Air Liquide’s 2035 CO2 trajectory validated by the Science Based Targets initiative (SBTi)

Rhea-AI Summary

Air Liquide (Paris:AI) has achieved validation from the Science Based Targets initiative (SBTi) for its goal to cut Scope 1 & 2 CO₂ emissions by 2035. This makes Air Liquide the first company in its sector to receive such validation. The initiative supports the company's aim of reaching carbon neutrality by 2050. Alongside this commitment, Air Liquide is actively reviewing its Scope 3 emissions and is involved in developing sector-wide decarbonization strategies. The group reported revenues exceeding 23 billion euros in 2021 and focuses on sustainable development within its strategic plan, ADVANCE.

Positive

• First in the industry to validate 2035 CO2 emissions reduction target with SBTi.
• Ambition to achieve carbon neutrality by 2050 aligns with global climate goals.
• Active involvement in developing decarbonization strategies for the chemical sector.
• Revenue exceeded 23 billion euros in 2021, showcasing strong financial performance.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Air Liquide’s (Paris:AI) target to reduce its Scope 1 & 2 CO₂ emissions by 2035 has been validated by the Science Based Targets initiative (SBTi) as qualified and aligned with climate science. The Group is the first in its industry to obtain validation from the Science Based Targets Initiative. This approval represents an important milestone towards the Group’s ambition to reach carbon neutrality by 2050.

The Science Based Targets initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World-Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.

Air Liquide's 2035 Climate Objectives address Scope 1 & 2 emissions. The Group aims at global carbon neutrality by 2050, and has therefore initiated an extensive review of its Scope 3 emissions. This is further illustrated by its participation in the SBTi-led project to develop a Sector Decarbonization Approach (SDA) for the chemical sector. This project sets out to develop standardized methods and best practices for emissions accounting, with a focus on critical Scope 3 categories for the chemical industry.

Sustainable Development is fully embedded in Air Liquide’s strategy and in its investment decisions. Unveiled on March 22, 2022, the Group’s new strategic plan for 2025, ADVANCE, combines financial and extra-financial performance, into a global performance commitment.

Fabienne Lecorvaisier, Executive Vice President and Member of the Executive Committee, in charge of Sustainable Development, Public and International Affairs as well as the supervision of the Social Programs and the General Secretariat, said : “The validation by a leading and independent authority such as the SBTi represents a major recognition of Air Liquide’s plan to reduce its carbon footprint by 2035, on a trajectory to ultimately reach carbon neutrality by 2050. CO₂ emissions reduction is a key objective of our strategic plan for 2025, ADVANCE. Air Liquide’s strong commitment to act for a sustainable future not only includes reducing the carbon emissions of its own assets, but also helping its customers to reduce their CO₂ emissions and developing low-carbon ecosystems. The Group is committed to global performance, not only financial, but also environmental and societal. ”

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.

Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.

Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.

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Source: Air Liquide

FAQ

What is Air Liquide's Scope 1 & 2 CO2 emissions reduction target?

Air Liquide aims to reduce its Scope 1 & 2 CO2 emissions by 2035.

When was Air Liquide's emissions reduction target validated?

The validation from the Science Based Targets initiative was recently achieved.

What does Air Liquide aim to achieve by 2050?

Air Liquide aims for carbon neutrality by 2050.

How much revenue did Air Liquide generate in 2021?

Air Liquide reported revenues exceeding 23 billion euros in 2021.

What is the significance of the SBTi validation for Air Liquide?

It represents a major recognition of Air Liquide's plan to reduce its carbon footprint and aligns with climate science.