Firmenich has released its annual Environmental, Social and Governance (ESG) Report, detailing the group’s ESG performance in fiscal year 2021. Firmenich has stepped up progress towards its 2025 ESG goals across three key areas: climate, nature and people.
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FY2021 ESG Performance
- Acting on Climate Change: Driven by science-based targets, Firmenich is one of only two companies in the world to achieve a CDP Triple A rating for climate, water and forests for the third consecutive year. Firmenich has also decoupled its growth in manufacturing output from its CO₂ emissions, with Scope 1 and 2 CO₂ emissions down by 37.1% since 2017 and achieved 100% renewable electricity in its operations including in all new acquisitions.
- Embracing Nature: In 2021, Firmenich became the first company in the world to achieve full verified Biodiversity Risk Management (ABS). In addition, 100% of its integrated biodiversity strategy was verified by the Union for Ethical Biotrade (UEBT) and the group reached 96.3% ultimately or partially biodegradable ingredients in its fragrance portfolio.
- Caring about People: The group became the first company in the world to upgrade to Global EDGE MOVE certification, raising the bar for gender equality. Firmenich achieved no gender pay gap, zero human rights non-compliance in its operations and 47% of senior leaders are women and/or ethnically diverse. Building on its platinum Ecovadis environmental and social performance rating, Firmenich reinforced its actions to protect human rights by expanding awareness and training across the company and its suppliers.
In 2021, Firmenich was also rated for the first time by Sustainalytics, with a score of 8.6, which not only places the group as ESG leader in its industry, but also in the top 1% of companies rated worldwide. Firmenich recently ranked in the top 10 of the World Benchmarking Alliance’s food and agriculture benchmark.
Gilbert Ghostine, CEO Firmenich, said, “Firmenich has achieved the ambitious 2020 environmental goals it set after the COP21 climate conference. The pandemic and recent climate events show we need to keep on turbocharging our leadership across the ESG spectrum. By taking our commitments in conscious perfumery, diet transformation and renewable ingredients to the next level, we are encouraging others to be bolder for a sustainable future.”
Berangère Magarinos-Ruchat, chief sustainability officer, Firmenich, said, “Our ESG ambition is now embedded throughout our business, providing us all with a clear vision of the transformation we will achieve within a decade on our way to a positive-impact future. We are determined to generate positive and measurable impacts on climate change, nature regeneration and people protection.”