Topsoe increases climate commitment by setting ambitious net-zero targets

Topsoe, a global leader in carbon emission reduction technologies, announced Sept. 20 its commitment to reach net-zero emissions by 2040, setting near- and long-term company-wide emission-reduction targets. The target commitments have been sent to the Science Based Targets initiative (SBTi) for validation.

Through investment in renewable energy technology and changes to production processes, Topsoe aims to reduce operational emissions by 30 percent in 2024 and at least 95 percent in 2030, with a transition to 80 percent renewable power within all the company’s operations by 2025.

This is the latest milestone in Topsoe’s transformational decarbonization strategy. By engaging with suppliers on their emission-reduction progress and collaborating with customers and other business partners, Topsoe believes it can reach net zero a decade ahead of the Paris targets.

“Our vision is to become the global leader in carbon-reduction technologies,” said Kim Grøn Knudsen, chief strategy and innovation officer. “Net zero by 2050 as set out in the Paris Agreement can only be achieved through a joint effort between companies, countries and citizens. But we need to focus on ourselves as much as on our customers. By moving first and demonstrating that an energy-intensive company such as Topsoe is ready to do what it takes to achieve these ambitious targets, we hope to inspire others in the industry to set bold targets to create a more sustainable future.”

Roeland Baan, CEO of Topsoe, added, “Our commitment to reaching net zero in our entire value chain builds on our aim to reduce our customers’ greenhouse-gas (GHG) emissions. We already deliver insights, technology and solutions to the entire value chain for low carbon emission fuels and chemicals, so we are uniquely positioned to help our customers and society in this battle against climate change. Our customers expect us to take a lead—and we are doing so.”

Earlier this year, Topsoe announced its ambitious target of reducing its customers’ GHG emissions by 12 million metric tons in 2022. Due to a significant interest in Topsoe’s decarbonization solutions the first half of this year, Topsoe has decided to increase its 2022 target to 16 million tons CO2e. Topsoe aims to achieve the target with its portfolio of renewable fuels and low-carbon technologies for hard-to-abate industries, such as transport, chemicals, steel and cement.

Earlier this month, Topsoe announced a final investment decision on the construction of a 500-megawatt solid oxide electrolysis plant, which will be the world’s largest, in Herning, Denmark. The plant is expected to be operational in 2025.

For more about Topsoe’s sustainability commitments, click here.

Topsoe’s sustainability commitments

The Science Based Targets initiative (SBTi)

• The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. The SBTi call to action is one of the We Mean Business Coalition commitments.

• The SBTi is the lead partner of the Business Ambition for 1.5°C campaign—an urgent call to action from a global coalition of UN agencies, business and industry leaders, mobilizing companies to set net-zero science-based targets in line with a 1.5-degree Celsius future.

Net-zero definition

Setting corporate net-zero targets aligned with meeting societal climate goals means 1) achieving a scale of value chain emissions reductions consistent with the debt of abatement at the point of reaching global net-zero in 1.5-degree Celsius pathways and 2) neutralizing the impact of any residual emissions by permanently removing an equivalent volume of CO2.

About Topsoe

Founded in 1940, Topsoe is a leading global developer and supplier of decarbonization technology, catalysts and services for the energy transition.

Its mission is to combat climate change by helping partners and customers achieve their decarbonization and emission-reduction targets, including those in hard-to-abate sectors such as aviation, shipping and the production of raw materials. From carbon-reduction chemicals to renewable fuels and plastic upcycling, Topsoe is uniquely positioned to help realize a sustainable future.

Topsoe is headquartered in Denmark, with more than 2,100 employees serving customers all around the globe.