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The Coroplast Group's climate strategy pursues the goal of greenhouse gas-neutral operations worldwide by 2050 and at its German sites by 2030. To achieve these goals, we have defined six fields of action in our climate strategy, one of which is purchasing green electricity.
We reached an important milestone on this path in July 2023: the Chinese sites of our Coroplast Tape and Coroflex business units in Kunshan (Jiangsu Province) have been sourcing their electricity from sustainable sources since July 2023. By using more solar and wind energy, we are reducing emissions of climate-damaging gases and thus reducing the environmental impact of our production.
The impact of this decision is considerable. The Corporate Carbon Footprint (CCF) of the entire Coroplast Group will be reduced by around 11% over the year as a whole as a result of this measure – based on the figures for our own production in 2022. In order to further improve our carbon footprint, the contractually agreed share of hydropower in the electricity mix of our Mianyang site (Sichuan Province) of the WeWire business unit will also be included in the CCF. This will reduce our global emissions additionally by approximately 3%.
The use of renewable energies is particularly important at the Chinese sites because the Chinese energy mix is relatively carbon rich due to the high proportion of coal in electricity generation. In 2022, they were responsible for only 12% of the Group's energy consumption, but contributed about 18% to the carbon footprint. This discrepancy will be noticeably reduced from 2023 on.
By switching to green power, we are contributing to climate protec-tion without jeopardizing our economic success.
During a visit to all Chinese sites, Dr. Martin Uebele, Principal Policy and Public Affairs, held final talks on the purchase of green energy and discussed further strategic and sustainability topics. This direct collaboration is crucial to communicating the sustainability strategy worldwide, strengthening partnerships and gathering valuable feedback.
In addition, the on-site discussions serve another important purpose: preparing for international reporting, the new Corporate Sustainability Reporting Directive (CSRD). The EU’s CSRD sets high standards for the disclosure of sustainability information and requires companies to report comprehensively on environmental impact, social responsibility and corporate governance. The exchange with colleagues therefore also focused on alignment with these new standards.