The Company is joining the global movement of leading companies committed to set 1.5°C science-based emissions reduction targets aligned with a net-zero future
Givaudan announced today that it has signed the pledge “Business Ambition for 1.5°C” proposed by the United Nations to aim for net-zero value chain emissions by 2050.
“The scale of the climate crisis is more visible than ever. Climate change is disrupting people, business operations and economies around the world. We must act now to have any chance of keeping global warming to a maximum of 1.5°C,” said Givaudan CEO Gilles Andrier.
The signing of the pledge is a key milestone on Givaudan’s path to reaching its ambition of becoming climate-positive before 2050 for all three scopes, as recently announced with the new Company purpose.
Paul Simpson, CEO of CDP, one of the SBTi partners, said: “The science is clear: in order to limit the catastrophic impacts of climate change, we must ensure warming does not exceed 1.5°C. The ambition is high but it is achievable — and science-based targets give companies a roadmap for getting there. Corporations worldwide have an unprecedented opportunity to be at the very forefront of the transition to a net-zero economy — and there is no time to lose.”
In September Givaudan was among the first few companies to align on the 1.5° C trajectory with updated targets to reduce absolute scope 1 and 2 GHG emissions by 70% between 2015 and 2030. These targets were approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the most ambitious goal of the Paris Agreement.
Notes to editors
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.
Givaudan’s science-based targets
In 2017, Givaudan announced its first approved science-based targets to reduce absolute scope 1 and 2 GHG emissions by 30% between 2015 and 2030, and 20% for scope 3.
In 2019, the Company announced revised, more ambitious targets to reduce absolute scope 1 and 2 GHG emissions by 70% between 2015 and 2030.
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.
About Business Ambition for 1.5°C
Business Ambition for 1.5 °C: Our Only Future is a communications and advocacy campaign calling for businesses to step up and do their part in limiting global temperature rise to 1.5°C in response to the climate crisis. The call-to-action was announced by more than 25 business, civil society and UN leaders in June 2019, and it calls on companies to commit to setting verifiable science-based targets at 1.5°C and achieve net-zero emissions economy by 2050.
For further information please contact
Peter Wullschleger, Givaudan Media and Investor Relations
T +41 22 780 9093
Glaïeul Mamaghani, Sustainability Communications
T +41 22 780 9623