Our goal is to be a CO2e scope 1 and 2 net zero business by 2050. Our 2030 target is to reduce our scope 1 and 2 CO2e emissions by 50% (from a 2015 baseline), and during 2023 we reduced our emissions by 25%. We are now 54% below our 2015 baseline and on track to meet our 2030 goal.
Our scope 1 and 2 CO2e emissions have been reducing, driven by improvements in:
We have a broad-based improvement programme underway covering energy procurement, process improvements and behavioural changes in our plants.
We acknowledge the importance of assessing our value-chain emissions in achieving our long-term sustainability objectives. We plan to collaborate with our key stakeholders and top-tier suppliers to reduce indirect emissions, which is our initial move towards minimising the impact of our product life cycle.
On GHG reporting, we define our organisational boundary on an operational control basis, and we report our scope 1 and 2 emissions on this basis. This implies that we account for 100% of such emissions resulting from operations over which Morgan or one of our subsidiaries has operational control.
Generally, the term scope 3 refers to indirect GHG emissions originating from activities in our value chain, such as upstream emissions linked to raw materials, downstream emissions generated from the products we sell, and emissions from transportation activities upstream and downstream. The scope 3 standard further classifies these emissions into fifteen distinct categories.
Morgan’s greenhouse gas (GHG) emissions, such as carbon dioxide (CO2), are mostly generated by the combustion of fossil fuels at various stages of our manufacturing processes. We track these using a reporting methodology based on the internationally recognised Greenhouse Gas Protocol. This stipulates the source for the global warming potential (GWP) rates that we use to convert non-carbon dioxide emissions into the standard measure of carbon accounting, i.e. carbon dioxide equivalents (CO2e).