FUCHS to be CO2-neutral globally by 2020
FUCHS PETROLUB, the world's largest independent lubricant group, is setting a clear signal for global climate protection. From January 1, 2020, the company will manufacture completely CO2-neutral - a further milestone in FUCHS' sustainable development.
From 2020, the 58 FUCHS locations worldwide will be CO2-neutral - from energy consumption in production to consumables in administration.
In order to implement CO2-neutrality as early as 2020, FUCHS will offset its CO2 emissions, which have not yet been avoided so far, with compensation measures. This will be done by the company investing in high-quality climate protection projects aimed primarily at promoting renewable energies. The projects are accredited, approved and monitored according to internationally recognized certification standards such as the Gold Standard as well as by renowned organizations such as the United Nations (UN). The validation of the project results with regard to the CO2 savings achieved is verified by independent testing bodies such as TÜV.
"FUCHS' CO2-neutrality strategy is embedded in our sustainability strategy, which we launched ten years ago. In this way, we are taking responsibility for global climate protection," says Stefan Fuchs, Chairman of the Executive Board of FUCHS PETROLUB SE, "and making an important contribution to achieving the goals of the UN climate protection agreement ratified in Paris in 2015." This agreement aims to limit global warming to well below two degrees Celsius compared with pre-industrial levels.
"When selecting projects, our focus is on climate protection projects that support economic, ecological and social development worldwide in regions with FUCHS locations. In this way we fulfill our global social responsibility in the sense of corporate citizenship," adds Fuchs. At the same time FUCHS also supports the 17 sustainable development goals of the UN to which the company has officially committed itself since 2018.
"But it is also clear that this form of CO2 offsetting will merely support and not replace our ongoing efforts to globally reduce our (avoidable) CO2 emissions," says Apu Gosalia, Chief Sustainability Officer and Vice President Global Intelligence. For example, energy-consumption-specific CO2 emissions per ton of FUCHS lubricant produced have already been reduced by a total of around 30% since 2010.
In the medium term, FUCHS intends to gradually reduce its carbon compensation payments and increase its share of renewable energy supplies while continuing to invest in improving the energy efficiency of its locations. In the long term, the company also aims to sell CO2-neutral products to its customers. However, this also requires that FUCHS will in the future be supplied with CO2-neutral raw materials by its suppliers. Only in this way FUCHS, as a CO2-neutral lubricant company, can offer its customers CO2-neutral lubricants from CO2-neutral production.
In addition, FUCHS joined the "Alliance for Development and Climate" of the Federal Ministry for Economic Cooperation and Development (BMZ) last month as an official supporter. The members of this alliance, which combines climate protection and sustainable development, strive for climate neutrality by avoiding, reducing and offsetting CO2 emissions at the same time.
Mannheim, October 18, 2019
FUCHS PETROLUB SE
Friesenheimer Str. 17
68169 Mannheim, Germany
Tel. +49 621 3802-1104
The following information material is available online:
FUCHS to be globally CO2-neutral from 2020 / FAQs:
FUCHS sustainability milestones:
The FUCHS Group develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. The company, which was founded in Mannheim in 1931, employs around 5,500 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. Its most important markets in terms of sales revenues are Western Europe, Asia and North America.
This press release contains statements about future developments that are based on assumptions and estimates by the management of FUCHS PETROLUB SE. Even if the management is of the opinion that these assumptions and estimates are accurate, future actual developments and future actual results may differ significantly from these assumptions and estimates due to a variety of factors. These factors can, for example, include changes in the overall economic climate, changes in procurement prices, changes in exchange rates and interest rates, and changes within the lubricants industry. FUCHS PETROLUB SE provides no guarantee that future developments and the results actually achieved in the future will match the assumptions and estimates set out in this press release and assumes no liability for such.
18.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de