At !K7 Music we believe in a shared responsibility to tackle the climate crisis. We urge our governments to urgently put in place the better structural and legislative frameworks required to limit warming to 1.5 degrees but we also want to take responsibility for our own carbon footprint and reduce it wherever possible. Through our staff Climate Working Group we developed a company-wide target to decarbonise and significantly reduce the environmental impact of our operations. We are committed to become net-zero by 2026 and carbon positive by 2030. We hope that by providing a clear and transparent breakdown of our approach we can show this is a realistic and achievable goal for companies like ours.
Our methodology, assessment and future targets are all available to read in our report
Alongside groups including AIM and IMPALA we are actively working to develop industry-wide sustainable practices and public policy advocacy and our CEO Horst Weidenmüller is the Founder and Chair of the IMPALA Sustainability Taskforce. !K7 are also founding signatories of the Music Climate Pact, initiated by AIM and we are signed-up to the UN’s Race to Zero pledge through the SME Climate Commitment programme.
Reducing our Impact
We started our carbon reduction program in 2019 by switching the first energy providing contracts to green energy and completed the switch in 2021.
Since then have completed a full assessment of our !K7’s carbon emissions that covers Scope 1, 2 and 3 including: energy use, waste, manufacturing, shipping and business travel. Beginning with a CO2 assessment we have considered many aspects of our environmental footprint and ways to lessen it.
In addition to our current and planned carbon reduction initiatives in 2021 we have taken the extra step of calculating our own carbon tax for 2021 at €45 per tonne to help fund carbon sequestration projects and to adjust our company to a carbon tax business environment. This year we have donated towards two organisations, both doing vital work to protect biodiversity and maintain CO2 sequestration. They are MoorFutures, a peat restoring program in Schleswig Holstein in Germany, and The Nicaforest High Impact Reforestation Program in Nicaragua. We chose the figure of €45 to ensure we were way above the cost per tonne of existing decarbonising options on the market.
We are on the path to net zero in 2026 and carbon positivity by 2030. As part of this journey we will continually review our actions and results and develop carbon reduction initiatives. Our plans and initiatives under development are all detailed in the report.
We are looking forward to continuing our work as a business alongside our peers and partners in the industry to drive change in the sector.
You can access our full report here