Givaudan to implement ambitious science-based targets for greenhouse gas reduction
Givaudan will implement ambitious science-based targets to ensure sustainable long-term growth by committing to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 30% between 2015 and 2030. The global leader in the creation of flavours and fragrances also has a goal to reduce Scope 3 GHG emissions by 20% over the same period.
The Company plans to achieve a 30% GHG emissions reduction by 2030 by converting its electricity supply to fully renewable sources by 2025, and leading significant energy consumption reduction projects across its operations. For its scope 3 target of 20% GHG emissions reduction, Givaudan will engage with its suppliers to reduce the carbon footprint of purchased goods and services. Existing commitments to reduce water usage and waste generation eco-efficiency targets remain unchanged.
Gilles Andrier, CEO Givaudan said:
“Givaudan is proud to set ambitious science-based targets that reflect our commitment as an industry leader while continually striving to anticipate the needs of our customers and their consumers. By reducing absolute GHG emissions, we are delivering on our 2015 ‘Road to Paris’ commitment to mitigate climate change and are actively contributing to our customers’ own sustainability targets.”
The transition to a long-term science-based GHG reduction target, which represents a consolidation and strengthening of its existing eco-efficiency targets, allows Givaudan to take transformational corporate action to combat climate change.
Alberto Carillo Pineda, Leader of the Science Based Targets initiative Steering Committee: “Our independent team of experts has approved Givaudan’s science-based targets in line with the global effort to keep temperatures below the 2-degree threshold, a key goal of the 2015 Paris Agreement on climate action. We applaud their initiative to reduce GHG emissions in their own operations while also working closely with suppliers to embrace their commitment to a low-carbon future.”
Givaudan’s move to science-based targets as climate action best practice follows on a 15% absolute reduction of GHG emissions from 2010 to 2015, and represents a logical next step in its 2020 strategy of ‘Responsible Growth. Shared Success.’
Givaudan is the global leader in the creation of flavours and fragrances. In close collaboration with food, beverage, consumer product and fragrance partners, Givaudan develops tastes and scents that delight consumers the world over. With a passion to understand consumers’ preferences and a relentless drive to innovate, Givaudan is at the forefront of creating flavours and fragrances that ‘engage your senses’. The Company achieved sales of CHF 4.7 billion in 2016. Headquartered in Switzerland with local presence in over 95 locations, the Company has more than 10,000 employees worldwide. Givaudan invites you to discover more at www.givaudan.com.
About The Science Based Targets initiative
The Science Based Targets initiative champions science-based target setting as a powerful way of boosting companies’ competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP, World Resources Institute (WRI), the World Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC) and one of the We Mean Business Coalition commitments. The initiative defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. For more information about the Science Based Targets initiative: http://sciencebasedtargets.org/.
Notes to the editor: Definition of GHG Scope 1, 2 and 3 emissions by the GHG protocol
Scope 1: Direct GHG emissions
Direct GHG emissions occur from sources that are owned or controlled by the company, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc.; emissions from chemical production in owned or controlled process equipment.
Scope 2: Electricity indirect GHG emissions
Scope 2 accounts for GHG emissions from the generation of purchased electricity consumed by the company. Purchased electricity is defined as electricity that is purchased or otherwise brought into the organisational boundary of the company.
Scope 3: Other indirect GHG emissions
Scope 3 emissions are a consequence of the activities of the company, but occur from sources not owned or controlled by the company. Some examples of Scope 3 activities are extraction and production of purchased materials; transportation of purchased fuels; and use of sold products and services.
For further information please contact
Peter Wullschleger, Media and Investor Relations
T +41 22 780 9093