LC Packaging’s Commitment to Climate Action: Science-Based Emission Reduction Goals Validated by SBTi

LC Packaging has achieved a significant milestone in its climate action strategy by having its science-based greenhouse gas emission reduction targets validated by the Science Based Targets initiative (SBTi). This validation underscores the company’s commitment to align its emission reduction efforts with the 1.5°C pathway, an essential target to combat climate change. The approved targets encompass LC Packaging’s complete operations and value chain, including direct (Scope 1) and indirect (Scope 2 and 3) emissions from its sales offices, warehouses, and production facilities in Bangladesh and South Africa.

The company’s 2030 Ambition plan aims for a 50% reduction in greenhouse gas emissions across its value chain by 2030, aligning with the Paris Agreement’s objectives. This includes a 50% reduction in absolute scope 1 and 2 GHG emissions and a similar target for scope 3 emissions from a 2021 baseline. The goal is to limit emissions to no more than 138,837 metric tons of CO2 equivalent by 2030, encompassing broader objectives in Living Wage, Circularity, and Climate Action, as detailed in LC Packaging’s 2030 Ambition magazine.

Lucas Lammers, CEO of LC Packaging, emphasizes the importance of science-based targets in ensuring credible and ambitious efforts to mitigate climate change, in line with the Intergovernmental Panel on Climate Change’s warning that global warming must not exceed 1.5°C to prevent catastrophic impacts. These validated targets are vital for businesses to make a substantive contribution to global emission reduction goals, essential for halving emissions by 2030 and achieving net zero by 2050.