SBTi approves Speira’s 1.5°C commitment

• Near- and long-term targets submitted in December 2024 for validation approved by SBTi
• Overall target is to reach net-zero by 2045

The latest climate science from the IPCC – described by the UN as “code red for humanity” – shows it is still possible to limit global temperature rise to 1.5°C, although being dangerously close to that threshold. Speira is unwaveringly committed to the fight against global warming. Thus, the European Aluminium roller and recycler embeds its greenhouse gas reduction measures in global initiatives independent of industry and joined the Science Based Target initiative (SBTi).

Now, the near- and long-term targets Speira submitted in December 2024 for validation have been approved by SBTi. “Overall, Speira commits to reach net-zero greenhouse gas emissions across the value chain by 2045. We encourage all suppliers to clearly illustrate a commitment to decarbonize their operations – meaning Scope 1 and 2 emissions – through potential measures such as increased efficiency and technological improvements, as well as through the use of renewable energy”, says Dorothea Flockert, Head of Sustainability.

Regarding near-term targets, Speira commits to reduce absolute scope 1 and 2 GHG emissions 51.2 percent by 2030 from a 2021 base year. The roller and recycler of Aluminium also commits to reduce absolute scope 3 GHG emissions from purchased goods and services and upstream transportation and distribution 25 percent within the same timeframe.

The long-term targets are to reduce absolute scope 1 GHG emissions 90 percent by 2040 from a 2021 base year and commits to maintain at least 90 percent absolute scope 1 GHG emissions reductions through 2045. Speira also commits to reduce absolute scope 2 GHG emissions 90 percent by 2035 from a 2021 base year and commits to maintain at least 90 percent absolute scope 2 GHG emissions reductions through 2045. The company further commits to reduce absolute scope 3 GHG emissions from purchased goods and services, capital goods, fuel- and energy-related activities, upstream transportation and distribution, waste generated in operations, business travel, employee commuting, upstream leased assets, and downstream transportation and distribution 90 percent by 2045 from a 2021 base year.

Speira joined the initiative in December 2022 as it provides a clearly defined pathway for companies to reduce GHG emissions, helping to prevent the worst impacts of climate change and future-proof business growth. Targets are considered science-based if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement – limiting global warming to 1.5°C above preindustrial levels.

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. The iniative develops standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. The SBTi is incorporated as a charity, with a subsidiary which will host our target validation services. Our partners are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). More under sciencebasedtargets.org/.