The chemical and pharmaceutical industries in Europe can do more for carbon neutrality.
It is known that Europe aspires to be carbon neutral by 2050, an economy with zero greenhouse gas emissions. This goal is at the heart of the European Green Deal and is in line with the EU’s commitment to global climate action under the Paris Agreement.
The chemical industries in Germany are beginning to detect sustainable practices and promote sustainable procedures.
Together for Sustainability (TfS) is a joint initiative of chemical companies in Germany with a program to assess, audit and improve sustainability practices within industry supply chains. TfS aims to build the standard based on the sustainability performance of suppliers within supply chains, following predefined criteria that are then shared among its members.
TfS member chemical companies can do more to reduce their environmental impact, especially with indirect and their supplier emissions.
Industries in general are aware of the great problem of not being able to reduce greenhouse gas (GHG) emissions generated by their activities. Furthermore, a large part of the companies in the sector recognizes that up to 80% of their carbon footprint or environmental impact comes from sources that they do not directly control, including suppliers.
We are talking about vehicle fleets, employee journeys from home to work and vice versa, business trips by plane, train, taxi, and the manufacturing processes themselves.
Even more alarming is the lack of demand on suppliers (of raw materials, consumables, logistics subcontractors, etc.) to align with good sustainability practices and a first approach to the calculation of the environmental impact or carbon footprint of the products and services they supply to their customers.
5-HT digital ecosystem companies in Germany can help TfS member chemical industries
The 5-HT digital ecosystem in Germany owns a technology company specialized in good management practices for environmental impacts and the carbon footprint of large companies from different sectors (airlines, hotels, water and waste, urban mobility, finance, etc.) .
Climatetrade has started to support SMEs in the chemical-aesthetic sector in Spain to calculate and offset the environmental impact of organizations and is guiding companies in the launch of carbon neutral products.
Digitization of Carbon Markets and Climatetrade’s Carbon Accounting Services Will Help TfS Member Chemical Industries
Regarding digital access to carbon markets and digitization of carbon footprint accounting that ClimateTrade’s marketplace can help TfS member chemical industries.
In this marketplace, polluting companies can balance their carbon footprint by buying carbon credits and contributing to projects that capture CO2 from the atmosphere or avoid its emission.
Thanks to the digitization of these markets, both voluntary and mandatory, the monitoring of environmental impacts and carbon accounting in industries is more transparent and efficient, thus contributing to national objectives in the fight against climate change.
Decarbonisation of the chemical and pharmaceutical industries is a challenge
This will be the biggest challenge of the future, to decarbonise these industries. Since they will not be able to reduce their GHG emissions to zero, it will be necessary to offset the rest of their emissions to achieve carbon neutrality. Companies must take good care of this issue in the future, not only for the planet, but also for their consumers and investors who expect them to act in a sustainable way.
To learn about Voluntary and Mandatory markets click here.