Company carbon footprint

RESULTS IN PERCENTAGE OF THE ANALYSIS CARRIED OUT

From the measurement of emissions (CO2) of the Coveme group, according to the GHG Protocol, it emerged that in 2023 the emissions deriving from scopes 1 and 2 represent 11%, while those deriving from scope 3 represent 89% of the total.
It should be considered that scope 3 almost always represents the most important part of a company's emissions. In the case of Coveme, 92% of scope 3 emissions are represented by the purchase of raw materials, in particular polyester film.

RESULTS IN tCO2 OF THE ANALYSIS CARRIED OUT

CFP (Carbon Footprint of a Product) is the sum of greenhouse gas emissions and removals in a product system, expressed as CO2 equivalents and based on a life cycle assessment using the single climate change impact category.

At the Coveme group level, the guidelines of the greenhouse gas (GHG) protocol were followed, which consist of the quantification and categorization of indirect and direct emissions.

During 2023 we quantified the annual greenhouse gas emissions at the level of the Coveme organization group, they were 140.070 tonnes of CO2 equivalent.

The direct emissions and absorptions of greenhouse gases included in Scope 1, according to the ISO 14064-1 standard, are 9,313 tCO2e.
The indirect emissions of imported energy, corresponding to Scope 2, are equal to 6,225 tCO2e.
Scope 3 indirect emissions include all indirect emissions that occur along the company's value chain, both upstream and downstream of the organization and are equal to 125,884 tCO2e.

At the Coveme group level, the guidelines of the greenhouse gas (GHG) protocol were followed, which consist of the quantification and categorization of indirect and direct emissions.

During 2023 we quantified the annual greenhouse gas emissions at the level of the Coveme organization group, they were 141,422 tonnes of CO2 equivalent.

The direct emissions and absorptions of greenhouse gases included in Scope 1, according to the ISO 14064-1 standard, are 9,313 tCO2e.
The indirect emissions of imported energy, corresponding to Scope 2, are equal to 6,225 tCO2e.
Scope 3 indirect emissions include all indirect emissions that occur along the company's value chain, both upstream and downstream of the organization and are equal to 125,884 tCO2e.

NEXT STEPS

During the analysis carried out, all the direct and indirect sources of emissions generated by the company were mapped and measured and thanks to this classification Coveme can now decide which actions to take to try to reduce its emissions.

As a next step, Coveme will draw up a medium and long-term Strategic Sustainability Plan in which the various actions to be implemented in the coming years in the various company areas will be identified.

As a next step, Coveme will draw up a medium and long-term Strategic Decarbonization Plan in which the various actions to be implemented in the coming years in the various company areas will be identified.

In the context of corporate sustainability, the calculation of the Carbon Footprint (CFP) is linked to the measurement of greenhouse gas emissions generated by the organization through a shared international standard (GHG Protocol).

The GHG Protocol, born in 1997, was developed to provide a tool for the accounting and reporting of greenhouse gas (CO2) emissions by companies and organizations and provides methodological guidance on how to measure emissions in 3 different scopes or areas :

Scope 1: includes all the company's direct emissions
Scope 2: includes indirect emissions associated with the purchase of electricity
Scope 3: includes all indirect emissions that occur along the company's value chain, both upstream and downstream of the organization.

From the measurement of emissions (CO2) of the Coveme group, according to the GHG Protocol, it emerged that in 2023 the emissions deriving from scopes 1 and 2 represent 11%, while those deriving from scope 3 represent 89% of the total.
Within scope 3 the most significant item concerns the purchase of raw material, i.e. polyester film. Coveme, which already offers a range of recycled PET (rPET), will focus on this topic by pushing the offer of eco-sustainable materials.

Thanks to a detailed mapping of emissions generated, Coveme can now implement a medium and long-term Strategic Sustainability Plan by identifying the actions to be taken in the coming years and in the various company areas.