We have planned employ various strategies to capture improvements to our carbon footprint and conduct lifecycle assessments. Here are some common approaches:
1. Carbon Footprint Measurement: We plan to measure our carbon footprint by assessing the greenhouse gas (GHG) emissions associated with our operations, including but not limited to the following:
a. Direct emissions (Scope 1)
b. Indirect emissions from purchased energy (Scope 2)
c. Supply chains (Scope 3).
This measurement provides a baseline to identify areas for improvement.
2. Setting Targets: We have set targets to reduce our carbon emissions, such as adopting Science-Based Targets (SBTs) aligned with the goals of the “Paris Agreement”. These targets define specific and measurable objectives to reduce emissions within a given timeframe.
3. Renewable Energy Transition: We plan to shift to renewable energy sources to reduce our carbon footprint by installing solar panels, purchasing renewable energy certificates, or sign Power Purchase Agreements (PPAs) with MEDC to ensure a greater share of our energy consumption comes from renewable sources.
4. Energy Efficiency Measures: We are Implementing energy-efficient technologies and practices to help us reduce our energy consumption and consequently, our carbon emissions. This includes upgrading equipment, optimizing processes, and improving building insulation.
5. Sustainable Supply Chains: We assess and work with our suppliers to promote sustainability. This involves conducting lifecycle assessments and collaborating on emission reduction initiatives, waste management, responsible sourcing, and transportation optimization.
6. Product Lifecycle Assessments (LCA): We plan to conduct LCAs to evaluate the environmental impact of our products throughout their entire lifecycle, from raw material extraction to disposal. This assessment will help us to identify hotspots and opportunities for improvement, leading to eco-design, materials substitution, and waste reduction.
7. Circular Economy Initiatives: We plan to adopt circular economy principles to minimize waste generation and resource consumption. We plan to promote recycling, reuse, and remanufacturing, aiming to create closed-loop systems where materials and products are kept in circulation for as long as possible.
8. Reporting and Transparency: We will periodically report our sustainability performance, including carbon footprint and progress on emission reduction targets, through initiatives like the Global Reporting Initiative (GRI) and the Carbon Disclosure Project (CDP). This
enhances transparency and accountability, allowing our stakeholders to assess their environmental performance.
9. Innovation and Research: We will also be investing in research and development to explore innovative technologies, materials, and processes that have a lower carbon footprint. This can involve collaboration with external partners, universities, or research institutions to drive sustainability-focused innovation.
Overall, we will employ a combination of these strategies to capture improvements in our carbon footprint and conduct lifecycle assessments. By prioritizing sustainability and taking action to reduce emissions, we can contribute to mitigating climate change and promoting a more sustainable future.
Our Group’s Environmental Mission Statement: