17/07/2020 - CommitmentsThe Science Based Target Initiative* (SBTi) has approved Vallourec’s carbon trajectory until 2025, declaring its fulfillment of COP 21 - PARIS goal commitments to limit global warming to a level well below 2 degrees Celsius.
SBTi-approved 2025 emission reduction targetsVallourec is committed to:
This trajectory results from our low-level emissions, together with our strategic focus and detailed action plan developed to further reduce emissions. Our commitment to a low-carbon economy absolutely sets us apart from the competition.Jean-Louis Merveille Group Sustainable Development Director
Direct emissions reduction (Scopes 1+2) by at least 20 % by 2025 (based on 2017 data)This objective is part of our ongoing energy savings program, The GreenHouse Project, which started in 2009 and targets our total gas and electricity consumption reduction by 20% before 2020. To achieve its Scopes 1+2 targets and reduce even further its direct emissions, Vallourec is extending this program to 2025 and is targeting a further 10% improvement (with 2017 as the baseline year).
25 % indirect emissions reduction via global ScopesOur action on total value chain indirect emissions will be critical for bolstering our contribution to a low-carbon economy.
Concrete actions on the upstream part of our value chain...Vallourec will leverage its relationship with strategic steel suppliers to engage them in reducing their carbon intensity per ton of steel. Notably, in November 2019 weobtained commitment from its largest European steel supplier to a 20% reduction in carbon intensity by 2025.
...in parallel with strategic decisions acting on our downstream activityVallourec’s ambition is to focus on energy transition through geothermal, hydrogen, wind energy, and CCUS (carbon capture and storage).
We are proud of this recognition by the SBTi, which demonstrates our long-standing commitment to the fight against global warming and to a carbon-free economy. Indeed we are the first company in the Oil and Gas sector to obtain this recognition.Edouard Guinotte Chairman of the Management Board