LANXESS AG is a leading specialty chemicals company headquartered in Cologne, Germany. The company operates in the Organic Chem & Intermediates sector, producing a wide range of high-quality chemicals that are used in various industries, including automotive, construction, agriculture, and electronics.

LANXESS AG is committed to sustainability and decarbonisation, and has set ambitious targets to reduce its carbon footprint and increase the use of renewable energy sources. The company has implemented several initiatives to achieve these goals, including investing in renewable energy projects, implementing energy efficiency measures, and adopting innovative technologies.

One of the key initiatives undertaken by LANXESS AG to reduce its carbon footprint is the implementation of a corporate energy strategy. The company has set a target to reduce its greenhouse gas emissions by 50% by 2030, compared to the 2015 baseline. To achieve this target, LANXESS AG is focusing on improving energy efficiency, increasing the use of renewable energy sources, and reducing the use of fossil fuels.

One of the ways in which LANXESS AG is increasing the use of renewable energy sources is through corporate power purchase agreements (PPAs). A PPA is a long-term contract between a company and a renewable energy provider, which guarantees the purchase of a certain amount of renewable energy at a fixed price. By entering into PPAs, LANXESS AG is able to secure a stable and predictable supply of renewable energy, while also supporting the growth of the renewable energy industry.

In 2020, LANXESS AG signed a PPA with a wind farm in Spain, which will supply the company with renewable energy for the next ten years. The wind farm is expected to generate around 70 GWh of electricity per year, which is equivalent to the annual electricity consumption of around 20,000 households. This PPA will help LANXESS AG to reduce its carbon footprint by around 44,000 tonnes of CO2 per year.

LANXESS AG is also investing in renewable energy projects, such as solar power plants and biogas facilities. In 2020, the company announced that it would be investing around €100 million in a new solar power plant in Spain. The plant is expected to generate around 250 GWh of electricity per year, which is equivalent to the annual electricity consumption of around 75,000 households. This investment will help LANXESS AG to increase the share of renewable energy in its energy mix, and reduce its reliance on fossil fuels.

In addition to these initiatives, LANXESS AG is also implementing energy efficiency measures to reduce its energy consumption and carbon footprint. The company has set a target to improve energy efficiency by 25% by 2025, compared to the 2015 baseline. To achieve this target, LANXESS AG is implementing a range of measures, such as upgrading equipment, improving processes, and optimising logistics.

Overall, LANXESS AG is a leading specialty chemicals company that is committed to sustainability and decarbonisation. The company is implementing a range of initiatives to reduce its carbon footprint and increase the use of renewable energy sources, including corporate PPAs, renewable energy investments, and energy efficiency measures. These initiatives demonstrate LANXESS AG's commitment to sustainable business practices, and its role as a leader in the transition towards a low-carbon economy.