious target will focus on the use of more bio-based raw materials, and also through the ongoing work which Croda is undertaking to quantify the carbon savings derived from its products as they are used by their customers and the end consumers.
In 2018, over 700,000 tonnes of greenhouse emissions were avoided through just four of Croda’s products in application.
Croda’s Coltide RadianceTM, for example, extends the lifetime of clothes, avoiding additional carbon and water intensive manufacture.
Croda recently announced the acquisition of energy efficiency specialist Rewitec GmbH for an undisclosed fee.
Rewitec specialises in products which improve the efficiency and lifespan of wind turbines and other machinery.
Its team will now form part of Croda’s Performance Technologies business.
Maarten Heybroek, president of Croda Performance Technologies, said: “We are delighted to bring the products and expertise of Rewitec into the business.
“With their speciality ingredients offering high performance and sustainable benefits in use, they are a natural fit.
“Together, we are extending our leadership in friction and wear management. We see many new opportunities for their technologies within existing and new markets, such as marine lubrication where the performance of their ingredients has already been proven.”
