Acceleratee

Let’s stop subsidizing the past and accelerate towards a climate-neutral society

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Time to rethink the big picture

Did you know that we need to reduce our global greenhouse gas emissions from the current 55 billion tonnes of CO₂ a year to 8.5 billion tonnes of CO₂ a year by 2050 if we are to reach the Paris agreement’s target of a maximum increase of 1.5 degrees? And that we need to achieve half of this reduction already by 2030. That’s just eight years away.

The good news is that these savings are achievable if we accelerate vital changes in how we produce and consume. Biotechnology holds one of the most promising keys: it’s already changing the proteins we eat, replacing fossil- based ingredients in detergents we use, improving the transportation fuels we rely on and optimizing the way we capture carbon – the list goes on.

Every day we are accelerating these changes together with our industry partners – as are our other great colleagues within green technologies. But we could move even faster. The world urgently needs investments, incentives, and the right policy framework to scale sustainable solutions fast.

At Novozymes we are advocating for a rethink of our economy: it needs to be good business to do green business – Let’s work together as businesses, organizations, and governments to step up and make bold decisions for a better tomorrow.

“

With biotechnology, we can
improve something very
fundamental: how we produce
and how we consume.

”

Ester Baiget

CEO of Novozymes

“

With biotechnology, we can
improve something very
fundamental: how we produce
and how we consume.

”

Ester Baiget

CEO of Novozymes

Watch Ester explain more

Every tonne counts

55 billion tonnes of CO₂ equivalents - that was the amount of greenhouse gasses we emitted into our atmosphere in 2021. That’s the same weight as 10,000 Giza pyramids. If we focus only on the big number, reducing these emissions can seem an overwhelming task.

But if we break it down, and use available technology – such as biotechnology - we can accelerate towards a climate-neutral society.

We need collaboration for the Paris agreement to succeed

Half of the total reductions we need have
to be made by 2030

Measured in million tonnes of CO₂

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We emit billions of tonnes of CO₂ into our atmosphere every year - last year it was 55 billion tonnes. To reach the Paris Climate Agreement’s target of a maximum increase of 1.5°C, we need to act fast and we need to act together. Our emissions must be reduced to 8.5 billion tonnes of CO₂ by 2050. And we need to achieve half of this amount by 2030 - that’s just eight years away.

We need governments, businesses and investors to step up and work together to take the action climate science demands. Knowledge is key.

That’s why we’re constantly working to learn more from our partner organizations and our customers.

Together we’re finding new and better ways to use biotechnology solutions to accelerate towards a climate-neutral society.

Examples include:

Helping companies reach their own climate and net-zero targets

We help our customers and partners to use biotech to reach their net-zero targets. We also provide insights to help shape industry standards.

Advocating for clear emissions reduction markets and frameworks

“Carbon pricing” and “carbon taxation” cuts across many industries. They’re essential to ensure the economic and financial foundations needed for a rapid transition to climate neutrality. We advocate for clear and ambitious frameworks to guide business and support investments.

Helping countries see the potential of biotech

Each country has its own climate target and action plan. These Nationally Determined Contributions (NDCs) are investment, industry and policy plans updated every five years. We work with countries to show how NDCs can fulfill their potential and how biotechnology can help.

Our global partnerships for climate action

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International Chamber of Commerce

UN Global Compact

Science Based Targets Initiative

The B Team

The World Economic Forum

The United States Council for International Business

Danish Government Climate Partnerships

The Brazilian Bio Innovation Association

Scoping the future

When talking about greenhouse gases (GHG) emissions, scope is the buzz word on everyone’s lips.

Here is a breakdown of scopes 1, 2 and, 3 and how they look for Novozymes.

Hover over the three Scope areas to see the categories.

Scope 1

Direct GHG emissions that occur from sources controlled or owned by an organization

At Novozymes, our Scope 1 is a small percentage of total emissions, and our largest emission source is via the use of natural gas in our production facilities.

Scope 2

Indirect GHG emissions associated with purchased energy

This includes gases associated with the generation of purchased electricity, steam, heating and cooling. At Novozymes, the largest contributor to our Scope 2 is our electricity consumption, and we have committed to source 100% Renewable Electricity by 2030.

Scope 3

All other GHG emissions resulting from activities not owned or controlled by Novozymes, but which we impact in our value chain

Scope 3 is also referred to as value chain emissions. These can look very differently depending on the nature and location of a business. At Novozymes, it represents the majority of our total GHG emissions.

The following emission sources are the ones most material to Novozymes:

• Purchased goods and services

• Other energy-related activities not included in Scope 1 or Scope 2

• Transportation paid by Novozymes

• Business travel

Leading the way
with Science-Based Targets

The Science-Based Targets initiative provides a clearly-defined pathway for companies toreduce greenhouse gas (GHG) emissions and reach net zero by 2050. Climate action is an integral part of Novozymes’ business strategy. We have been leading the way for many years. We were among the first few companies to set a validated Science-Based Target in line with the 1.5°C pathway.

As of November 2022, Novozymes is amongst the first group of companies in the world to have committed to SBTi’s new Corporate Net-Zero Standard by having a net-zero by 2050 science-based target verified by the SBTi. While more than 2,000 companies have SBTi commitments, only about 85 companies have a net-zero science-based target verified by SBTi as per October 25, 2022.

Being a manufacturing company, we have significant climate impact in our value chain. That’s why our science-based targets cover scopes 1, 2 and 3. We’re fully committed to a net-zero future across all three scopes. There’s no time to waste.

Novozymes commits to reach net zero GHG emissions across the value chain by 2050 from a 2018 base year. Near-Term Targets: Novozymes commits to reduce absolute scope 1 and 2 GHG emissions 75% by 2030 from a 2018 base year*. Novozymes also commits to increase annual sourcing of renewable electricity from 37% in 2018 to 100% by 2025. Novozymes further commits to reduce absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation and distribution, waste generated in operations and business travel 35% by 2030 from a 2018 base year. Long-Term Targets: Novozymes commits to reduce absolute scope 1 and 2 GHG emissions 90% by 2050 from a 2018 base year*. Novozymes also commits to reduce absolute scope 3 GHG emissions from purchased goods and services, fuel and energy related activities, upstream transportation and distribution, waste generated in operations and business travel 90% within the same timeframe. *The targets boundary includes biogenic emissions and removals associated with the use of bioenergy.