(Friday 14th July) Analysis by ShareAction of EMS-Chemie's sustainability report today reveals that the chemicals giant is on track to increase its overall carbon emissions by more than 20% over the next ten years. Far from setting out how they intend to reduce planet damaging emissions, their sustainability report reads more like a polluter’s charter for business as usual.
By analysing the report’s data, ShareAction found that while the company claims it is committed to global climate protection and to have set a net-zero emissions by 2050 target, the metrics used to calculate their interim target in ten years’ time were packed full of loopholes. In addition, its net-zero target fails to cover 99% of its own emissions. The company serves industries across the world ranging from automobiles to electronics.
Penny Fowler, Head of Corporate Climate Campaigns at ShareAction, said:
“It is an extremely odd sustainability strategy that sets out how a company will increase emissions over the next ten years rather than setting a pathway to reduce them. Yet EMS- Chemie has done exactly that by committing to a rise of close to 3 million tonnes of absolute emissions across all scopes by 2035. Investors must pressure them at their AGM in August to take responsibility for their impact on the planet and set detailed, credible transition plans.”
Notes to editors
- The full CO2 figures relating to EMS-Chemie's 2035 emissions target can be found on page 20 of their sustainability report (https://www.ems-group.com/fileadmin/ems-gruppe/documents/Sustainability/EMS_Sustainability_Report_en_2022.pdf)
- EMS-Chemie is targeting an absolute terms emissions reduction of 0.68% between now and 2035, on scopes 1+2 alone, if offsetting is discounted.
- The company does not target an absolute emissions reduction for its scope 3 emissions, which are currently estimated to be 13.9 million tons. EMS is currently targeting an increase of scope 3 by 2035 to 16.9 million tons.
- Overall, EMS plans for total emissions to grow from 14007735 to 17,007,000 tons under its emission 'reduction' targets by 2035, if offsetting is discounted.