March 27, 2023
(press release)
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Atlantic is excited to announce that the Science Based Targets initiative (SBTi) has approved our science-based targets for reaching net-zero greenhouse gas emissions by 2046! Atlantic Packaging is the first North American packaging company with an approved net-zero target. Atlantic’s Approved Science-Based Targets Overall Net-Zero Target: Near-Term Targets: Long-Term Targets: Why It Matters to Our Customers About Science-Based Targets The necessary reductions to limit the warming are dramatic: as a global community, we need to cut greenhouse gas (GHG) emissions in half by 2030 and reach net zero by 2050. The latest climate science from the Intergovernmental Panel on Climate Change (IPCC) – described by the UN as “code red for humanity” – shows it is still possible to limit global temperature rise to 1.5°C, but we are dangerously close to that threshold. The Science Based Targets initiative (SBTi) emerged as a collaboration between CDP, The United Nations Global Compact, World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) to help the private sector take aggressive climate action. SBTi helps companies determine how much and how quickly they need to reduce emissions. As the name suggests, science-based targets are validated, data-driven commitments showing that a company is doing its part to reach net zero in line with the Paris Agreement. Science-based targets are considered the gold standard in corporate climate action because of the level of validation and the kind of climate action required. SBTi’s net-zero actions focus more on the “zero” and less on the “net” – many companies have relied heavily on carbon offsets to reduce their footprint, which allows them to largely continue business as usual in their operations and supply chain. SBTi has strict requirements that only 10% of net-zero reductions can be achieved through offsets, meaning that companies with science-based targets must truly reduce their operational and supply chain emissions to meet their goals. Additionally, Atlantic’s goals include a commitment that 55% of our suppliers will have science-based targets by 2027. Our suppliers’ emissions fall under our Scope 3 emissions, and so encouraging our suppliers to take climate actions will directly benefit our own reduction goals. Over the last few years, Atlantic has helped some of our suppliers begin their climate journey through the Supplier Leadership on Climate Transitions (S-LoCT) program, which teaches suppliers how to measure, reduce, and set reductions goals for emissions. We’re excited to continue helping other suppliers start this work as well: only with aggressive, collective corporate action can we limit global temperature rise. Atlantic submitted our science-based targets to SBTi in the Spring of 2022. After a rigorous review process that took almost a year, the SBTi has approved our science-based targets! Definitions Science-Based Targets initiative (SBTi): Net-Zero Emissions: Emission Scopes: Scope 1: Scope 2: Scope 3:
By taking drastic action to mitigate climate change, Atlantic is paving the way for the global supply chain to follow suit. Because Atlantic’s Scope 1 and 2 emissions represent our customers’ Scope 3 emissions, reducing and eventually eliminating our emissions will help our customers to reduce theirs. As such, Atlantic’s science-based targets directly benefit our customers in their own emissions reduction goals.
In 2015, the United Nations Framework Convention on Climate Change’s (UNFCCC) Paris Agreement helped governments around the world commit to limiting global temperature rise to well below 2°C above pre-industrial levels. This agreement represented some of the significant global cooperation on climate change made to date.
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