Aligns with Science Based Targets initiative (SBTi) for its Net Zero Journey
· Committed to tackle climate change by setting science-based sustainable targets to well below 2°C
Mumbai, 12th August, 2021: ACC Limited (ACC) has its 2030 carbon emission reduction targets endorsed by the Science Based Targets initiative (SBTi). The company has signed the “Business Ambition for 1.5°C” pledge and joined the Race to Zero campaign of the United Nations Framework Convention on Climate Change. This makes ACC the first company in the Indian construction sector to sign the “Business Ambition for 1.5°C” commitment with 2030 intermediate targets approved by SBTi.
ACC partnered with CDP India’s SBTi Incubator Program to develop its science-based targets. ACC’s SBTi approved targets align with the reductions required to limit warming to well below 2°C. ACC commits to reduce scope1 GHG emissions by 21.3% per ton of cementitious and scope 2 GHG emissions 48.4% per ton of cementitious material by 2030, from a 2018 base year*.
“At ACC, we continuously strive to become a responsible and sustainable company by implementing calibrated strategies to achieve sustainability goals and targets. Taking this step forward, ACC has now joined the group of global companies moving towards an ambitious low carbon economy with approved science-based targets. Joining the Race to Zero will strengthen our vision and mobilize our goals to tackle climate change. This will help us accelerate our commitment to making a positive contribution for the planet and people,” said Sridhar Balakrishnan, MD & CEO, ACC Limited.
With these targets, ACC commits to reduce its CO2 intensity in cement operations from 511 kg in 2018 to 409 kg CO2 per ton of cementitious material by 2030**. In line with the parent company Holcim Group’s Net-Zero Pledge, ACC has taken several measures to reduce CO2 emissions, such as reducing the clinker factor, improving Thermal Substitution Rate reducing Thermal and Electrical Energy intensity, implementing Waste Heat Recovery System and increasing the rate of renewable energy consumption, and introducing new technologies. With 493 kg CO2 per ton of cementitious material in 2020, ACC performance is among the lowest specific CO2 emissions in the country. ACC will continue its pro-active approach to developing low carbon products and sustainable solutions.
“We are committed to making a tangible difference in the areas of carbon footprint reduction, circular economy, protection of natural resources and welfare of our communities in India. With a sharp focus on becoming the most sustainable company, ACC’s commitment to the Net Zero road map is visible and on track,” said Neeraj Akhoury, CEO India, Holcim.
“Science-based targets (SBTs) enable companies to develop a clearly defined decarbonization roadmap that aligns with the goals of the Paris Agreement and promotes a Net-Zero energy system. CDP India’s SBT Incubator supports companies in India to align with these targets. By committing to science-based emissions reduction targets, ACC has positioned itself as an industry leader, showing the way for the sector’s transformation to a low carbon sustainable future. We believe that this will encourage more companies on their Net Zero Journey,” said Shankar Venkateswaran, Executive Director, CDP India.