Recently, Oriental Industries (Suzhou) Co., Ltd. (hereinafter referred to as "Oriental Industries") has set the short-term greenhouse gas emission reduction targets and net-zero targets set by SGS-CSTC Standards Technical Services Co., Ltd. (hereinafter referred to as "SGS") with the technical support of SGS-CSTC Standards Technical Services Co., Ltd. (hereinafter referred to as "SGS"), which has been officially approved by the "Science Based Targets Initiative" (SBTi) organization and announced on its official website, which marks an important step in the commitment of Oriental Industries to combat climate change.
In addition, CDP (Global Environmental Information Research Center), an international authoritative environmental non-profit organization, announced the 2023 annual rating results, and SGS helped Oriental Industries to obtain a "B" rating, far exceeding the average level of the same industry. This achievement affirms the positive performance of Oriental Industrial Corporation in responding to climate change, enhances the confidence of customers in choosing Oriental Industrial Co., Ltd., and strengthens Oriental Industrial Co., Ltd.'s determination to practice green, low-carbon and high-quality development.
SGS is CDP's "climate change" and "science-based targets (SBT)" partner in Chinese mainland, and as the technical support team of Oriental Industries through the approval of SBTi targets and CDP B-level rating, SGS helps enterprises promote green and low-carbon development and help achieve the "dual carbon" goal.
In March 2023, Oriental Industrial Co., Ltd. officially joined the Science Based Targets Initiative (SBTi) and promised to set short-term emission reduction targets and net-zero emission targets in line with climate science. After a rigorous review process, Oriental Industries' near-term and net-zero targets were officially approved by SBTi in March 2024, with the following specific goals:
Oriental Industries (Suzhou) Co., Ltd. is committed to achieving net-zero greenhouse gas emissions across the entire value chain by 2050.
Immediate target: Reduce absolute Scope 1 and 2 GHG emissions by 45.5% by 2030 from a base year of 2021, and we commit to reduce absolute Scope 3 GHG emissions by 25%.
Net Zero Target: Reduce absolute Scope 1 and 2 greenhouse gas emissions by 90% by 2050 from a 2021 base year. Reduce absolute Scope 3 greenhouse gas emissions by 90% over the same time period.
In recent years, Oriental Industries has been committed to becoming an enterprise that can achieve sustainable development and be responsible for the environment, society, employees and stakeholders, and has always firmly believed that the success of enterprises is closely linked to social responsibility.
Oriental Industries will actively lead the transformation of the industry, and the next step will be to formulate a series of specific action plans in accordance with the promised goals, from its own operation and production to the optimization of energy structure to the linkage of upstream and downstream suppliers, and carry out emission reduction work in all aspects.
In the future, we will optimize the production process in the future, improve production efficiency, optimize our energy structure through the layout of distributed photovoltaics, the purchase of renewable energy, the use of alternative fuels such as biofuels, etc., and consider the use of renewable energy as one of the principles of supplier evaluation while doing a good job in our own green emission reduction. Oriental Industry is willing to work with suppliers, partners and stakeholders to promote the realization of global greenhouse gas emission reduction goals.
About SBTi:
The SBTi is an international initiative of the Center for Global Environmental Information Research (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) to halve emissions by 2030 and reach net-zero emissions by 2050, in an effort to limit global warming to 1.5°C.
About CDP:
As one of the world's largest operational environmental disclosure platforms, CDP is committed to reducing greenhouse gas emissions and protecting water and forest resources. Formerly known as the Carbon Disclosure Project, CDP works with more than 740 institutional investors with $130 trillion in total assets and hundreds of sourcing companies around the world to incentivize companies to disclose and manage their environmental impacts through the power of investors and buyers. In 2023, CDP scored more than 21,000 companies based on their environmental disclosures in the Climate Change, Forest and Water Security questionnaires. Of these, less than 400 companies (2%) were included in the 2023 A-rated list for disclosing practical, high-quality environmental data.
About SGS:
SGS Management & Assurance Group can provide professional and efficient low-carbon integrated solutions, such as ISO 50001 energy management system certification, energy audit, energy efficiency benchmarking, energy saving diagnosis, energy efficiency testing, SBT science-based carbon target setting, ISO 14068 carbon neutrality standard, ISO 14064 organization or project level greenhouse gas quantification and verification, ISO 14067 product carbon footprint quantification and verification, PAS 2060 carbon neutrality declaration certification, ISO 14040/ISO 14044 LCA Life Cycle Assessment, CDP Disclosure Project Consulting, ESG Report Preparation and Verification, CBI Climate Bond Assurance and Green Finance, etc.