SUSTAINABILITY

GHG Emissions

CO2 FOOTPRINT REDUCTION / DECARBONIZATION PLAN

Climate change has been identified as one of the greatest challenges facing nations, governments, business, and citizens over future decades. Climate change has implications for both human and natural systems and could lead to significant changes in resource use, production, and economic activity. In response, international, regional, national, and local initiatives are being developed and implemented to limit greenhouse gas (GHG) concentrations in the Earth’s atmosphere. Such GHG initiatives rely on the quantification, monitoring, reporting and verification of GHG emissions and/or removals, which could be done within the framework of ISO 14064.To take responsibility COINDU set itself an ambitious goal:

Target 1 – by 2050: 80% reduction in Scope 1 emissions

COINDU has the long-term objective of 80% reduction in Scope 1 emissions, comparing to base year emissions (2019) by 2050. This objective is a company-wide target, considering all four COINDU facilities and includes 100% of Scope 1 emission sources. The plan to achieve this target is based on the electrification of the internal fleet and the substitution of stationary sources for more efficient ones and/or using cleaner fuels.

In the reporting year (2022) a 26,4% of the target was achieved, related to base year (2019).

Target 2 – by 2030: 80% reduction in Scope 2 emissions

Regarding Scope 2 emissions, the objective is to achieve an 80% reduction in Scope 2 emissions, considering the market-based method, by 2030, comparing to base year emissions (2019). This target includes all scope 2 emissions from all COINDU facilities. The plan for achieving the target implies the acquisition of green electricity (which started in 2022) and implementation of reduction energy efficiency measures. Also, on-site renewable energy production using photovoltaic panels is being implemented.

Additionally, the implementation of ISO 50001 is under evaluation, which will make possible the analysis of energy consumption in greater detail and allow to define and implement measures to reduce energy consumption.

In the reporting year (2022) a 55,3% of the target was achieved, related to base year (2019).

Target 3 – by 2050: 90% reduction in Scope 1 + Scope 2 emissions

Taking into consideration the two previously mentioned targets COINDU set a joint Scope 1 and Scope 2 reduction target of 90% comparing to base year emissions by 2050. The target includes all emissions from Scope 1 and Scope 2 from all COINDU facilities. This target will be achieved as a result of the implementation of the target 1 and target 2 measures.

Those goals can be achieved only by systematically avoiding and reducing GHG emissions internally on the facilities infrastructure and within the entire supply chain. In line with this concern, COINDU together with a specialised partner, carried out a study to calculate its Carbone Footprint expressed in tonnes of CO2 emitted in order to adopt and implement the necessary measures to reduce it as much as possible.