Solvay targets carbon neutrality before 2050

• All businesses other than soda ash to achieve carbon neutrality by 2040 with an investment up to €1 billion
• Soda ash to complete carbon neutrality before 2050 with identified investments of approximately €1 billion by 2040
• Investments expected to generate compelling economic returns
  
  

Brussels, October 28, 2021

Solvay announced today its plans to reach carbon neutrality before 2050¹. This represents the next stage in the company’s ongoing sustainability journey and builds on the 2030 targets set out in its sustainability roadmap, Solvay One Planet, launched in January 2020. As part of its roadmap, Solvay is upgrading its greenhouse gas emissions reduction target to -30% by 2030 (from -26% initially).

Meeting carbon neutrality in the future requires Solvay’s investment in innovation today. Solvay will focus its efforts on maximizing electrification and clean energy, such as solar power and sustainable biomass use across its plants, as well as facilitating process innovations. Furthermore, the infrastructural, regulatory and macroeconomic levers enabled by public policies will be a critical component in Solvay's investment decisions in order to achieve these ambitions. Partnerships with authorities and other stakeholders will be key drivers towards an affordable and competitive transition to cleaner energy across Solvay's entire value chain.

Ilham Kadri, CEO of Solvay, said: “Since the launch of Solvay One Planet, we have delivered against the Paris Agreement and today’s carbon neutrality announcement is yet another milestone in our journey, including our decision to phase out coal in the second soda ash plant in just two years. Our new carbon neutrality roadmap, backed by meaningful investments, will prove yet again that targeted action on climate is good for the planet and good for business — and we will continually report progress against these targets. At the same time, we are preparing our scope 3 commitments with the Science-Based Targets initiative (SBTi). We believe that sustainability is profitability, and we will continue to develop our innovation pipeline to deliver the sustainable solutions our customers need for tomorrow's future technologies in areas such as electrification, lightweighting and green hydrogen.”