Givaudan introduces newly defined purpose
Givaudan puts its purpose at the heart of its strategy to achieve bold goals including:
- Showing its love for nature by becoming a climate-positive business before 2050
- Setting an ambition to double its business through creations that contribute to happier, healthier lives by 2030
Givaudan, the global leader in flavours and fragrances, has revealed its Company purpose supported by bold and ambitious goals as the Company enters the final year of its 2020 strategy and prepares for the next strategic cycle.
Gilles Andrier, CEO of Givaudan said: “At Givaudan, for the last 250 years our creations have inspired emotions and touched millions of lives. By defining the ‘why’ behind what we do, we are providing a compass to further guide our choices and set strategic goals. Our purpose and supporting ambitions will drive sustainable, long-term performance while leading the way to improve happiness and health for people and nature.”
Givaudan’s purpose is the result of insights gathered from over 500 internal and external stakeholders. It is articulated in two parts with the call-to-action ‘Let’s imagine together’ reflecting its inclusive approach towards working together with employees, customers, suppliers and partners to achieve goals that reflect shared values.
The Company has translated its purpose into four focus areas with specific, measurable goals:
Creations - Imagining together that through our creations more people will enjoy happier, healthier lives. This goal is supported by Givaudan’s ambition to double its business through creations that contribute to happier, healthier lives by 2030.
Givaudan will continue to focus on providing consumer preferred products whilst leveraging capabilities obtained through recent acquisitions. As a result, Givaudan will be able to increase the happiness and health of more consumers by expanding its offerings and moving into new markets.
Nature – Imagining together that we show our love for nature in everything we do. This goal will be measured against ambitions which include:
- becoming a climate-positive business before 2050 (based on scope 1, 2 and 3 emissions according to the GHG protocol), with an interim measure that before 2040 its operations will be climate-positive (scope 1 and 2);
- replacing all single-use plastics across its sites and operations with eco-friendly alternatives before 2030.
Givaudan builds upon the strong sustainability approach and commitments to reduce its carbon emissions from its operations (scope 1 and 2) by 70% and supply chain emissions (scope 3) by 20% by 2030, as well as its commitment to use 100% renewable electricity by 2025.
People – Imagining together that Givaudan is a place where everyone loves to be and grow. Progress towards this goal will be measured against ambitions to create an even more balanced and inclusive organisation, including:
- before 2025, Givaudan will be rated among the leading employers for inclusion globally;
- before 2030, 50% of Givaudan’s senior leaders will be from high growth markets and 50% will be women.
Building on the significant progress that Givaudan has made to ensure a safe working environment, it has committed to reducing its total recordable injuries cases by a further 50% before 2025. This is complemented by an ambition to further improve the way the company supports its peoples’ physical and mental health before 2025.
Communities – Imagining together that all communities benefit by working with Givaudan. Progress towards this goal will be measured against ambition to improve the lives of millions of people in communities where the Company sources and operates by 2030.
Givaudan have also set an ambition to source all materials and services in a way that protects people and the environment by 2030. This is supported by Givaudan’s strong responsible sourcing approach and existing target that 100% of raw materials volume of natural origin will be responsibly sourced by 2030.
Givaudan will be measuring its achievements against these ambitions and reporting its progress on a regular basis.
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 5.5 billion in 2018. Headquartered in Switzerland with local presence in over 145 locations, the Company has almost 13,600 employees worldwide. Givaudan invites you to discover more at www.givaudan.com.
For further information please contact
Peter Wullschleger, Media and Investor Relations
T +41 22 780 9093