Major Swiss companies reduce their CO2 emissions
Published: Monday, Aug 12th 2024, 11:20
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Switzerland's largest companies have reduced their CO2 emissions over the past two years. However, progress has varied greatly, as an analysis by the news agency AWP shows.
In 2023, the operational greenhouse gas emissions of the companies in the Swiss Market Index (SMI) were 8.9 percent lower overall than in 2021, with the 20 largest listed Swiss companies emitting a total of 81 million tons of CO2 last year.
However, these emissions are only greenhouse gases that were caused directly by the companies. For example, through the operation of oil heating systems or the company's own vehicle fleet.
Greenhouse gas emissions from the upstream and downstream value chain, which are generated by suppliers and logistics, among others, are significantly higher. At the end of last year, these emissions totalled 256 million tons of CO2, around a quarter lower than two years previously.
Different pace of reduction
Swiss companies are making varying degrees of progress in reducing greenhouse gases. Novartis (-37%) and the sanitary technology company Geberit (-34%) have reduced their operational emissions the most. In many cases, greenhouse gas emissions were reduced through energy efficiency measures and a higher proportion of green electricity.
According to the analysis, only three companies have seen their CO2 emissions rise over the past two years. These were the construction chemicals group Sika (+11%), the logistics company Kühne+Nagel (+6.7%) and the luxury goods group Richemont (+1%).
The operational emissions of the two largest CO2 emitters in the SMI declined: Holcim reduced its greenhouse gas emissions by 7 percent to 80 million tons and Nestlé by 28 percent to 3.5 million tons of CO2. The building materials group attributes this to a lower proportion of clinker in its products, while the food company is using more sustainable raw materials and optimized packaging.
Air travel on the rise
The picture is less clear when it comes to emissions from the upstream and downstream value chain. Although these have fallen on average, this is mainly because major emitters such as Nestlé (-15% to 84 million tons) and Holcim (-11% to 47 million tons) have also reduced their greenhouse gas emissions in the supply chain.
However, these greenhouse gas emissions have increased for half of the SMI companies. This was particularly the case for service companies, where emissions in the upstream and downstream value chain are primarily caused by air travel. These had fallen due to pandemic-related travel restrictions and rose again in 2023.
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