CERATIZIT Group

February 3, 2023

CERATIZIT commits to set net-zero target with Science Based Targets initiative

CERATIZIT pledges emission reductions in the short and long terms
CERATIZIT commits to set net-zero target with Science Based Targets initiative

CERATIZIT S.A., Mamer, Luxembourg (headquarters), 30 January 2023

 

CERATIZIT has committed to setting short- and long-term targets for company-wide emission reductions in line with the science-based net-zero* approach laid out in the Science Based Targets initiative (SBTi). In doing so, the Luxembourg-based carbide specialist furthers its ambitious sustainability strategy presented this past September. 

 

“Climate change represents a challenge for all of humanity—and also requires the entire industry to rethink many areas. For those reasons, sustainability is a top priority for us,” says Executive Board Spokesman Andreas Lackner, explaining the company's commitment. The next step for CERATIZIT is to develop science-based targets based on its own sustainability strategy and have them validated by SBTi.

 

Efforts represent only the beginning

The latest scientific findings by the Intergovernmental Panel on Climate Change (IPCC) – described by the United Nations as a “red alert for humanity” – show that while there is still time to limit the global temperature increase to 1.5°C, that we are dangerously close to this threshold. Rapid and deep emission cuts are needed to cut  global emissions in half before 2030 and bring them to zero before 2050.

 

About the Science Bases Targets initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on encouraging and empowering companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

 

The initiative is a collaboration between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.

 

*Net Zero is currently the most stringent greenhouse gas emissions reduction target. It includes Scope 1 (direct emissions), Scope 2 (indirect emissions from purchased energy) and at least 66% of Scope 3 emissions (all other indirect emissions in a company's value chain), reduction measures with science-based targets, and offsetting the remaining emissions through carbon offsetting or carbon capture.

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Press contact:

Parwez Farsan
CERATIZIT S.A.
101, Route de Holzem
LU-8232 Mamer
Luxembourg
+352 31 20 85-854
press@ceratizit.com

CERATIZIT – with passion and a pioneering spirit for hard materials

For over 100 years, CERATIZIT has been a pioneer in developing exceptional hard material solutions for machining and wear protection. The private company, with registered offices in Mamer, Luxembourg, develops and produces highly specialised cutting tools, indexable inserts, rods made from hard materials and wear parts. The CERATIZIT Group is the global market leader in various application segments and successfully develops new carbide, cermet and ceramic grades, such as for wood and stone working.

 

With 7,000 employees at 30 production facilities and a sales network with over 50 branches, CERATIZIT is a global player in the carbide industry. The company's international network includes subsidiary Stadler Metalle and joint venture CB-CERATIZIT.

 

The technology leader is continually investing in research and development and holds 1,000 patents. Innovative hard material solutions from CERATIZIT are used in various sectors, including mechanical engineering and toolmaking, in the automotive and aerospace industries and in the oil, gas and medical industries.