Solvay

Diversified Chemicals / Specialty Chemicals

SOLB.BR

€ 105 0.24

Share price

$ 12 bn

Market Cap

$ 13 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

23x the weighted average for S&P 500

FY2022

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

Weaker than the -8% weighted average for S&P 500

FY2023

Solvay aims to reduce Scope 1 + 2 by 30% by 2030 from a base year 2018

<2°C

Secondary Climate Goal

Proj. YOY change in GHG emissions (all Scopes)

Weaker than the -6.5% weighted average for S&P 500

FY2023

Solvay aims to achieve carbon neutrality for all Scopes by 2050

This target has not been verified as science based according to SBTi

GHG emissions and Carbon intensity

Solvay reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2022 at 10,300 Kt (-700 /-6.4% y-o-y). Also positively, carbon intensity plummeted to 607 t (-203 /-25.1% y-o-y).

Solvay's Scope 3 emissions decreased to 24,200 Kt (-1,600 /-6.2% y-o-y). The rate of decline has slowed vs. the previous periods (CAGR -7.2% since 4Q'19).

The company is committed to reducing Scope 1 + 2 by 30% by 2030 from a base year 2018, which translates into the estimated reduction of -211 Kt per annum over the period of FY2023 - FY2030. This science-based target is aligned with Paris Agreement to limit global warming to <2°C above pre-industrial levels.

Also, the company commits to achieving carbon neutrality for all Scopes by 2050, which translates into the estimated reduction of -1,232 Kt per annum over the period of FY2023 - FY2050. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Solvay aims to achive carbon neutrality across its entire value chain (all Scopes) in 2050. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2022Q4	10,300	9,200	1,100	24,200	16,962	607
2021Q4	11,000	9,600	1,400	25,800	13,571	811
2020Q4	10,100	8,900	1,200	28,800	11,375	888
2019Q4	12,000	10,600	1,400	32,600	12,618	951
2018Q4	12,300	10,400	1,900	9,220	13,358	921
2017Q4	12,300	10,200	2,100	9,820	12,399	992
2016Q4	13,400	10,900	2,500	10,020
2015Q4	14,200	11,400	2,800	11,920