Kingspan Group has released its second annual report for its 10-year sustainability programme, Planet Passionate.
Highlights include a 4.3% reduction in scope 1 and 2 GHG emissions and a 29% reduction in carbon intensity year-on-year, against a background of 42% total revenue growth for the period.
For the second year running, the Group has made absolute reductions towards its 2030 net zero carbon manufacturing goal.
This is underpinned by a verified SBTi target to reduce absolute Scope 1 and 2 GHG emissions by 90% by 2030, from a 2020 base year.
Achieving this will require the decarbonisation of Kingspan’s energy sources and processes across its existing 198 manufacturing sites (up from 166 in 2020) while supporting newly acquired businesses to decarbonise as quickly as possible.
To accelerate the Group’s decarbonisation strategy, the report has announced the introduction of an internal carbon charge of €70 per tonne of CO2e, which will be implemented throughout the business in 2023.
The 2021 Planet Passionate report illustrates the positive progress made to date against the majority of the programme’s 12 measurable targets in carbon, energy, water and circularity.
While Kingspan did not make progress in 2021 against its target to halve the product CO2e intensity from its primary supply partners by 2030, the report highlights ongoing collaboration with suppliers to this end.
Moreover, during the year Kingspan invested in H2 Green Steel, a company pioneering new production methods for lower-impact steel manufacturing using green hydrogen.
The use of lower-emissions steel could help Kingspan reduce the embodied carbon of its insulated panel products by up to 45%.
The report also presents the impact of Kingspan products sold during 2021. The built environment is responsible for roughly 39% of global carbon emissions, and high-performance insulation is one of the most important ways to increase energy efficiency in buildings.
The insulation systems Kingspan sold during 2021 are projected to save 193 million tCO2e during their lifetime. That’s equivalent to the emissions from 42 million passenger vehicles in a year.
In addition, Kingspan announced a new initiative called Planet Passionate Communities, a programme that will support people and communities around the world.
The report unveils the programme’s flagship project: a five-year partnership with GOAL, the international humanitarian response agency, to support them in their transformative work in areas of most need.
Gene Murtagh, CEO of Kingspan Group, said: “The climate crisis, the pandemic, and now recent global events all serve to concentrate the mind on the need to build a more resilient and equitable world while ensuring energy security.
“Planet Passionate is our contribution to a future that uses resources efficiently, protects the natural world and delivers high-performance, energy-efficient products and solutions to our customers and global communities.”
Bianca Wong, Head of Sustainability of Kingspan Group, said: “Delivering a programme of this scale against a background of rapid business growth takes huge effort and determination and I would like to thank and commend the incredible efforts of our people across the world to achieve positive progress against the majority of our targets for the second year in a row.”
View the full version of Kingspan’s Planet Passionate Sustainability Report here.
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