Fuchs SE, a leading provider of lubricant solutions, has been honoured with the Handelsblatt “Lighthouse Tribute” Global Transition Award due to its ongoing progress in helping to address climate change.
The company said in a press release that it is relentlessly pursuing the target of reducing its Scope 1 and Scope 2 emissions, as well as the Scope 3 emissions from its value chain. It says it has made considerable progress in this since 2011, with it further reducing Scope 1 and 2 emissions by 20% between 2021 and 2023.
Fuchs Executive Board’s Chairman Stefan Fuchs said the award didn’t come out of nowhere. The company is committed to its transformation towards climate neutrality through its FUCHS2025 programme.
Nevertheless, there is still work to be done, and Fuchs’ CTO and executive board member, Dr. Sebastian Heiner, said:
“Net zero will only become a reality if the entire value chain is designed to be emission-free. We are focusing intensively on areas where we can exert direct influence and communicate clearly and transparently the contribution that our partners along the value chain need to make.”
Fuchs is already sourcing most of its energy requirements for lubricant production from renewable generation, with the aim of converting all its sites to exclusively use green electricity.
The company aims to achieve net-zero for its operational (i.e., Scope 1 and 2) emissions by 2040. It also intends to reduce its Scope 3 emissions by using biologically sourced raw materials and recycling old products rather than using products based on virgin fossil fuels.
