Alpek receives SBTi approval for its emissions reduction target

Reaffirming its commitment to combat climate change

Monterrey, N.L., Mexico. July 7, 2022 – Alpek, S.A.B. de C.V. (“Alpek” or “the Company”) announced today that its near-term science-based target has been approved by the Science Based Targets initiative¹ (SBTi). The SBTi has validated that the corporate greenhouse gas (GHG) emissions reduction target submitted by Alpek is in conformance with the SBTi Criteria and Recommendations (version 4.2).

The SBTi’s Target Validation Team has classified the Company’s scope 1 and 2 target ambition and has determined that it is in line with limiting warming to well-below 2°C trajectory which guarantees the Company’s efforts to combat climate change. As part of the near-term science-based target, Alpek commits to reduce absolute scope 1 and 2 GHG emissions by 27.5% by 2030 from a 2019 base year. Alpek also commits to reduce scope 3 emissions by 13.5% within the same time frame.

“We are pleased to have received this approval from the SBTi as this reaffirms that Alpek’s emissions reduction target is feasible and well-aligned with the Paris Agreement,” stated José de Jesús Valdez, Alpek’s CEO. “We are confident that by transitioning to fully renewable sources of electricity, improving our energy usage, and generating emission-free steam, among other initiatives, Alpek will be well on its way to meet its targets and continue its path towards carbon neutrality by 2050.”

1) SBTi is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. For more information, please visit: www.sciencebasedtargets.org.