Race to Zero

We all have an obligation to contribute to speed up climate action and being a fast-growing global company, the contribution of our decarbonisation actions will only be even more impactful. Faerch is committed to being a frontrunner, within the food packaging industry, to reach net zero emissions as fast as possible.

Our commitments

In 2022, we have committed to the Science Based Targets initiative (SBTi) to align with the most ambitious aim of the Paris Agreement – to reach net zero global emissions by 2050 at the latest.

However, we want to increase the ambition by aiming for net zero across our entire value chain by 2040 at the latest and reducing our emissions 50% by 2030 compared to our base year (2022).

During 2023, we will submit our near-term (2030) and long-term (2040) targets and have them validated by the SBTi.

Our road to net zero

For us to reach our net zero commitment, a full transition into circular low carbon input materials are required. This is a path we have been on for some time already with recycled tray PET from our recycling plant Cirrec, and it is fully aligned with our current business model as an integrated recycler and the foundation of our strategy going ahead in terms of growth and scaling.

Our focus areas and must-win battles are energy efficiency, renewable energy (Power Purchase Agreements and on-site solar panels), recycled input material and supplier engagement. Some initiatives have already commenced, but we expect 2023 to be the year where we accelerate our initiatives on this area, and set concrete interim goals to reach our near-term target of a 50% reduction by 2030.

will therefore continue our work to use energyefficient technologies, and work continuously to reduce our energy consumption with our “Power of Faerch” programme focusing on energy efficiencies. In 2023, we will run a pilot project at a selected site in collaboration with external experts who will examine the portfolio of available solutions to make the site more energy efficient. These solutions will subsequently be rolled out in the Group where suitable and aligned with our Group Platform mindset. This will allow us to set clear guidelines on how Faerch sites should operate to become more energy and cost-efficient.

Scaling our recycling and engaging with suppliers

Over 60% of our carbon emissions are tied to our purchased goods. In line with our business strategy we will scale our recycling business and ensure that we are able to provide low carbon and circular input material into our food packaging business.

Energy efficiency in the Group platform

To Faerch, the best energy is the energy saved both in terms of emission reductions and costs. We

In addition we will work with our suppliers to reach our goals and ambitions. This will be done through a comprehensive Supplier Engagement