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DGAP-News: ​​​​​​​FUCHS extends its carbon neutrality scope

Source: EQS

DGAP-News: FUCHS PETROLUB SE / Key word(s): Sustainability
​​​​​​​FUCHS extends its carbon neutrality scope

19.07.2021 / 11:00
The issuer is solely responsible for the content of this announcement.


FUCHS extends its carbon neutrality scope

With global operations in the lubricants sector, the FUCHS Group has already been operating on a carbon-neutral basis at all manufacturing subsidiaries since 2020. For 2021, all non-production subsidiaries and all joint ventures will now also be included in FUCHS' carbon neutrality - irrespective of the stake held by FUCHS.

FUCHS is thereby setting another milestone while implementing its sustainability strategy, which it has been pursuing for almost ten years. The key here is the objective of carbon neutrality in line with the principle of "avoid - reduce - compensate". FUCHS has already been completely carbon-neutral gate-to-gate at all manufacturing subsidiaries since the start of 2020. This means that all emissions produced in the context of production and operational activities are neutralized - whether energy and water consumption, waste generated, fleet operations or employee travel and commuting. Compensation is not the only instrument for reducing emissions here. In fact, FUCHS is working continuously on reducing both emissions and resource consumption. For example, FUCHS was able to reduce its energy-related emissions per ton of lubricant produced by 26% between 2010 and 2019.

"We consider it extremely important to further improve our corporate carbon footprint and thereby fulfil our responsibility for global climate protection," explains Stefan Fuchs, Chairman of the Executive Board at FUCHS PETROLUB SE. Therefore, with effect from the beginning of 2021, the company has not only been including its manufacturing companies in the calculation and compensation of its carbon footprint, but also the non-producing subsidiaries, as well as all joint ventures.

While joint ventures are typically only included in compensation measures at the level of equity share, FUCHS has chosen to adopt a different approach: Irrespectively of the actual stake held in a joint venture, FUCHS includes 100% of its emissions. "By taking this voluntary step, we want to show just how seriously we take our sustainability goals, while also underlining the importance of maximum transparency and credibility of our carbon balancing measures," reaffirms Markus Garb, Vice President Sustainability.

Although FUCHS is working continuously on reducing and, where possible, preventing emissions altogether, some emissions are simply unavoidable. These are then compensated by purchasing certificates for selected climate protection projects. Increased use of renewable energy is a key focus in this regard, helping to reduce the use of fossil fuels. These include projects such as hydropower in India, Argentina, and China, as well as wind power in Indonesia, an efficient gas-fired power plant for grid stabilization, also in India, and advanced cooking stoves produced locally in Zambia. In some cases, this has even allowed a more stable power grid to be established on a renewable basis in the respective regions. When selecting projects, FUCHS focuses on regions in which it has business operations, prioritizing projects that also pursue social objectives beside certified climate protection.

But it does not end here. In fact, FUCHS is planning to extend its carbon neutrality scope even further from 2025 onwards, when it will also include the entire upstream supply chain (cradle-to-gate). In order to achieve this, extensive preparations are needed throughout the entire lubricants sector. This also includes activities with associations supporting the drafting of respective standards. FUCHS is actively contributing to this development.

Mannheim, July 19, 2021

FUCHS PETROLUB SE
Public Relations
Friesenheimer Str. 17
68169 Mannheim
Tel. +49 (0)621 3802 1104
tina.vogel@fuchs.com

www.fuchs.com/group/

The following information material is available online:

FUCHS story portal EVOLE "The power of the Sun":
https://www.fuchs.com/group/magazine/en/topics/detail/the-power-of-the-sun/

The FUCHS sustainability milestone:
https://www.fuchs.com/group/technology-sustainability/sustainability/milestones-of-fuchs-sustainability/ 

Press release from May 3, 2021: "FUCHS actively reduces carbon footprint by more than 8%":
https://www.fuchs.com/group/press/press-releases/company-business-finances/news-detail/view/5951-fuchs-actively-reduces-carbon-footprint-by-more-than-8/

Press release from October 18, 2019: "FUCHS to be CO2-neutral globally by 2020":
https://www.fuchs.com/group/press/press-releases/company-business-finances/news-detail/view/5059-fuchs-to-be-co2-neutral-globally-by-2020/

About FUCHS
FUCHS develops, produces and markets high-grade lubricants and related specialties for virtually all industries and areas of application. The company, which was founded in Mannheim in 1931, employs around 6,000 people worldwide at 58 operating companies. FUCHS is the world's largest independent lubricant manufacturer. The most important markets in terms of sales revenue are Western Europe, Asia and North America.

Important note
This press release contains future-oriented statements, which are based on assumptions and estimates by the corporate management of FUCHS PETROLUB SE. Even if the corporate management is of the opinion that these assumptions and estimates are true, the future actual development and future actual results may differ significantly from these assumptions and estimates due to a variety of factors. These factors can include, for example, a change in the macroeconomic situation, the procurement prices, the exchange rates and interest rates as well as changes within the lubricant industry. FUCHS PETROLUB SE accepts no guarantee or liability for the future development and the actual results achieved in future matching the assumptions and estimates expressed in this press release.



19.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: FUCHS PETROLUB SE
Friesenheimer Str. 17
68169 Mannheim
Germany
Phone: +49 (0)621 / 3802-0
Fax: +49 (0)621 / 3802-7190
E-mail: ir@fuchs.com
Internet: www.fuchs.com/gruppe
ISIN: DE0005790430, DE0005790406
WKN: 579043, 579040
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange
EQS News ID: 1219852

 
End of News DGAP News Service

1219852  19.07.2021 

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