How AkzoNobel Will Achieve 5% Annual Energy Consumption Cut

AkzoNobel has set out how it will use “the power of paints” to hit a host of ambitious climate change and sustainability targets.

In the sustainability section of its Annual Report 2023, the Dutch paint and coating manufacturer says it will have to “push boundaries” to hit its targets for carbon emissions, circular economy and energy use.

Inventive ways to achieve sustainability goals

The report, introduced by CEO Gregoire Poux-Guillaume, says: “By using the power of paints and coatings – to harness energy, reflect heat, protect surfaces for longer, purify indoor air and reduce drag in ships, for example – we can help our customers cut their energy consumption, increase efficiency, lower waste and improve safety, while also being more cost-effective.

“It’s about pushing boundaries and finding inventive ways to collectively make a positive contribution to our ever-changing world.”

The report adds that the approach will be “vital if we’re to realise our science-based target of halving carbon emissions in our value chain by 2030”.

Its main sustainability targets are:

• 50% less carbon emissions in its own operations and across the value chain (baseline 2018)
• 100% circular use of materials in own operations, driven by reduce, reuse, recycle
• 50% of revenue from sustainable solutions.

The report goes on to set out how AkzoNobel, whose Director of Sustainability is Wijnand Bruinsma, is performing against those targets.

Carbon emissions progress report

It says sustainable solutions development as a percentage of revenue was 39% in 2023 (39% 2022) against a 2030 target of more than 50%.

Other sustainability progress includes:

• 38% carbon emissions reduction since 2018 (target 50% by 2030)
• 9% Scope 3 carbon emissions since 2018 (target 50% by 2030)
• 62% of energy consumed is from renewable sources (target 100% by 2030)
• 7% energy reduction since 2018 (30% 2030 target)
• 55% of materials reused by AkzoNobel and suppliers (100% 2030 target).

The report says: “We’ve established that climate change could affect our supply chain, our customers and our operations.

“In 2021, we announced an ambition to reduce carbon emissions across our full value chain by 50% by 2030, taking 2018 as our baseline.”

It goes on: “Our ambitions are aligned with the Paris Agreement, which aims to limit climate change and ensure the global temperature doesn’t rise more than 1.5˚C above pre-industrial levels.

“To achieve our ambition of reducing our carbon footprint in our own operations by 50% by 2030 (Scope 1 and 2, baseline 2018), we have a clear decarbonisation strategy. This strategy will be further developed in 2024.”

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