Renewables to power Boral to net zero
BORAL will shift to renewable energy sources and explore carbon capture and storage technologies on its path to slash its carbon emissions this decade and achieve net zero by 2050.
The building products supplier is targeting a 46 per cent cut in scope 1 and 2 emissions by 2030, as well as a 22 per cent decline in scope 3 emissions, but pointed to the need for new and emerging technologies to help get it to its 2050 goal.
CEO Zlatko Todorcevski said Boral would become a leading innovator in sustainability as it took steps to cut emissions.
“As Australia’s largest integrated construction materials company, we have a unique opportunity to lead the way to make a meaningful contribution to build greener cities and create a net-zero future,” he said.
“We are proud to be the first company in the cement sector to set science-based targets aligned with a 1.5C pathway for Scope 1 and 2 emissions.
“We are redefining Boral’s strategy to become a leading innovator in sustainability by decarbonising our cement and other construction materials businesses and embedding a more circular economy approach.”
The cement supplier’s decarbonisation pathway includes a shift to renewable energy sources, and expanding its lower-carbon concrete offerings, as well as optimising supply chain logistics and routes, exploring alternative fuel fleet options and prioritising lower carbon-intensity suppliers.
Cement is seen as a major contributor to climate change, accounting for about 8 per cent of global CO2 emissions, according to a British report.
“Collectively, our decarbonisation efforts aim to achieve carbon neutrality by no later than 2050 and deliver future growth by reshaping our business to be a leader through decarbonisation,” Mr Todorcevski said. “We have a clear line of sight to deliver on our 2030 targets. Just how we achieve our 2050 ambitions will depend on further development and commercial viability of new and emerging technologies.”