GHG Emissions, Industrial  -  August 4, 2021

ICL Releases 2050 Carbon Neutrality Plan

ICL announced Aug. 2 in a newly released corporate responsibility report its intention to be carbon neutral by 2050.

The minerals company also plans to reduce its absolute greenhouse gas emissions 30% between 2018 and 2030 and to source 50% renewable energy by 2040. To achieve these targets, ICL intends to reduce emissions from various industrial processes, phase out oil shades, replace refrigerants and implement a multi-year plan of energy efficiency projects.

By the end of 2020, the company had already reduced Scope 1 and 2 emissions 10.5% since 2018 and 7% between 2019 and 2020 alone. Most of this reduction came from a decrease in Scope 2 emissions through the use of renewable electricity in its European sites.

“We are on a mission, transforming from a company that extracts minerals to a company that uses its minerals to create sustainable solutions for humanity. Our vision includes ambitious sustainability goals aimed at addressing the major challenges facing society and the global environment,” Raviv Zoller, president and CEO of ICL, said in a statement. “As an industry leader in ESG, ICL is committed to becoming carbon neutral by 2050 and, in an effort to provide increased transparency regarding all sustainability issues, we are adopting TCFD reporting, beginning with our 2021 fiscal year.”

To further decrease its emissions through energy efficiency projects, ICL plans to phase out inefficient production technologies, streamline production facilities and increase the efficiency of its heat and steam consumption.