Energy Efficiency, GHG Emissions, Industrial  -  August 21, 2024

Hexagon Composites' Goals Validated by SBTi

Hexagon Composites announced its net zero targets were validated by the Science Based Target initiative (SBTi).

The company — which specializes in composite cylinder technology and systems for storage and transportation of clean gaseous energy — committed to being net zero by 2050. Being a provider of solutions that help fleets and original equipment manufacturers transition to low-carbon and carbon negative solutions, Hexagon recognizes the importance of reducing its own carbon footprint.

"We are pleased to have received the approval of our science-based net zero targets by SBTi," said CEO Jon Erik Engeset in a statement. "While we enable other industries to accelerate the pace of their emission reductions, we are committed to doing our part to reduce the environmental impact of our operations and support the 1.5-degree target."

In line with the 1.5-degree trajectory, Hexagon plans to reduce its direct emissions by 2033 and work with partners and suppliers to be net zero across its value chain by 2050.

By 2033, Hexagon committed to lowering 54.6% of absolute Scope 1 and 2 emissions and 61% of Scope 3 emissions per cubic meter of container volume sold.

By 2050, Hexagon commits to reducing 90% of absolute Scope 1 and 2 GHG gas emissions and 97% of Scope 3 emissions per cubic meter of container volume sold.

Hexagon will report its progress on a regular basis.