Corinth Pipeworks, the steel pipe industry of Cenergy Holdings, has submitted its commitment to the SBTi (Science Based Targets initiative). The SBTi initiative helps companies set scientific targets for reducing greenhouse gas emissions and transforming their businesses to align with the low carbon economy. The SBTi framework is the world’s first and only comprehensive scientific assessment that aligns corporate targets for zero carbon with climate data.
Corinth Pipeworks is one of the leading manufacturers of steel pipes and hollow beams in the world, for the energy and construction sectors, whose commitment is to contribute positively to the energy transition and to tackle climate change through new technological solutions that allow increasing use of renewable sources in the energy mix, through the development of innovative products and the reduction of the carbon footprint of its productive activities.
The Company is committed to developing scientific objectives according to the SBTi Net-Zero standard which was published on October 28, 2021 and includes specific short-term target requirements (5-10 years) combined with zero carbon requirements by 2050 at the latest. and participating in the Business Ambition for 1.5 ° C, aims at a drastic reduction of its carbon emissions and specifically for the Scope 1 and 2 by at least 4.2% and the Scope 3 by at least 2.5% on average per year .
Objectives adopted to reduce greenhouse gas (GHG) emissions are considered “scientific” if they are in line with what modern science argues is necessary to achieve the objectives of the Paris Agreement, ie to reduce global warming considerably. below 2 ° C relative to pre-industrial levels and to continue efforts to reduce overheating to 1.5 ° C. The Science Based Targets initiative is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the WRI (World Resources Institute) and the WWF (World Wide Fund for Nature).
As a next step, the Corinth Pipeworks will develop and further define a clear target for reducing carbon emissions according to the SBTi criteria, which will be submitted for official ratification by the organization.
Source: Capital
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