International. Kingspan Group has been included in CDP's Supplier Engagement Leaderboard.
The Carbon Disclosure Project (CDP) is one of the great international benchmarks of ESG criteria, also known as environmental, social and corporate governance. The ranking of leaders, which this organization makes, is based on rating applicants by a series of factors related to: governance and objectives, Scope 3 emissions and commitment to the value chain.
To enter the CDP evaluation process, Kingspan had to answer a specific questionnaire, which seeks to determine how effectively it involves its suppliers in strategies to mitigate climate change. It should be noted that this year only 8% of the companies that completed the questionnaire managed to enter the table.
Kingspan's Environmental Commitment
In addition to its entry into the Supplier Commitment Leaderboard, Kingspan has committed to reducing absolute Scope 1 and 2 GHG emissions by 90% by 2030, starting in 2020 as a base year, it has also agreed to reduce absolute Scope 3 GHG emissions by 42% in the same period.
These targets are aligned for the company to contribute to the scale of reductions needed to keep global warming below 1.5°C, relative to pre-industrial levels, as suggested by the Paris Agreement.
Sonya Bhonsle, Managing Director of Value Chains and Regional Director of Corporations at CDP, commented that according to data from her organization, companies lack clarity when it comes to assessing their indirect impacts and engaging with suppliers to reduce them, in the same way, that they must act urgently in a staggered manner and manage environmental impacts throughout their supply chains.
"Kingspan is a pioneer driving the transition to a sustainable net-zero future."
Bianca Wong, Kingspan's Chief Sustainability Officer, said reducing the embodied carbon from its products and supply chain is not only critical to its business, but critical to the planet, adding: "Open dialogue and continued strong engagement with our suppliers are crucial to enable us to meet our Scope 3 GHG emission reduction targets."
More about CDP
The Carbon Disclosure Project is a non-profit organization established in 2000 that operates globally. Its purpose is to encourage investors, companies, cities and governments to contribute to the construction of a sustainable economy, through the measurement and optimal management of their environmental impact.
It is defined as "the gold standard of environmental reporting with the richest and most comprehensive dataset on corporate and urban actions."
According to its 2020 CDP Latin America activity report, more than 9,600 companies with close to 50% of the global market capitalization disclosed their environmental data through its platform that same year. Which accounts for its relevance and the volume of information it manages.
