Borealis is a leading provider of innovative solutions in the field of organic resins. The company is headquartered in Austria and has a global presence, with operations in Europe, Asia, and the Americas. Borealis is committed to sustainability and is actively working towards decarbonisation by reducing its carbon footprint and increasing its use of renewable energy sources.
Borealis has a long history of innovation in the field of organic resins. The company was founded in 1994 as a joint venture between Austria's OMV and Norway's Statoil. Since then, Borealis has grown to become a global leader in the production of polyolefins, base chemicals, and fertilizers. The company's products are used in a wide range of applications, including packaging, automotive, construction, and agriculture.
Borealis is committed to sustainability and is actively working towards decarbonisation. The company has set ambitious targets to reduce its carbon footprint and increase its use of renewable energy sources. Borealis is committed to reducing its greenhouse gas emissions by 50% by 2030 and achieving net-zero emissions by 2050. To achieve these targets, the company is investing in energy-efficient technologies and renewable energy sources.
One of the key ways in which Borealis is working towards decarbonisation is through its corporate energy strategy. The company is committed to reducing its energy consumption and increasing its use of renewable energy sources. Borealis has implemented a number of energy-saving measures, such as energy-efficient lighting, heating, and cooling systems. The company is also investing in renewable energy sources, such as wind and solar power. Borealis has set a target to source 50% of its electricity from renewable sources by 2030.
Borealis is also exploring the use of corporate power purchase agreements (PPAs) as a way to increase its use of renewable energy sources. A corporate PPA is a long-term contract between a company and a renewable energy supplier. The company agrees to purchase a certain amount of renewable energy from the supplier over a fixed period of time. Corporate PPAs can help companies to reduce their carbon footprint and achieve their sustainability targets.
Borealis has already signed several corporate PPAs with renewable energy suppliers. In 2019, the company signed a 10-year PPA with Finnish wind power company Ilmatar Energy. Under the agreement, Borealis will purchase 111 GWh of renewable energy per year from Ilmatar Energy. This will help the company to reduce its carbon footprint by around 50,000 tonnes of CO2 per year.
Borealis is also exploring the use of renewable energy certificates (RECs) as a way to increase its use of renewable energy sources. RECs are tradable certificates that represent the environmental attributes of renewable energy generation. By purchasing RECs, companies can support the development of renewable energy projects and reduce their carbon footprint.
Borealis is committed to sustainability and is actively working towards decarbonisation. The company's corporate energy strategy, corporate PPAs, and use of RECs are all part of its efforts to increase its use of renewable energy sources and reduce its carbon footprint. Borealis is a leader in the field of organic resins, and its commitment to sustainability is setting an example for other companies in the industry.