The contributions of biotechnology to a carbon neutral world

We are all living and feeling intense changes in the climate. We know about the impacts that fossil fuels have on the planet's natural climate cycles, contributing to global warming, as well as other phenomena such as desertification, forest fires, rising sea levels and the extinction of species.

Still, the world is based on paradigms that are based on fossil fuel. In 2020, energy generated from fossil sources received 70% of global subsidies for the sector, and only 20% of these subsidies were allocated to renewable energy sources. In order for us to make progress towards our goals for reducing greenhouse gas emissions, the world needs to accelerate towards a carbon-neutral society.

Biotechnology-based solutions are part of the answer to some of the world's biggest challenges. They allow us to imagine a carbon-neutral world, in which industries and communities make the most of raw materials and resources. Many of the solutions already exist and have enormous sustainable growth potential. More than 85% of global biotechnology leader Novozymes' sales in 2021 were generated from solutions that reduce the use of fossil resources, enable the agriculture and food sectors to produce more with less, and enable better health across the world. world.

The industry's strong presence at the 27th United Nations Climate Change Conference (COP27), held this year in Egypt, continues to send the message that the private sector is prepared and wants a sustainable transition to an economy independent of high-intensity substances carbon emitter. Novozymes was present at the event with the participation of our global CEO, Ester Baiget, and a team of company experts to work with stakeholders from different sectors, industries and communities to ensure that we leave a healthy and viable planet for the next generations .

As an institution we are doing our part and fulfilling our commitments. Together with partners in the value chains in which we operate, we work to reduce emissions and are on track to achieve our goal of being a carbon neutral company by 2050.

Our emission reduction targets were renewed by the Science Based Targets initiative (SBTi). We are part of a restricted list of companies that are committed to the new SBTi standard for carbon neutrality targets by 2050. By 2030, Novozymes will reduce the absolute CO2 emissions in its operations by 75% and the absolute CO2 emissions of its supply chain by 35%. By 2050, Novozymes will achieve the goal of being carbon neutral.

Companies like Novozymes play an extremely important role in the objectives established by COP27, but the joint effort must necessarily involve public authorities. That's why we support the development and implementation of carbon pricing policies and renewable energy incentives as fundamental solutions for a greener economic transition.

We understand that Brazil has an essential position in this discussion. Because it has one of the cleanest energy matrices in the world, because it is at the forefront of developing and supporting the use of biofuels and because of its vast biodiversity, the country can and should act as a leader in this discussion.

Businesses, governments and civil societies must be ambitious and work together to find the best solutions for our common future. The only way to move forward is through coordinated and collective efforts. The global COVID-19 pandemic and constraints on supply chains have highlighted how interconnected nations and industry are. The climate crisis demands even greater collaboration.

Let's not stop there. Novozymes stands ready to work with global and local stakeholders to ensure a healthy and sustainable planet for each and every one of us.

By William Yassumoto, Regional President of Novozymes for Latin America and Chairman of the Board of ABBI