Large Swiss companies reduced their CO2 emissions

Large Swiss companies have reduced their CO2 emissions over the past two years. However, progress varies greatly from company to company, as a survey by the AWP news agency shows.

In 2023, Swiss Market Index (SMI) companies reduced their greenhouse gas emissions by 8.9% compared to 2021. In total, the 20 largest Swiss listed companies emitted 81 million tonnes of CO2 last year, a figure calculated on the basis of the sustainability reports published by the companies themselves.

However, these are only the emissions directly caused by the companies themselves, for example through the use of oil-fired heating or their vehicle fleets.

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Greenhouse gas emissions up and down the value chain, from suppliers and logistics in particular, are much higher. At the end of last year, these emissions totalled 256 million tonnes of CO2, around a quarter less than two years ago.

Different pace of progress

Swiss companies are progressing at different speeds on the long road to carbon neutrality. Pharmaceutical group Novartis (-37%) and sanitary products specialist Geberit (-34%) have reduced their operational emissions the most. In many cases, CO2 emissions have been reduced through energy efficiency measures and increased use of green electricity.

According to the AWP survey, only three companies have increased their CO2 emissions over the past two years. These are construction chemicals manufacturer Sika (+11%), logistics company Kühne+Nagel (+6.7%) and luxury goods group Richemont (+1%).

The operational emissions of the SMI’s two biggest CO2 emitters fell: Holcim reduced its CO2 emissions by 7% to 80 million tonnes, and Nestlé by 28% to 3.5 million tonnes. The building materials company explains this reduction by a lower proportion of clinker (a type of partially vitrified brick) in its products and the food giant by the use of more sustainable raw materials and optimised packaging.

Increased air transport

The situation is less clear-cut when it comes to emissions in the upstream and downstream value chains. On average, these have fallen, but mainly because major emitters such as Nestlé (-15% to 84 million tonnes) and Holcim (-11% to 47 million tonnes) have also reduced their CO2 emissions in the supply chain.

However, these greenhouse gas emissions have increased for half of the companies in the SMI, particularly in the service sector. In this sector, emissions in the upstream and downstream value chain come mainly from air transport. During the pandemic, the transport of goods by air decreased due to travel restrictions, but increased again in 2023.

Adapted from French by DeepL/ac

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