MCAM’s goals build on an in-depth gap analysis of its progress across all existing climate action carried out in 2020, which enabled the company to set the first essential milestone of becoming climate neutral by 2023. Half of MCAM’s 32 manufacturing and fabrication sites around the world already use 100 per cent electricity based on renewable sources. Five of these locations additionally compensate for their remaining emissions.
As a member of Mitsubishi Chemical Corporation, MCAM is committed to “Realising Kaiteki”, the sustainability vision and strategy of the Mitsubishi Chemical Holdings Group (MCHC), the company said.
“At Mitsubishi Chemical Advanced Materials, our vision to put Kaiteki into practice is to give back more than we take. This same vision underscores our commitment to continuously look for innovative solutions to global challenges,” said Michael Koch, CEO of MCAM. “As a front runner in the industry, we have now set the target of becoming climate neutral by 2023 and climate positive by 2030. But we know we cannot do this alone. A key enabler in achieving our goal will be strong collaboration with our partners along the value chain.”
MCAM currently measures the greenhouse gas emissions (GHG) resulting from its production and indirect energy procurement-related emissions (scope 1 and 2). Additionally, the company tracks the use of water, virgin raw materials, as well as overall waste generation.
To support its long-term sustainability strategy and achieve climate positivity, MCAM will establish a baseline of emissions within the supply chain and other non-direct emissions (scope 3). Based on this inventory, from 2023 onwards, MCAM will set realistic yet ambitious reduction pathways in line with the scientific requirements to reach the goals of the Paris agreement.
It will continue to reduce emissions by implementing energy efficiency measures, with a realistic goal of reducing the energy used in its operations by 15 per cent globally by 2025, compared to a 2015 baseline. The company will increase renewable energy procurement to reach 100 per cent by 2023.
It will compensate by investing in certified, high quality carbon credits when emissions are unavoidable. As part of MCAM’s holistic framework, it will incorporate resource efficiency in production. The company will continue life-cycle assessments and strategic acquisitions to move towards a circular economy.
It aims to reach Zero landfill, as well as waste and water usage reduction by at least 20 per cent each by 2025 compared to a 2015 baseline.
Fibre2Fashion News Desk (SV)