Novozymes’ President and CEO, Peder Holk Nielsen, revealed today in an address at the U.N. Climate Action Summit, that Novozymes is among the first companies in the world to commit to keeping the temperature rise due to climate change below 1.5 degrees Celsius and have that commitment validated by the Science Based Targets initiative (SBTi).
“The heat is on – literally. To tackle climate change head-on, we need to limit global warming increase to 1.5 degrees Celsius and Novozymes is committed to that by providing the world with low-carbon, biological solutions while also reducing our own emissions,” Peder Holk Nielsen says. “Secretary-General Guterres has asked companies to come up with plans – not just speeches; here is one of the first, validated, and science-based commitments – backed up by a robust plan for action.”
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For many years, Novozymes has been introducing initiatives to cut down emissions at the world’s largest enzyme manufacturing facility located in Kalundborg, Denmark. Most recently, Novozymes’ partner, Ørsted, inaugurated a biogas plant, which uses biomass residues from Novozymes’ production to generate power – with a promise to slash annual carbon emissions by an estimated 17,000 metric tons.
Novozymes’ impact goes beyond its production alone, and the company must account for emissions that occur outside its boundaries. As part of the 1.5-degree commitment, Novozymes will monitor emissions across the value chain and work with its suppliers to reduce emissions from the raw materials that it purchases.
“This is not about Novozymes and one company only; we want to inspire others across our value chain to follow suit – and transparency is key,” says Peder Holk Nielsen. “We were one of the very first companies to document the carbon footprints of our products and demonstrate how biological solutions can enable customers across multiple industries and geographies to reduce emissions – and this is where we will continue to focus, enabling better business with biology”.
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Using biology to cut down emissions in transport
Transportation accounts for about 25% of total energy-related global CO2 emissions – and to limit global warming increase to 1.5 degree Celsius, the transport sector will also need to reduce emissions at a rapid pace. It will require a range of solutions, including low-carbon fuels. Novozymes has set a target to help the transport sector save 60 million tons of CO2 emissions in 2022 by enabling the production of bio-based, low-carbon fuels.
“I am proud to lead an organization that seeks to advance the global sustainability agenda – and hopefully inspire others to follow suit. Fewer speeches – and more action!,” Peder Holk Nielsen finishes.
Validating a commitment to 1.5 degrees
Novozymes has had its 1.5-degree Celsius target validated by an external body, the Science Based Targets initiative (SBTi).
The Science Based Targets initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
SBTi looks at a company’s historical emissions from operations and value chain, its industry profile, and verifies if its ambition is in line with the 1.5 degrees goal. If this is the case, through a comprehensive validation process, the target receives verification and is considered “science-based”.
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Novozymes’ President and CEO, Peder Holk Nielsen, is on the ground in New York – speaking at numerous events during Climate Week and the United Nations General Assembly, including the UN Climate Action Summit and Concordia Summit.
Holk Nielsen will talk about Novozymes’ climate ambitions, the validated commitment and how others should follow suit – and showcase the power of biology to help solve global challenges – including climate change, water scarcity, and enabling sustainable production and consumption.
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