Oct 16, 2023 7:30 AM
thyssenkrupp Materials Trading offsets emissions of fiscal year 2021/22 through certified climate projects
thyssenkrupp Materials Trading, a subsidiary of thyssenkrupp Materials Services, offsets the CO2 footprint of fiscal year 2021/22 with emission reduction certificates. After carrying out own reduction efforts, the remaining 310 tons of CO2 emissions will be offset with exclusively high-quality carbon removal credits. Each credit corresponds to one ton of permanently removed atmospheric CO2. By investing in carbon credit projects, thyssenkrupp Materials Trading is making an active and voluntary contribution to the climate goals of the United Nations. This was preceded by the introduction of the Voluntary Carbon Credits Desk (VCC Desk for short) in spring 2023. With this milestone, thyssenkrupp Materials Services is the first company in its industry to offer carbon credits.
Emission reduction certificates as a bridging technology for unavoidable residual emissions
The VCC Desk of thyssenkrupp Materials Trading acts as a central contact point and one-stop shop for high-quality emission reduction certificates for the thyssenkrupp Materials Services companies as well as external customers. Its services include the careful selection, procurement, and transparent and orderly closure of carbon credits. The resulting offsetting is relevant for the company's own carbon footprint as well as for the emissions associated with the customer's trading products. To reduce the company's emissions in fiscal year 2021/22 through a voluntary target contribution, thyssenkrupp Materials Trading relies on carbon removal credits through innovative technologies – including the production of insulating materials from carbon-neutral cellulose fibers from renewable sources and the reduction of CO2 emissions through the recycling of thermal waste. The company is also supporting a large-scale conservation project to restore wetlands, which promotes biodiversity and local communities and is in line with twelve of the United Nations Sustainable Development Goals (SDGs).
"The Voluntary Carbon Credit Desk plays an important role in thyssenkrupp Materials Services' sustainability strategy 'BEYOND', which goes beyond meeting internationally recognized ESG criteria. With our offer, we not only support our customers in achieving their sustainability goals, but also benefit as a company. While reduction targets must be at the forefront of every company's mind, and thyssenkrupp is committed to SBTI, for the foreseeable future there will remain residual emissions that are difficult to avoid or unavoidable. Here, carbon credits are a sensible measure to make an additional contribution," says Wolfgang Schnittker, CEO of thyssenkrupp Materials Trading.
thyssenkrupp Materials Trading is an international trading and service company headquartered in Essen, Germany. The product range includes raw materials such as alloys, non-ferrous metals, minerals, coke, coal and ores, various raw materials for future technologies, metallurgical products such as steel and pipes, pipe accessories, finished steel and stainless steel, as well as trading with new and used industrial plants, machine tools, spare parts and construction elements for hydraulic steel engineering and the offshore sector, and material and logistics services of all kinds. The range is rounded off by customized offers including financing and shipping.