VAT Group Aims for 80% Emission Reduction by 2033; Industry ESG Updates
VAT Group AG's climate goals, validated by SBTi, target an 80% reduction in Scope 1 and 2 emissions by 2033. The shift towards sustainable practices is mirrored across multiple industries, as firms implement strategies to meet regulatory pressures and improve sustainability ratings.
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VAT Group AG has set a target to reduce Scope 1 and 2 emissions by 80% by 2033, validated by the Science Based Targets initiative. Additionally, it aims for a 61.1% reduction in Scope 3 emissions per Swiss Franc of value added, starting from 2023.
Novelis has initiated operations of an electric melting furnace in Sierre, Switzerland, expected to cut CO2 emissions by 4,500 tons annually. Feralpi Stahl is investing €220 million in emissions-free rolling mills in Riesa, while Thyssenkrupp Steel is planning a hydrogen reduction facility in Duisburg with full operation anticipated by 2029.
The logistics sector is also advancing with Seaspan Corporation's acquisition of LNG dual-fuel vessels. Industry shifts towards sustainability may influence competitive dynamics and regulatory compliance.
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