Eurofiber receives SBTi approval for carbon reduction target

Eurofiber Group's CO2 reduction targets have been approved by the Science Based Targets initiative (SBTi) and are therefore in line with the insights to keep global warming below 1.5 degree Celsius as agreed in the Paris Agreement.

The challenge of SBTi is to limit global warming to 1.5°C and prevent the worst effects of climate change. With the aim to mobilizes the private sector to take the lead on urgent climate action. The SBTi is a partnership between CDP, United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).

‘’We’re proud to receive this internationally recognized approval by SBTi. This further encourages us to take the right steps in our sustainability ambitions for Thought Leadership in the ESG (Environment, Social and Governance) field’’, says Jeroen Kanselaar, Manager ESG of Eurofiber.

Official approved science-based targets commits Eurofiber to reduce absolute scope 1 and 2 GHG emissions 90% by 2030 and our scope 3 emissions by 30% from a 2021 base year. Eurofiber commits to increase active annual sourcing of renewable electricity from 95% in 2021 to 100% by 2025 and to continue active annual sourcing of 100%.

Last year Eurofiber completed a Euro 1.5 billion sustainability-linked refinancing supporting further network expansion across Europe. The facilities and the related hedging have sustainability incentives in alignment with Eurofiber’s sustainability program, which includes, among other things, measures that will lead to a 50% CO2 reduction by 2025 (compared to 2021), furthering the company’s stated goal to be 100% climate proof by 2030, as well as measures regarding gender balance. For this facility Eurofiber received the GlobalCapital's Sustainability Linked Loan of the Year Award, one of the leading information sources of the international capital markets. 

Eurofiber ESG ambitions & 2022 ESG report