Climate change, increased emissions of greenhouse gases and scarcity of natural resources represent the greatest threats to our planet. The EU’s Green Deal and the Paris climate agreement provide for curbing the increase in the global average temperature to a maximum of 1.5° Celsius to limit negative effects on our planet.
All of us in the chemical industry must commit to deliver our goods and services in a sustainable way to protect our planet. At DOMO, we are taking proactive measures to this end. We are committed to achieving carbon reductions of -40% by 2030 compared to 2019.
At DOMO, we have defined our own ambitious milestones to reduce our impact on the environment ahead of regulatory mandates. This includes carbon reductions of 40% by 2030 compared to 2019, and 80% by 2040 and a 7% reduction in industrial waste. We also aspire to further transition our energy mix and increase the percentage of renewable electricity to 50% by 2030.
Our focus is on long-term investments to increase energy efficiency and recycling, as part of our decarbonization roadmap. Consequently, we are working closely internally and externally to develop a clear CO2 reduction program based on innovative projects to reach our carbon neutral business growth 2030 targets and to become climate-neutral by 2050.
This includes a clear approach to decreasing our carbon intensity to deliver on our strategic plan while achieving carbon neutral growth by:
- Monitoring and controlling our Scope 1 and Scope 2 CO2 eq. emissions
- Building the CO2 roadmap with customers
- Implementing CO2 reductions in our portfolio and investment decisions
We have always been committed to minimizing waste and maximizing the reuse of operational and industrial waste at DOMO. Raw materials and supplies are selected on this basis. In purchasing, we seek to ensure appropriate packaging and fully recyclable transport equipment. New plants are designed to be as close as possible to zero waste, with safety of reuse, recycling and disposal always ensured.
We optimize raw materials consumption and waste management according to circular economy principles to ensure maximum recovery of waste that can be recycled or incinerated. We have committed to reduce our industrial waste generation by 7% by 2030.
The chemical industry is a big user of electricity and natural gas. As part of this industry, we continue to invest in technologies at DOMO to optimize production processes and improve heat management. As a fully integrated producer of polyamides, we are transitioning to renewable energy usage that considers production, lab management, maintenance, logistics, administration, as well as research and development.
We have already begun to transition our plants to use more green electricity in our operations to help reduce our emissions. Besides an increasing share of renewable energy, we are focused on long-term investments in technology to increase the energy efficiency of our sites.
Current initiatives include waste biomass as fuel, wind power purchase agreements, low carbon hydrogen and hydropower certificates. As a next step, we are exploring and have already announced green hydrogen projects such as with Hynamics to replace natural gas for steam production across our sites.
DOMO is pursuing a strategy of sustainable value growth and strives to be, by 2030, a benchmark in sustainable development and social responsibility, and be recognized among the best in the industry.