Reduced carbon footprint

Climate change

A shared and urgent responsibility

We recognize the potential impact the escalating climate crisis may have on our business, as well as on our customers and communities. We want to minimize these impacts and to contribute to solutions, and we recognize that climate change mitigation and adaptation are of material importance to our company.


Targets for 2030

Reduction in absolute Scope 1 and 2 greenhouse gas (GHG) emissions from a 2019 baseline, in accordance with the Science Based Targets initiative (SBTi), allowing us to meet a well below 2°C scenario.

Electricity needs sourced directly or indirectly from renewable energy.


Climate change risks and opportunities

Risks

We depend on functioning, stable ecosystems to source raw materials, like mineral fiber and wood, for many of our products. Climate change, and related impacts on natural resource and biodiversity loss, threatens to drastically disrupt ecosystems, potentially impacting our access to raw materials. Products made of post-consumer materials may also face future supply shortages, as customer demand for more sustainable options increases. As climate change causes more frequent and severe weather events, we also face weather- and natural disaster-related risks at many of our facilities, as well as risks at key suppliers and customers. Severe weather conditions could also disrupt residential or commercial construction activity, which is a key driver of our business. In addition, new regulations have the potential to affect our business, and to increase the costs of energy and transportation of our products. Other stakeholder concerns, such as deforestation, waste and recyclability, could become subject to further regulation. Lastly, because investors are increasingly focused on climate change, in the absence of positive performance, investors could start to divert capital.

Opportunities

We are working to reduce our greenhouse gas emissions, limit waste and optimize our water use, which we discuss further in this report. The building and construction industry accounts for over 40% of global greenhouse gas emissions. There is an enormous opportunity to improve industry performance and make positive contributions to the fight against climate change, especially with the move towards more energy efficient buildings and targets for net-zero greenhouse gas emissions. As building codes, industry standards and customers move toward more sustainable materials, we are creating innovative products and solutions that better support the health of people and the planet. Our greenhouse gas reduction efforts — including our work on embodied carbon — also help future-proof our business against regulatory shifts, save us money over the long-term and respond to growing investor demands for net-zero or net-positive climate action.


Aligning our goals with climate science

The private sector has a critical role to play in the global response to climate change. We recognize our responsibility to reduce our carbon emissions significantly, and to do so in a way that aligns with climate science. In April 2021 we joined the Science Based Targets initiative (SBTi) to set goals in line with the Paris Agreement under the United Nations Framework Convention on Climate Change. Working with the SBTi, we set an internal goal to meet a well-below 2°C target and have committed to reducing absolute Scope 1 and Scope 2 GHG emissions by 30% from a 2019 baseline. Achieving this goal will offset all of our carbon emissions from electricity usage and a portion of our natural gas usage. Moving forward, we are continuing to work with the SBTi to set a Scope 3 emissions goal.

 


Embodied carbon


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