Feralpi Group, one of the leading players in the European steel industry, has received approval from the Science Based Targets Initiative (SBTi) for its ambitious CO2 emission reduction targets by 2030. This recognition confirms the company’s commitment to a more sustainable, low-emission future.
Founded through collaboration between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact, WRI (World Resources Institute), and WWF, the SBTi is one of the most authoritative scientific institutions in the field of sustainability. Its primary aim is to help companies adopt ambitious targets for climate change mitigation and to guide them in the transition to a low-carbon economy.
ESG Strategy and Environmental Goals
As part of international sustainability goals, Feralpi has integrated an ESG strategy aimed at combating climate change. In line with the agreements from the COP 21 in Paris, the company has defined and submitted its interim targets to the SBTi, receiving approval for its actions consistent with these agreements.
The specific targets include a 50% reduction in scope 1, 2, and 3 emissions related to hot-rolled steel production by 2030 compared to 2022 levels. Additionally, Feralpi is committed to reducing scope 3 emissions from the purchase of goods and services, fuels and energy, transportation and distribution, waste generated during production activities, and processing of sold products by 25%.
Core Boundary: A Standardized Approach
To ensure consistency in emissions calculations across the entire steel supply chain, the SBTi has introduced the concept of Core Boundary, a framework that includes the most significant emissions from the production chain. This allows different types of companies in the steel sector to set scientifically-based and comparable targets.
All targets set by Feralpi have been deemed aligned with global efforts to keep temperature increases below 1.5 °C compared to pre-industrial levels.
Decarbonization Plan
To achieve these ambitious goals, Feralpi has developed a detailed plan that includes several key measures:
- Renewable Energy: Increasing the use of renewable energy sources through self-production and the purchase of green electricity, biomethane, and hydrogen.
- Raw Materials: Increasing the use of recycled raw materials with a lower carbon footprint and enhancing the use of rail transport.
- Production Efficiency: Significant investments in facilities to electrify the production cycle wherever possible, improving overall efficiency.
Official Statements
Giuseppe Pasini, President of the Feralpi Group, stated: “Companies have a direct responsibility in contributing to the reduction of global greenhouse gas emissions. Setting medium-term targets allows us not only to chart a clear course but also to take immediate action to achieve them. The SBTi approval confirms that our 2030 targets are scientifically sound.”
Importance of Science-Based Targets
Science-Based Targets are crucially grounded in the scientific guidance provided by the IPCC (Intergovernmental Panel on Climate Change). The SBTi emphasizes the importance for companies not only to set long-term targets like 2050 but also to establish concrete interim goals supported by immediately implementable action plans.
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