Verescence climate targets validated by SBTi
Verescence's roadmap for reducing its CO2 emissions by 40% by 2034 has been validated by the Science Based Targets initiative (SBTi)
Verescence, the world leader in glass bottles for the Fragrance and Cosmetics industries, announced today that the Science Based Targets initiative (SBTi) has validated its decarbonization plan for 2034 and recognized it as compatible with the scenario of limiting global warming to well below 2°C, in line with the recommendations of the Intergovernmental Panel on Climate Change (IPCC) and the Paris Climate Agreement.
This roadmap covers both direct CO2 emissions related to the manufacture of bottles (Scope 1) and indirect emissions related to energy consumption (Scope 2), representing more than 60% of the Group's total emissions combined.
In concrete terms, Verescence is committed to reducing its CO2 emissions by 40% in absolute terms on Scopes 1 & 2 by 2034, compared to the reference year 2019.
To achieve this objective, the Group has developed a plan to reduce CO2 emissions based on several levers, from improving the energy performance of its existing processes, to deploying large-scale projects to electrify its furnaces and increasing its annual supply of electricity generated from renewable energy sources. In addition, it is accelerating its eco-design solutions in collaboration with its customers. This includes the use of reusable or refillable glass, PCR glass, and lightweight glass, for example.
Thomas Riou, CEO of Verescence, said:
We welcome the validation of our CO2 reduction targets by the SBTi. An independent and scientific approach is essential in the fight against climate change. We are now one of the first glassmakers in the world to have a decarbonization roadmap in line with the Paris Agreement and aligned with the recommendations of the scientific community. The Group's objective is to achieve carbon neutrality by 2050.
The glassmaker has estimated 20 million euros in additional investments needed in order to achieve its objectives, and also intends to reduce the indirect emissions linked to its value chain (Scope 3) by guiding its suppliers in reducing their carbon footprints.
 Launched in June 2015, the Science Based Targets initiative (SBTi) is a consortium bringing together the largest international bodies in the fight against global warming: the CDP (Carbon Disclosure Project), the WRI (World Resources Institute), the WWF (World Wildlife Fund), and the United Nations Global Compact. It aims to encourage companies to set greenhouse gas (GHG) emission reduction targets in line with the recommendations of the scientific community.
 PCR: Post-Consumer Recycled, recycled glass from local household waste collection.