The cement producer has aligned with Science Based Targets initiative (SBTi) for its Net Zero Journey. "Committed to tackle climate change by setting science-based sustainable targets to well below 2°C," says the company.
Mumbai-based cement manufacturer ACC Limited (ACC) has signed the “Business Ambition for 1.5°C” pledge and joined the Race to Zero campaign of the United Nations Framework Convention on Climate Change. The company’s 2030 carbon emission reduction targets have been endorsed by the Science Based Targets initiative (SBTi).
This makes ACC the first company in the Indian construction sector to sign the “Business Ambition for 1.5°C” commitment with 2030 intermediate targets approved by SBTi. The latter shows companies how much and how quickly they need to reduce their greenhouse gas emissions in order to be consistent with keeping warming below the most dangerous levels.
ACC partnered with CDP India’s SBTi Incubator Program to develop its science-based targets. ACC’s SBTi approved targets align with the reductions required to limit warming to well below 2°C. ACC commits to reduce scope1 GHG emissions by 21.3% per ton of cementitious and scope 2 GHG emissions 48.4% per ton of cementitious material by 2030, from a 2018 base year.
“Joining the Race to Zero will strengthen our vision and mobilize our goals to tackle climate change. This will help us accelerate our commitment to making a positive contribution for the planet and people,” said Sridhar Balakrishnan, MD & CEO, ACC Limited.
With these targets, ACC commits to reduce its CO2 intensity in cement operations from 511 kg in 2018 to 409 kg CO2 per ton of cementitious material by 2030. Some of the measures taken by ACC to reduce CO2 emissions include reducing the clinker factor, improving Thermal Substitution Rate reducing Thermal and Electrical Energy intensity, implementing Waste Heat Recovery System and increasing the rate of renewable energy consumption, and introducing new technologies. With 493 kg CO2 per ton of cementitious material in 2020, ACC performance is among the lowest specific CO2 emissions in the country, says the company.
Launched in June 2020 under the stewardship of the United Nations Framework Convention on Climate Change (UNFCCC), Race to Zero is a global campaign designed to rally leadership and support to achieve net zero carbon emissions by 2050 at the latest, and to build momentum around the shift to a decarbonized economy ahead of the upcoming UN Climate Summit, COP26.
“CDP India’s SBT Incubator supports companies in India to align with these targets. By committing to science-based emissions reduction targets, ACC has positioned itself as an industry leader, showing the way for the sector’s transformation to a low carbon sustainable future. We believe that this will encourage more companies on their Net Zero Journey,” said Shankar Venkateswaran, Executive Director, CDP India.