Siegwerk commits to carbon neutrality

Company submits letter to science-based targets initiative

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Siegwerk
Siegwerk has signed a commitment letter for the Science-Based Targets initiative

Siegwerk, a leading global provider of printing inks and coatings for packaging applications and labels, has signed a commitment letter for the Science-Based Targets initiative (SBTi) and is the only major inks manufacturer to do so to date.

The SBTi calls on companies to demonstrate their commitments to mitigating climate change by publicly pledging to reduce their greenhouse gas emissions with science-based targets. A target is considered science-based if it is in line with the level of decarbonization required to keep the global temperature increase below 1.5°C compared with preindustrial levels. The Science-Based Targets initiative is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund For Nature (WWF). It has already signed up over 4,000 companies, with Siegwerk being the first major international ink manufacturer to join the initiative.

Siegwerk has accelerated its commitment and action towards decarbonization rapidly, so joining SBTi is the next logical step,” said Alina Marm, global head of Sustainability and Circular Economy at Siegwerk. “We recognize the importance of adhering to the latest science when setting our decarbonization targets, and acknowledge the important role businesses play in mitigating climate change and our own impacts on the environment.”

Siegwerk is committed to setting science-based targets as well as net-zero targets, including a long-term science-based target. The company is expecting to submit these targets to the SBTi in the first half of 2023. In doing so, Siegwerk will be part of the business ambition for the 1.5°C campaign and the race to zero campaign, aiming to reduce emissions in line with a trajectory to keep the global temperature increase to 1.5°C.

As a leading inks and coatings manufacturer, Siegwerk uses its position in the packaging value chain to drive positive change beyond its own operations. Within its HorizonNow sustainability initiative, it has set seven ambitious measurable targets to be achieved by 2025. They are based on the United Nations Sustainable Development Goals (SDG) and touch all aspects of the business. These include, among others, achieving carbon neutral scope 1 and 2 emissions globally, establishing product environmental footprint data for 100% of Siegwerk products, and achieving a minimum gender representation at the executive level of 15 percent. In this way, Siegwerk clearly affirmed its position in pioneering sustainability and climate leadership for the industry.

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

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