Sustainability

Climate change is one of the greatest challenges of our time and it affects the whole human race, even though we in Europe are lucky enough to feel the effects only to a comparatively small extent. In other regions of the world, the consequences of global warming such as rising sea levels and the drying-up of lakes and rivers are existential threats for the people living there. The rich industrialized nations emit a comparatively large amount of CO₂ , especially through intensive industrial production. So for ABN Resource, our commitment to global climate protection means assuming global responsibility with regard to economic, ecological and social aspects. In 2021, therefore, ABN Resource took steps to become a certified carbon positive company. In this way, we join the movement combining climate protection and sustainable development by avoiding, reducing and offsetting CO₂  emissions at the same time.

Climate-damaging CO₂  emissions result from numerous processes directly or indirectly related to the combustion of fossil fuels. Since CO₂  emissions impact on the climate at a global level, it is ultimately irrelevant where on the planet they originate and where they are saved. So the offsetting of emissions proportionate to the amount produced – for example, through investments in international climate protection projects – ultimately ensures that the carbon footprint is offset. With carbon offsetting, the added value for the environment is generated through the voluntary promotion of climate protection projects, which would not be possible without such additional income. This voluntary financial support not only helps the selected countries to improve their economic, social and ecological circumstances, but is also a major driver for the transfer of clean technologies and sustainable global economic development.

Climate Positive means going a step further than Carbon Neutral, by saving more greenhouse gas emissions than you are generating. There are two ways you can do this: By offsetting more than the company’s carbon footprint. The second one is supporting other businesses and individuals to reduce their footprint by developing and supplying low-carbon products, which helps every one of the customers to lower their carbon footprint; working directly with suppliers and clients to reduce their emissions, which lowers the footprint of every other business they supply; by ensuring that our waste are reused or recycled, which reduces the huge emissions associated with landfill.

In May 2021, we become a certified CO₂ positive organization. This means that it will no longer leave a CO₂ footprint and thus no longer have a negative impact on CO₂  concentrations in the atmosphere. In addition, ABN Resource will continue to offset its previously unavoidable CO₂  emissions with compensation measures. This will be done by investing in high-quality climate protection projects aimed primarily at promoting renewable energies.

The step towards global CO₂  positivity from May 2021 was prepared for three years and accompanied by the sustainability consultancy Fokus Zukunft. Fokus Zukunft reviewed the calculation of ABN Resource’ CO₂  emissions and confirmed the accuracy of the data basis and the application of the Greenhouse Gas Protocol guidelines as the calculation standard for determining CO₂  emissions. Fokus Zukunft then certified the ABN Resource as a CO₂ positive company.

CO₂ positivity refers to the global CO₂ footprint generated by ABN Resource at its locations through heat, fuel and electricity consumption, business trips, hotel overnight stays and employee commutes as well as through waste generation and wastewater in the company. This enables us to precisely calculate the CO₂  emissions generated. Based on this calculation, ABN Resource then makes compensatory investments in climate protection projects above the emission levels to achieve a carbon positive status.

Our projects are accredited, approved and monitored to internationally recognized certification standards. The projects certified according to the Gold Standard fulfil especially stringent requirements. They not only save CO₂ , but also contribute to local sustainable development. The validation of the project results with regard to the CO₂  savings achieved is verified by independent testing bodies such as SCS Global Services.

When selecting projects, we focus on high-quality voluntary climate protection projects that support economic, ecological and social development worldwide in countries and regions particularly impacted by industrial activities. In this way, ABN Resource fulfils its global social responsibility in the sense of corporate citizenship. At the same time, we are also supporting most of the 17 sustainable development goals of the United Nations by supporting forest conservation, hydropower, wind energy projects.

CO₂ offsetting means that greenhouse gases that are produced in one region of the earth and cannot be avoided are compensated by climate protection projects in another region. To finance these, companies buy certificates for a range of different projects. Each certificate represents 1 ton of CO₂ saved by the project. In return for their participation, the project initiators receive emission credits, which can be traded in the form of climate protection certificates. The amount is calculated, for example, on the basis of a comparison with the emissions that would have resulted from the construction of a coal-fired power plant.

The certificates are issued by independent institutions such as Bureau Veritas Certification Holding SAS companies or SCS Global Services, according to internationally applicable standards. A key aspect of emissions trading is the retirement of certificates after they have been acquired. Retirement must be clearly documented. Each CO₂ offset ends with the documented retirement of the certificates. This ensures that the same certificates are not traded more than once, which, in turn, would invalidate the principle of balance. ABN Resource acquired its climate protection project certificates via Fokus Zukunft.

Voluntary CO₂offsetting works according to the principle that greenhouse gas emitters invest in and support voluntary climate protection projects by purchasing emission reduction certificates. Prices depend on the individual project; in other words, when an emission reduction certificate is purchased, a third party is commissioned to save one ton of CO₂ in the atmosphere in another region of the earth on the company’s behalf. Pricing on the CO₂ market is also determined by supply and demand. Projects that, above and beyond simple climate protection, offer additional benefits for the people and the environment in the region where the project is being undertaken frequently achieve higher prices on the market.

With CO₂ offsetting, the added value for the environment is generated through the voluntary promotion of climate protection projects, which would not be possible without the additional income. Only climate protection projects that can prove their added value within the framework of certification are recognized and so gain access to the market. Trading in CO₂ reduction certificates follows a principle known as “results-based finance.” This refers to the idea that the developers of climate protection projects can issue emission reduction certificates only if their project has already been implemented and demonstrably helps to reduce CO₂ emissions. So anyone who acquires CO₂ reduction certificates in order to compensate for their own emissions can be confident that purchasing certificates will be matched by a real benefit for climate protection. This mechanism, which is embedded in the Kyoto Protocol, has become firmly established over the past 20 years and proven itself as a central component of voluntary, non-governmental climate protection. The process is supported by the UN, numerous non-governmental organizations and hundreds of large companies, including those in the petroleum industry. ABN Resource invests exclusively in projects that meet the above criteria and was able to choose its project partner and climate project with the support of Fokus Zukunft. But it is also clear that this form of CO₂ offsetting will merely support and not replace our ongoing efforts to globally reduce our CO₂ emissions.

ABN Resource continue to follow the principle of reduce–offset-engage. ABN Resource is going to continue to gradually reduce its greenhouse gas emissions while investing in the improvement of energy efficiency and engaging with the lubricants industry to promote sustainability within the markets. If you have any ideas or input we would welcome your feedback and a discussion about how together we can create a safer and more sustainable world.