Orbia Commits To 1.5°C Emissions Reduction Target To Limit Climate Change Impact
MADRID, Dec. 12, 2019 /PRNewswire/ -- Orbia (BMV: ORBIA), a global leader in specialty products and innovative solutions, today announced its commitment to setting 1.5°C science-based emissions reduction targets that are aligned with a net-zero future in an effort to limit the worst impacts of climate change. Orbia's alignment with these science-based reduction targets reflects the company's ongoing commitment to advance life around the world.
"At Orbia, we endeavor to increase our disclosures, further understand our footprint and assess our risk, thinking about our climate and sustainability commitments in terms of both serious science and societal wellbeing, as well as what makes business sense," said Daniel Martínez-Valle, CEO of Orbia. "Setting these science-based targets to reduce emissions will ensure that we are accountable, and we are proud to join other participating companies in leading the fight against climate change."
A recent report by the Intergovernmental Panel on Climate Change (IPCC) released last October indicated that global temperature increases need to be limited to within 1.5°C above pre-industrial levels. This past June, global leaders issued an open letter challenging Chief Executive Officers to set ambitious targets for their companies in line with the IPCC's report. Orbia responded by committing to setting science-based targets for emissions reduction, utilizing criteria established by the Science Based Targets initiative (SBTi), which independently assesses corporate emissions reduction targets against scientific best practices.
"Global companies have an important responsibility to take action to limit climate change, and this pledge is a powerful expression of that commitment," said Gonzalo Muñoz, High-Level Climate Action Champion. "Orbia's leadership is an example to other global companies, sending a strong message that encourages collaboration to reduce emissions and combat climate change."
Orbia has previously conducted a study under the guidelines of the Task Force on Climate Related Disclosures (TCFD) and has been reporting to the CDP for three consecutive years. Additionally, in 2020 the company will begin ongoing life cycle analysis on key products to better understand Orbia's environmental footprint beyond its production processes, including greenhouse gas emissions. By joining the SBT initiative, Orbia will ensure that the company's low-carbon transformation is aligned with climate science, helping prevent dangerous climate change and giving the business a competitive advantage in the transition to a low-carbon economy.
Through its recently unveiled ImpactMark, Orbia is also measuring progress against the company's impact on planet, people and profit. In lieu of a static logo, the ImpactMark charts the company's progress towards reducing greenhouse gas emissions, reducing waste, increasing women in management, upskilling the company's workforce, evolving into an innovative solutions provider, and optimizing investments. It will be updated each year to reflect the latest data, demonstrating progress toward the company's ambitious goals over time.
Building products and solutions that advance life around the world is not new to Orbia. Many of the company's current solutions are already powerful counters to climate change. Precision and drip irrigation help reduce deforestation and methane emissions, while new propellant Zephex®152a will bring about a greater than 90 percent reduction in inhaler carbon footprints compared to current metered-dose inhalers (MDIs). Orbia's digital heat interface unit for end users in district heating systems, Calefa, enables savings of 40 percent or more on standard energy bills. Many of the company's pipes and conduit products can be re-utilized without having to open the ground and Wavin UK, part of Orbia's community of companies, is now powered with renewable energy.
For more information about Orbia, please visit www.orbia.com.
To learn more about how science-based reduction targets can effectively limit the impact of climate change, please visit unglobalcompact.org/OurOnlyFuture.
About Orbia
Orbia (BMV: ORBIA) is a community of companies bound together by a shared purpose: to advance life around the world. Orbia's business groups have a collective focus on ensuring food security, reducing water scarcity, reinventing the future of cities and homes, connecting communities to data infrastructure, and expanding access to health and wellness with advanced materials. The business groups include Precision Agriculture, Building and Infrastructure, Fluor, Polymer Solutions, and Data Communications, which collectively pursue human-centric solutions to global challenges. A global leader in specialty products and innovative solutions across multiple sectors of industry and commerce, from agriculture and infrastructure to telecommunications, healthcare and more, Orbia has commercial activities in more than 100 countries and operations in 41, with global headquarters in Mexico City, Boston, Amsterdam, and Tel Aviv.
Media Contact:
Andrea McLoughlin, KWT Global
647-490-6602
[email protected]
SOURCE Orbia
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