Givaudan joins WBCSD and 40 member companies to launch Vision 2050: Time to Transform
Report sets out a vision for billions of people worldwide living well within planetary boundaries
Givaudan has joined the World Business Council for Sustainable Development (WBCSD) and more than 40 of its members including Unilever, Nestlé and Natura, to launch “Vision 2050: Time to Transform”.
In response to the three critical global challenges of the climate emergency, nature loss and mounting inequality, Vision 2050: Time to Transform puts forward a shared vision of a world in which more than nine billion people are able to live well, within planetary boundaries, by 2050.
To achieve this, it calls for transformation at scale, with business focusing its actions on where it can most effectively lead the system transformations needed. It calls for collaboration at unprecedented levels to deliver impact fast and for business leaders to adopt three mindset shifts: reinventing capitalism that rewards true value creation; focusing on building long-term resilience; and taking a regenerative approach beyond doing no harm.
Gilles Andrier, CEO Givaudan comments:
“The long-term success of business depends on thriving societies to trade with, and a healthy planet for us all to exist on. Vision 2050: Time to Transform provides ambitious guidance to the business community on how to accelerate change in the decade ahead. It presents an opportunity to unlock the incredible potential of a green economy, as businesses grow with their customers and act as a force for good. We’re proud to help drive forward this inspirational agenda as the business community comes together to transform.”
At the heart of Vision 2050: Time to Transform, are nine transformation pathways, aligned with the Sustainable Development Goals and the targets of the Paris agreement. These are actionable routes for companies to take across industries to ensure a more sustainable and prosperous future. These cover the areas of business activity that are essential to society: energy; transportation and mobility; living spaces; products and materials; financial product and services; connectivity; health and wellbeing; water and sanitation; and food.
WBCSD President and CEO Peter Bakker comments: “Vision 2050: Time to Transform should not be read with the idea that tomorrow is going to be much the same as today. This is a report for change, starting now, outlining how business needs to play a leading role. We have no time to waste. Achieving this vision requires a wholesale transformation of everything we have grown up with: energy needs to decarbonise; materials need to go circular; food needs to be produced sustainably and equitably and provide healthy diets.”
“Our future depends on transformation. One of the keys to success will be a mindset shift around capitalism. Our economic systems, incentives, global accounting standards and capital market valuations can no longer just be based on the financial performance of businesses: we must integrate our impact on people and planet as part of how we define success and determine enterprise value.”
Givaudan is a global leading company in taste and wellbeing, and fragrance and beauty. With its heritage stretching back over 250 years, the Company has a long history of innovating scents and tastes. From a favourite drink to your daily meal, from prestige perfumes to cosmetics and laundry care, its creations inspire emotions and delight millions of consumers the world over. The Company is committed to driving purpose-led, long-term growth while leading the way to improve happiness and health for people and nature. In the fiscal year 2020, the Company employed almost 16,000 people worldwide and achieved sales of CHF 6.3 billion and a free cash flow of 12.8% of sales. Let’s imagine together on www.givaudan.com.
WBCSD is a global, CEO-led organisation of over 200 leading businesses working together to accelerate the transition to a sustainable world. WBCSD helps make its member companies more successful and sustainable by focusing on the maximum positive impact for shareholders, the environment and societies. WBCSD’s member companies come from all business sectors and all major economies, representing a combined revenue of more than USD 8.5 trillion and 19 million employees. WBCSD’s global network of almost 70 national business councils gives members unparalleled reach across the globe. Since 1995, WBCSD has been uniquely positioned to work with member companies along and across value chains to deliver impactful business solutions to the most challenging sustainability issues. Together, we are the leading voice of business for sustainability: united by our vision of a world where more than 9 billion people are all living well, within planetary boundaries, by 2050. www.wbcsd.org
For further information please contact
Pierre Bénaich, Givaudan Media and Investor Relations
T +41 22 780 9053
Sara Neame, Sustainability Communications
T +44 7801 293776