Environmental, Social and Governance (ESG) is a term associated with sustainability and corporate responsibility. Today, ESG and company performance are inherently connected. Recognizing this, companies like Kingspan are embedding sustainability into all facets of operations, manufacturing, product development and strategy and reporting on progress to inject transparency and accountability into sustainability initiatives.
Kingspan is embedding ESG across the company through our Planet Passionate 10-year sustainability program which details our commitment to moving to a clean energy future, managing the earth’s resources more sustainably and protecting our natural environment. To ensure transparency and accountability, Kingspan publishes a report each year on the company’s progress in meeting sustainability targets. In year two of Planet Passionate, Kingspan reduced scope 1 & 2 greenhouse gas emissions from operations by 4.3%, continuing the momentum toward meeting the company’s net zero carbon manufacturing goal.
Developing community-based programs is another way Kingspan provides transparency on our ESG initiatives. Kingspan’s Planet Passionate Communities initiative is operating on a local level to support community sustainability projects and on a global level we have joined forces with GOAL, the international humanitarian response agency, to develop critical infrastructure with sustainability at its core, in healthcare and education.
Third party frameworks and organizations also play a key role in ESG transparency and accountability, tracking company performance and impact.
The Science Based Targets initiative (SBTi) is helping companies like Kingspan publicly declare net-zero targets and report on progress. According to the SBTi, “Science-based targets provide a clearly defined pathway for companies to reduce greenhouse gas (GHG) emissions, helping prevent the worst impacts of climate change and future-proof business growth.” Kingspan has committed to science-based targets covering greenhouse gas emissions from company operations and value chain (scopes 1,2 and 3) that are consistent with reductions required to keep warming to 1.5°C above pre-industrial levels.
Third party validation is provided through SBTi’s independent assessment of each company’s science-based target. Progress in meeting science-based targets is tracked from a base year with the target to be met 5 to 10 years from the base year.
Kingspan is also a member of the CDP (formerly the Carbon Disclosure Project), a global disclosure system that enables companies, cities, states, and regions to measure and manage their environmental impacts.
At Kingspan, every function and role across the organization plays an important part in delivering on our ESG strategy. Sustainability factors into everything we do and how it gets done and we make it a priority to be transparent and accountable every step of the way.