The CO2NetZero Programme

Since 2021, we have been steering GHG emissions in our own operations through the CO2NetZero Programme. The programme consists of a dual strategy of reducing GHG emissions to the greatest extent and as swiftly as possible, and gradually moving from carbon avoidance to carbon removal to compensate the remaining emissions in scope¹. The action plan for the programme is encapsulated in the motto “Do our best, remove the rest".

We focus on reducing GHG emissions within our own operations by setting targets guided by science-based standards. We have set interim targets for Scope 1, Scope 2 and Scope 3 – category 6 (business air travel) up to 2030:

• Reduce absolute Scope 1 GHG emissions of own operations by 53% by 2030 (base year 2018)
• Maintain 100% renewable electricity use in our operations²
• Reduce absolute GHG emissions from business air travel by at least 60% in 2026 and 2027 (in each case relative to base year 2018)

In addition, we continue to purchase and retire carbon avoidance and carbon removal certificates to compensate our remaining operational emissions in scope¹, linearly increasing the carbon removal share from 0% in 2020 to 100% in 2030.

Carbon Steering Levy

We place a linearly increasing internal price on carbon (Carbon Steering Levy, CSL), which serves as an overarching element of the CO2NetZero Programme. The CSL is a real carbon price charged to the Business Units and Group Functions, encouraging them to cut their emissions and reduce costs – for example by reducing business air travel. 

It is also expected to generate the funds required to cover the cost of carbon certificates used to compensate residual emissions. Higher costs are expected due to the increasing share of carbon removal certificates, which are more expensive than carbon avoidance certificates.

The CSL started at a level of USD 100 per tonne of CO2e in 2021 and will increase linearly up to USD 200 per tonne of CO2e in 2030. In 2026, the levy is set at USD 156 per tonne of CO2e – up from USD 145 in 2025.

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¹  _{GHG emissions in scope for compensation include Scope 1, Scope 2 (market-based) and selected Scope 3 categories (category 3 – fuel- and energy-related activities; category 5 – waste generated in operations; category 6 – business travel; and, within category 1 – purchased goods and services: copy paper and water).}

² _{This renewable electricity procurement target aims to actively source renewable electricity at a rate that is consistent with global climate goals, based on the currently available science-based guidance.}