Siegwerk achieves CDP B Score for Climate Change Performance 2023
Siegwerk, one of the leading global providers of printing inks and coatings for packaging applications and labels, has received a CDP Scoring B for its actions and contributions to minimise the impact of climate change. This is a remarkable achievement for Siegwerk, as it was the first year that the company voluntarily participated in disclosing its climate-related strategy and initiatives through CDP, one of the most widely commended and internationally recognised climate and environmental disclosure and scoring platforms.
23 Feb 2024 | 2280 Views | By Charmiane Alexander
The CDP scoring scale ranges from A to D, where companies with an A score are among the most transparent when it comes to disclosure and performance of their climate actions. Siegwerk's CDP B score reflects its commitment to sustainability and climate action, as well as its efforts to increase industry transparency.
Noteworthy are the high scores (absolute and relative to peers) awarded for the following categories out of a total of 17 evaluated categories:
Emission Reduction Initiatives and Low Carbon Products Siegwerk Score: A-
Siegwerk Score: A-
Activity Peer Average: C
Risk and Opportunity Management
Siegwerk Score: A
Activity Peer Average: B
Siegwerk’s risk and opportunity management score is attributed to effective oversight of climate transition risks, incorporating climate considerations into our business models, and engagement with stakeholders on climate reduction opportunities.
The scoring recognises Siegwerk’s extensive and ongoing efforts to reduce emissions, as well as stewardship in developing and promoting circular and low climate impact products. On top of that it is a validation of its decision to adopt climate change and sustainability as a value driver for its business and growth strategy.
The CDP score is a boost for Siegwerk to continue its efforts and focus to realise the seven ambitious targets set by its Sustainability Management Program HorizonNOW for 2025, including carbon neutrality Scope 1 and 2 emissions and achieving 75% of sales from products and services enabling circular packaging. HorizonNOW, with its clear targets, is aligned with the Science Based Target Initiative (SBTi) and United Nations Sustainable Development Goals (UN SDG).