In 2018 we conducted a materiality assessment to identify sustainability topics of most concern and importance to our stakeholders. Out of 150 stakeholders providing input, 84% of respondents were internal, spread across departments, regions and hierarchy, and 16% were external, comprising customers, OEMs and suppliers.
In 2020, we worked with a third party to update and benchmark our materiality assessment. We looked at customers, competitors, peers and industry standards. This led to us adding four new topics to the original list. The benchmarking revealed GHG emissions and health and safety as leading topics.
This process helped us to identify 6 priority areas covering the most material topics. We then mapped these topics against the UN’s Sustainable Development Goals (SDG). The UN goals where we feel we can make the greatest impact are SDG 3, 12, 13 and 17.
In 2020 we defined our ambitions for each of our priority areas. They look to the future and take a long-term perspective to help us track our progress. They are specific, measurable and time-based.
2022 performance and highlights
- 14% reduction in scope 1 and 2 GHG emissions since 2018
- We defined our net zero ambition and decarbonisation roadmaps
- Sustainability assessments were carried out on 58% of relevant supplier spend
- Sustainability evaluation carried out on our full product portfolio
- 16% of colleagues participated in voluntary community activities
Launching our net zero ambition
Beyond our efforts to reduce 2025 operational scope 1 and 2 GHG emissions intensity by 20%, in 2022, we defined our ambition to support the Paris Agreement’s GHG emissions reduction trajectory and reach net zero for our scope 1 and 2 GHG emissions from our operated assets, by 2050. We have set a provisional roadmap for achieving a 50% reduction in emission intensity by 2030, against a 2018 baseline. We are working with energy providers and site partners to expand solar farms, improve our renewable energy mix and optimise our facilities. Capital investment in Infineum’s manufacturing facilities will continue, particularly for our ambitions beyond 2030.
Infineum is committed to helping its customers achieve their GHG emissions objectives. Infineum expects that its efforts could reduce scope 3 emissions by about 20% by 2030 while still meeting society’s demand for its products. To support this, scope 3 upstream and downstream emissions have been characterized using the GHG Protocol Scope 3 Standard. Infineum is working with its upstream suppliers to increase efficiency and improve energy mix. This is expected to result, for example, in the use of re-refined base oils in the manufacture of Infineum products and increased incorporation of renewable raw materials. Infineum is
setting a scope 3 ambition to help drive the necessary innovation and investment in its industry towards increasing the supply of products with lower GHG emissions.
The extent of ultimate achievement of the above ambitions could vary depending on various factors, including Infineum’s ability to execute operational objectives, supportive changes in laws and regulations, and other market factors. See CAUTIONARY STATEMENT for more details.