Incitec Pivot is on track for a 1.5°C pathway by 2030. While Incitec Pivot demonstrates credible initiatives, such as technological innovation and strategic partnerships, certain transparency gaps remain.

Planet Tracker’s report, Tomorrow’s Chemistry, presents a comparative analysis of the Climate Transition Assessments (CTAs) of seven leading chemical companies, Air Liquide (AI), BASF (BAS), Bayer (BAY), Dow (DOW), Incitec Pivot (IPL), LyondellBasell (LYB), and Toray Industries (3402), shedding light on their commitments, strategies and readiness to align with the Paris Agreement and achieve Net Zero emissions by 2050.

Incitec Pivot appears to be on course for a 1.5°C pathway by 2030, contingent on the successful implementation of its mitigation projects. By 2030, the majority of Incitec’s total GHG emissions will come from downstream Scope 3 activities (43%), followed by Scope 1 activities (32%). Without further mitigation, Incitec Pivot’s total GHG emissions will overshoot SBTs by 23%, pushing its 1.5°C pathway alignment towards a well-below 2°C warming scenario by 2030.

Incitec Pivot demonstrates a robust commitment to its climate transition with ambitious greenhouse gas (GHG) reduction targets and proactive risk management. The company’s revised transition plan aims to achieve a 42% absolute reduction in emissions by 2030 and Net Zero by 2050. A more detailed connection between mitigation projects and transition investments would enhance Incitec’s transparency and align the company’s efforts more clearly to its 1.5°C target by 2030, and subsequent Net Zero by 2050.