BEWI ASA: BEWI's near-term climate reduction targets validated by the Science Based Targets initiative

BEWI's near-term climate reduction targets have been validated by the Science Based Targets initiative (SBTi), confirming that the targets are aligned with climate science and the 1.5-degree scenario outlined in the Paris Climate Agreement.

"Having our near-term climate reduction targets validated by SBTi is an important achievement for BEWI," says Camilla Bjerkli, Chief Sustainability Officer of the BEWI group. "It confirms that our targets are aligned with climate science and reinforces our commitment to delivering measurable, transparent and accountable emission reductions across our value chain."

BEWI has committed to reducing its scope 1 and scope 2 greenhouse gas emissions by 42 per cent by 2030, with 2023 as the baseline. To achieve the targets, the group has ongoing initiatives across the organisation to enhance energy efficiency and increase use of renewable energy sources, in addition to continuous operational improvements to secure the emission reductions.

In addition, BEWI targets to reduce its scope 3 emission intensity by 51.6 per cent by 2030, measured as emissions from purchased goods and services and the end-of-life treatment of sold products per tonne of raw material used. This supports the group's ambition to continue to grow through circular solutions, improved material efficiency, and closer collaboration across the value chain.

"Many of our customers have their own science-based climate commitments. We support them with products with lower emissions, and transparent, reliable data that enable them to meet their targets," Camilla ends.

The Science Based Targets initiative (SBTi) is an organisation that enables companies to set greenhouse gas emission reduction targets in line with the latest climate science. It is a partnership between CDP, the United Nations Global Compact, the We Mean Business Coalition, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and provides independent validation of corporate climate targets.

Contacts:

Charlotte Knudsen, Chief Communications and IR Officer BEWI ASA, tel: +47 97561959

About BEWI

BEWI is a leading European provider of packaging, components, and insulation solutions. Through a circular business model, the group produces raw materials and end goods, while collecting and recycling used materials into new products.

BEWI's core offering is circular packaging and energy-efficient solutions for the building sector. The group has ambitious targets for profitable growth and for decarbonising both its customer offering and own operations through increased use of recycled materials and renewable energy sources. Innovation and industry partnerships, as well as BEWI's people and culture, are integral to driving long-term value creation.

With its vision to protect people and goods for a better everyday, BEWI is "leading the change" towards a circular economy.

BEWI ASA is listed at the Euronext Oslo Børs under ticker BEWI.