Climate transition plan
Sustainability at Comet covers a broad range of priorities. While social and governance aspects are equally important to us, we are deeply committed to contributing our share to reducing emissions and, in doing so, playing an active role in the fight against climate change. We have developed a climate transition plan in line with Swiss law, including targets for greenhouse gas (GHG) emissions, specifying activities to reduce emissions within our own operations and across the entire value chain, as well as considering alternative approaches for transitioning to a low-carbon economy. The climate transition plan additionally addresses the mitigation of transition risks, which for many companies represent the primary climate risks, and considers seizing opportunities arising from a global climate transition. All aspects of the climate transition plan are detailed in this report. The TCFD index provides an overview of the content.
Climate roadmap and targets
The goal of reducing Switzerland’s GHG emissions to net-zero by 2050 is established by the revised CO2 Act. Achieving net-zero by 2050 means that within the country, no more greenhouse gases (GHGs) are emitted than can be removed from the atmosphere within Switzerland or offset in other parts of the world. This target is a cornerstone of Swiss climate policy, aiming to limit global warming to well below 2 °C, and ideally 1.5 °C, compared to pre-industrial levels, in line with the Paris Agreement. The Swiss CO2 Act obliges companies to support Switzerland’s climate ambition by implementing the respective transition measures toward net-zero GHG emissions by 2050.
We are fully committed to aligning our global activities with Swiss climate policy as a minimum standard and contributing to mitigating climate change in accordance with the Paris Agreement. This not only entails our own long-term objective to reach net-zero emissions by 2050 but a commitment to setting SBTi near-term targets submitted at the end of 2024. This means we will set ambitious targets with a time horizon of the next 10 years. The objectives for Scope 1 and Scope 2 emissions are to align with a global warming trajectory of 1.5°C. Additionally, at least two-thirds of Scope 3 emissions are to be reduced in line with the Below–2°C target of the Paris Agreement.
The commitment to SBTi is intended to frame our existing short- and medium-term goals set out in our climate roadmap, including:
- Scope 1 emissions: Achieving Group-wide ISO 14001 certification for structured environmental target-setting at production sites
- Scope 2 emissions: Increasing clean electricity use to 80% by 2025 and 100% by 2030 (market-based method)
- Scope 3 emissions: Reducing environmental impact through eco-design initiatives embedded in R&D processes across all divisions, while collaborating with suppliers and customers to achieve a sustainable supply chain and align with net-zero commitments
Key impact mitigation concepts
To address the climate challenge, we have identified six key drivers to reduce our carbon footprint across the entire value chain and incorporated them into our structured sustainability program, focusing on:
We seek to achieve an effective reduction of our indirect GHG emissions from the purchase of electricity by procuring from providers using low-emission technologies. We emphasize the term "clean electricity" – our most preferred form of energy – as distinct from "renewable electricity". This focus on clean electricity ensures that our efforts are outcome-oriented and directly aligned with achieving net-zero emissions. While renewable sources such as solar, wind, and hydropower are preferred options, we recognize that relying solely on renewables is not always feasible in every context. In such cases, we also consider other clean electricity sources, including nuclear power, as viable low-carbon options that support reductions in greenhouse gas emissions.
Improving energy efficiency requires identifying meaningful opportunities across operations and the value chain. At Comet, we regularly assess our inventory of equipment, devices, and infrastructure to evaluate potential enhancements. These evaluations consider both environmental and economic factors, enabling us to implement viable replacements, upgrades, and renovations. By extending these efforts throughout our value chain, we aim to maximize energy efficiency, drive innovation, and create sustainable value for our stakeholders.
Comet’s eco-design initiative, launched in 2023, focuses on enhancing the environmental performance of our products. As part of this effort, we conducted pilot projects and gathered ideas to improve energy efficiency and reduce the environmental impact of our offerings. Insights from these efforts reveal that our products offer meaningful potential for emission reductions, particularly through the sourcing and selection of raw materials for production and during the use phase at our customers, such as by optimizing standby modes. Building on these findings, we are systematically integrating eco-design principles and learnings into our R&D processes to ensure that sustainability remains an important element in future product development.
A key element of reducing Comet’s climate impacts is the fostering of strong relationships with our suppliers. Although the carbon footprint of our products remains manageable due to their limited material intensity and relatively low transport volumes, we aim to take proactive steps to drive improvements. In 2025, we will launch a phased approach of first identifying areas where collaboration with our suppliers can achieve meaningful reductions in greenhouse gas emissions. Additionally, we are exploring ways to regionalize our supply chains, which would shorten transport routes and further reduce emissions. We have already achieved initial success by regionalizing the supply chain for our growing Asia hub in Penang, Malaysia. The significant reduction in shipping distances highlights how focused efforts can yield both environmental and operational advantages, serving as a blueprint for future initiatives across our global operations.
Accurate and consistent data collection, analysis, and interpretation are fundamental to understanding our environmental impacts and are the prerequisite for successfully identifying potential improvements. Through rigorous data analysis, we can identify trends, evaluate the effectiveness of current initiatives, and ensure alignment with our long-term sustainability goals. Reliable data also supports transparency and accountability, enabling us to communicate our progress to stakeholders with confidence. By embedding a systematic approach to data management in our sustainability strategy, we ensure that our efforts are not only measurable but also scalable, paving the way for continuous improvement and lasting impact.
Effective progress toward achieving net-zero GHG emissions requires ambitious objectives. We strive to update and expand our existing set of targets and to develop reliable and efficient monitoring processes. Transparent reporting of our progress is our recipe for a strong and trusted Comet brand.
Consideration of risks and opportunities
To estimate our financial exposure and vulnerability to global climate-related developments, the Sustainability Board periodically assesses, refines and validates climate-related risks and opportunities according to the principles recommended by the Task Force on Climate-Related Financial Disclosures (TCFD). Detailed information on our current assessment is provided in the section "Risk management: climate-related risks and opportunities". The section further outlines how we strategically approach our risks and elaborates on Comet’s resilience to climate change and transition.