Kingspan has been recognised for its environmental leadership in corporate transparency and performance on climate change by CDP, securing a place on its annual ‘A List’
Kingspan has once again been recognised for its high environmental performance, winning one of 346 coveted positions on the Climate Change ‘A List’, published by CDP, beating nearly 21,000 peer companies.
Global environmental non-profit CDP measures corporate transparency and performance on climate change on behalf of over 740 financial institutions with over US$136tn in assets.
Bianca Wong, global head of sustainability at Kingspan Group, said:
“To limit global temperature rise to 1.5⁰C by the end of this century and achieve a net-zero emissions future, we all have a responsibility to be transparent about our progress and what we are doing to play our part.
“We have set ambitious 1.5⁰C-aligned GHG emissions reduction targets within our 10-year Planet Passionate programme. Our dedicated teams across our business work tirelessly to make continued annual progress towards our goals and our position on the CDP A List is fantastic recognition of this dedication and our journey so far.”
Kingspan aims to achieve net zero carbon manufacturing by 2030
Kingspan has already achieved a 26% absolute reduction in its scope 1 and 2 emissions since 2020 and has made significant strides again in 2023, with the latest results soon to be published in its annual Planet Passionate report.
The company also aims to reduce the CO2 intensity of its primary supply chain partners by 50% by 2030.
This climate ambition is aligned with a 1.5⁰C trajectory and places increased emphasis on emissions reduction over offsetting, with targets approved by the Science Based Targets initiative (SBTi).
The company also has measurable environmental targets on harvesting rainwater, eliminating waste to landfill, increasing use of recycled materials and more.
The tide is turning on environmental transparency in the industry- but there is still far to go
Figures published by CDP also showed that only 10% of disclosing companies – Kingspan included – have renewable energy consumption targets established. Those on the ‘A List’ have been recognised by CDP for their comprehensive climate strategies and targets and must also achieve a minimum of 4.2% emissions reductions annually.
The number of companies choosing to disclose their sustainability targets and performance is on the rise as stakeholders seek confidence that companies are acting with longevity in mind.
In 2023, CDP saw the volume of disclosures increase by 24% – a promising sign that more companies are taking all-important steps to close the gap between ambition and action.
