Like other manufacturing companies, Symrise generates direct and indirect greenhouse gas emissions that result in increases in the earth’s average temperature. This has far-reaching consequences for humans and nature: areas that are being desertified, an increase in floods as well as resulting famines and refugee movements. For Symrise, climate change is leading to rising energy and raw material prices as well as climate-related costs, for example, through emissions trading. Reputational damage could also result in the loss of business. Climate change simultaneously offers opportunities, for example, through the increased use of efficient technologies that also result in cost savings. Given the urgency of the climate dilemma, SDG 13 requires prompt measures for climate protection.
Corporate Sustainability, supported by the Sustainability Board, is responsible for the topic of emissions reduction. The Sustainability Board meets several times per year to discuss, assess and report on climate-related data and developments. The goals and programs are determined by the Sustainability Board and finally approved by the CEO. The Risk Management department assesses company-specific risks and rewards related to climate change at least twice a year and reports the findings to the Executive Board.
The reduction of climate-damaging emissions is part of our environmental strategy and our environmental management (see resource conservation and excellence in the supply chain). We demonstrate our progress regarding emission reduction in a number of ways, including annual participation in the CDP independent investor initiative. Symrise compiles the CO2 emissions of its operating activities according to the internationally recognized Greenhouse Gas (GHG) Protocol Corporate Standard. We report on them according to direct emissions (Scope 1), energy-indirect emissions (Scope 2), and other indirect emissions (Scope 3).
In 2017, Symrise committed to reduce its absolute greenhouse gas emissions by 17.5 % by 2030 within the framework of the Science Based Targets initiative. In addition, Symrise intends that suppliers who provide raw materials amounting to a total of at least 80 percent of their purchasing volume commit to achieving their own climate targets and reduction measures by 2020.