SBTi: Reinforcing Our Environmental Commitment
At Copps Industries, we take our commitment to the environment, our community, and our customers seriously. In 2023, we took an extra step to reinforce our commitment to sustainability by joining the Science Based Targets initiative (SBTi).
SBTi plays a crucial role in mobilizing the private sector to contribute to global climate goals and transition towards a low-carbon economy. The initiative offers companies a clear roadmap for sustainable growth by determining the amount and speed of reducing greenhouse gas emissions.
What Are ‘Science-Based Targets’?
Proper organization and project management initiatives can help companies zero in on social and environmental goals as part of their ESG efforts. Science-based targets, in particular, are used to denote the specific goals—and pathways to achieving those goals—that companies will use to curb greenhouse gas (GHG) emissions.
The Science-Based Targets initiative is a framework that provides a clear series of steps for companies to ensure a sufficient reduction in greenhouse gas emissions. The framework uses scientific knowledge and a deep understanding of greenhouse gases to design specific, actionable goals. A goal meets the science-based definition if it aligns with the scientific evidence in the Paris Agreement, an international treaty focused on climate change and efforts to curtail or reverse negative environmental changes.
While many organizations are motivated to reduce their climate impact and have made strides in this direction, a clear framework and widespread initiative can make the efforts more effective. To achieve real change, we all must work together on a large scale. Ambitious, scientifically-backed goals lay the groundwork for worldwide transformation.
Driving Responsible Climate Action
Companies that commit to SBTi targets are seen as leaders in sustainability and climate action.
There are many benefits of participating in SBTi:
- Transparency and accountability: Setting science-based targets allows a company to affirm its commitment to sustainability and provides a transparent framework for reporting progress against specific goals.
- Stakeholder confidence: Science-based targets assure stakeholders like customers, partners, and investors that a company is diligently managing its environmental and safety risks and working towards sustainable change.
- Regulatory preparedness: By aligning with recommended science-based targets, companies can be better prepared for future regulations and policies aimed at reducing carbon emissions.
- Operational efficiency: Setting emissions reduction targets can increase efficiency and create cost savings by helping a company improve its energy management.
Copps Industries’ Science-Based Targets: Greenhouse Gases and Environmental Commitment
Of the nearly 9,000 companies participating worldwide, around 1,200 are headquartered in North America. Most companies involved are very large; organizations like 3M, Abbott, Conagra, General Motors, and others have all declared their environmental commitment through SBTi. As a smaller company, Copps Industries’ participation is somewhat unique.
Our SBTi journey began when one of our European private-label customers brought the initiative to our attention. We listened, evaluated, and determined that participating in SBTi aligns with our mission, which reflects a commitment to the environment and commitment to our customers.
Copps Industries had a long-standing environmental commitment, continually working toward reducing our environmental impact with efforts like:
- Removing flammables from our plant
- Replacing chlorinated solvents in favor of more environmentally friendly compounds
- Removing known and suspected toxic ingredients from our chemical formulations
- Upgrading our packaging to reduce waste
Joining SBTi has allowed us to refine our goals to reduce our environmental impact. The first step in joining the initiative was signing the SBTi Commitment Letter, which allowed us to declare our commitment to SBTi publicly. After signing the letter, we had a period of time to create science-based targets that fulfilled the SBTi criteria and submit those goals for SBTi validation.
Our submission was approved using a streamlined target validation route exclusive to small and medium-sized enterprises (SMEs). Our science-based targets include a commitment to:
- Reduce scope 1 and scope 2 GHG emissions by 42% by 2030 from a 2021 base year
- Measure and reduce scope 3 emissions
Reporting and Future Goals
SBTi serves as a reporting service, and all the data that participating companies submit is publicly available on the SBTi website. The dashboard displays the organizations that have committed to set science-based targets and those with greenhouse gas (GHG) emissions reduction targets validated as science-based by the SBTi.
SBTi milestones are measured at 5, 10, and 30 years. The near-term goal of the initiative is to encourage more companies to adopt important environmental metrics. As Copps Industries’ journey evolves, regularly reporting data will allow us to ask, “Have we made an impact? How can we make changes?” We have many measures already in place and will continue to drill down on the data to identify trends and opportunities for improvement.
SBTi and the Copps Industries Mission
At Copps Industries, we support SBTi and the continued efforts toward a future with reduced or net-zero GHG emissions to slow climate change. As a leading innovator in the epoxy product space, our mission is to continually innovate our products and services to meet the needs of our customers and the environment and prioritize the safety of our employees in the workplace. We aim to continue focusing on a cleaner future and providing consistently high-quality epoxy products.
Copps Industries is your go-to partner for high-quality epoxies, but we’re also your partner for environmental action and a more sustainable supply chain. Contact us today to learn more about our initiatives or request a quote.
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