- Release of Sika Sustainability Strategy 2023
- Sustainability and CO2 reduction included in the Sika Growth Strategy 2023
- New “Climate Performance” focus area
- “Sika Cares” program for supporting community engagement on local level
- 2019 sustainability-related performance is the baseline for the Sustainability Strategy 2023
DISCLOSURE 102-14: STATEMENT FROM SENIOR DECISION-MAKER
“As a global company, Sika is committed to sustainable development. The company honors its responsibilities by offering sustainable solutions for energy-efficient construction and innovative vehicles. It also implements numerous projects and measures aimed at boosting the Group’s economic, social, and ecological sustainability.”
The Sika Growth Strategy 2023 ensures long-term success and profitable growth. The company's innovative drive combined with sustainability is a key component. The Sustainability Strategy “More Value – Less Impact” refers to Sika’s ambition to maximize the value of its solutions and contributions for all stakeholder groups, while simultaneously minimizing the risks and resource consumption associated with value generation. There is a close alignment between the growth strategy and the sustainability strategy. Sustainability is the overarching principle with the overall goal to reduce the CO2 emissions per ton sold by 12% until 2023.
Sika is continuously improving its environmental protection and safety performance, through its investment planning. In 2020, Sika invested roughly 9% of the total investments of CHF 131.7 million on technical equipment (previous year: 9%).
SIKA’S SUSTAINABILITY STRATEGY
With the Sustainability Strategy “More Value – Less Impact”, Sika pursues six strategic target areas, focusing on sustainable solutions, climate performance, community engagement, energy, waste/water, and occupational safety.
With the adoption of the Paris agreement, governments worldwide agreed to limit global warming to well below 2°C and to pursue efforts to limit it to 1.5°C. Global GHG emissions must peak and be subsequently reduced by the middle of the century in order to deliver on these goals. Consequently, in a first step Sika has been focusing on reducing its scope 1 and scope 2 GHG emissions by investing in high-impact efficiency improvements of production processes. It is the ambition of Sika to increase the coverage of scope 3 GHG emission data collection and reporting. At the end of the reporting year, the company started to prepare a road map to define and process science-based targets covering the entire value chain. Furthermore, within the framework of reporting according to the TCFD recommendations the company identified climate-relevant risks at operation level and is considering transition and physical risks along its value chain.
In 2021, the company will conduct a GHG scope 3 baseline assessment. This includes a materiality assessment of the relevant carbon-related scope 3 activities and will enable the identification of the material scope 3 categories as defined in the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard. Based on this analysis, Sika will quantify the GHG emissions per material scope 3 category and define a carbon reduction pathway to reach net zero in the long-term.
More details are available at https://www.sika.com/en/about-us/ sustainability/sika-sustainability-strategy.html
To integrate with other stakeholders and reinforce commitments, Sika signed up to the UN Global Compact.