Sustainability at Comet
Climate roadmap
With the Paris Agreement, 196 countries agreed to limit the global temperature increase to 1.5 degrees as far as possible. We are committed to protecting our environment for future generations and thus doing our part to achieve this goal. We have therefore launched numerous initiatives to systematically tackle the process of reducing greenhouse gas emissions.
Our journey to net zero in the long term
Although Comet is not an energy-intensive company, we have embarked on a journey to make our contribution to a livable future on our planet Earth. For this purpose, we have developed a climate roadmap, which essentially comprises the following four steps:
1. General analysis and greenhouse gas (GHG) accounting
- Identification of key emission sources along the value chain
- Scope 1 and 2 emission inventory and Scope 3 emission assessment (relevance check, screening, and inventory)
2. Verification of GHG emission reduction scenarios
- Simulation of near- and long-term science-based reduction pathways for Scope 1, 2, and 3 emissions while integrating our business growth forecast
- Site- and division-specific implementation scenarios: planning of measures and related costs, and feasibility check
3. Target-setting and implementation
- Target-setting for Scope 1, 2, and 3 emissions (Group, divisions, sites)
- Development and execution of the action plan, incl. eco-design approaches (at product level), renewable energy purchasing (at production sites) and energy efficiency measures
4. Science-Based Targets initiative (SBTi) commitment
- Formal commitment to the SBTi
- Validation of targets by the SBTi
- Periodic reporting on progress through our annual report and our disclosure in accordance with CDP and the Taskforce for Climate-related Financial Disclosures (TCFD)
In line with our step-by-step approach, we have developed the climate roadmap in a top-down fashion and also already implemented many initiatives bottom-up, as shown by the reporting on our Scope 1 and 2 CO2 emissions, by the first targets for Scope 2 emissions, and by various measures taken to reduce our carbon footprint. We are aware of the urgency of the issue of climate protection. But we must also recognize that the medium-term Science Based Targets (SBTi) to which we plan to commit, and getting to net zero in the long term, will only be achieved by continuously solving multiple challenges over time and by closely collaborating with our clients, partners, and suppliers.
Focus on analysis and the first implementation measures
To tackle the climate challenge and reduce our carbon emission footprint, the following actions will be the main drivers in our action plan:
In our own operations, we have implemented many major initiatives in the last several years. As an example, we have installed a photovoltaic system in Hamburg, Germany. Also, we operate our plants in Flamatt, Switzerland, Hamburg, Germany, and Taastrup, Denmark, with 100% renewable electricity. Following our approach of taking small steps that are implemented immediately, we have realized many smaller initiatives that contribute to reducing our emissions. (Link)
In terms of Scope 3 emissions, we took the first steps in 2022, by identifying the categories with the highest impact on Comet’s greenhouse gas emissions. This process led to the conclusion that five of the 15 Scope 3 emission categories are responsible for the majority of the GHG emissions:
- Category 1 – Purchased goods and services
- Category 2 – Capital goods
- Category 4 – Upstream transportation and distribution
- Category 9 – Downstream transportation and distribution
- Category 11 – Use of sold products
Based on this analysis, we performed an initial Scope 3 screening with a focus on the categories 1 and 2, for which we estimated the approximate carbon emissions using a spend-based economic input-output method. Not surprisingly, this screening revealed that Scope 3 emissions exceed the sum of Scope 1 and 2 emissions by a factor of six to seven. Further work to refine calculation of Scope 3 carbon emissions is planned for 2023 to achieve better transparency and data robustness. On that improved basis, we plan to develop Scope 3 emission-related initiatives.