BASEL, Switzerland: December 22, 2015. Panalpina is the only 3PL to have joined the Science Based Target initiative - made up of 114 companies who have committed to carbon emission reduction goals set by the Intergovernmental Panel on Climate Change.
The initiative, a joint effort of the Carbon Disclosure Project (CDP), UN Global Compact, World Resources Institute and WWF, only approves corporate targets that meet its strict criteria. The targets must cover a minimum of five years and companies are encouraged to develop long-term goals as well. Panalpina said it is going to set its science-based emissions targets in the first half of 2016.
According to the IPCC, global greenhouse gas emissions must be cut by up to 70 percent by 2050 to limit global warming to 2 °C or less to avert irreversible climate change.
The company has also announced its highest score – 94 percent – in the latest CDP supply chain survey where 66 member companies, representing more than US$1.3 trillion in procurement spend, ask their suppliers to provide detailed information about their environmental impact, management systems and performance metrics.
"We are very pleased with our latest CDP score," said Lindsay Zingg, Panalpina's global head of quality, health, safety and environment (QHSE). "We've responded to CDP climate impact surveys every year since 2009, showing improvement each year. Today, we better understand how our activities impact the environment. Moving forward, we want to continue to steadily decrease this impact."
Almost 3,000 participants responded to the CDP and Panalpina said its score is a nine-point improvement on last year – and significantly higher than the average supplier's score of 60.
"Companies like ours should support the global effort to mitigate climate change," added Panalpina's CEO Peter Ulber. "Besides, continuously extending our commitment to sustainability and setting ambitious targets is in Panalpina's own interest; as it can help drive innovation and secure a long-term competitive advantage."