Firmenich has received approval from the Science Based Targets initiative (SBTi) for its net-zero emissions target, making it the first company in the industry and one of the first companies globally to receive approval from the SBTi.
Related: Firmenich Releases Full Year Results
Firmenich has both near- and long-term science-based emissions reduction targets verified and approved by the SBTi. The company is committed to reaching net-zero greenhouse gas emissions across its value chain by 2039, keeping global warming below 1.5°C in line with the Paris Agreement.
Firmenich equally commits to reduce absolute scope 3 GHG emissions by 90% by 2039 from a 2021 base year. Being a positive driver of change across its value chain, Firmenich also commits that 80% of its suppliers by spend will have science-based targets by 2026.
The approval of the net-zero emissions target builds on earlier important milestones in tackling climate change. Previously, the company has taken concrete steps to ensure the continued availability of renewable energy options for its sites from solar and wind, as well as by installing biogas boilers at its sites. Since February 2020, all its operations worldwide are powered by 100% renewable electricity.
Firmenich is one of only two companies in the world to have received a Triple A listing for climate change, forest and water management from CDP for four years in a row.
Firmenich is one of the founding members of the “Business Ambition for 1.5C”, a broad coalition of visionary companies committed to a net-zero carbon future by no later than 2050, including Unilever, Danone, Nestlé and L’Oréal.
Gilbert Ghostine, CEO of Firmenich, said, “I am proud that Firmenich is one the first companies to see their net-zero emissions target approved by SBTi. These ambitious goals aim at effectively reducing our environmental footprint, while actively engaging with our suppliers and customers to reduce CO2 emissions through our supply chain. Setting science-based targets are crucial to future-proofing sustainable business growth while assuring the stability of our planet and climate system for generations to come.”
Neil McFarlane, senior vice president of Global QHS&E, Firmenich, said, “Acting on the climate emergency via a scientific approach is key to effective decarbonization and by establishing a framework, the SBTi is enabling companies to lead the path to a low carbon future. At Firmenich, we are taking the necessary measures to minimize our impact and aim to lead our industry towards net-zero greenhouse gas emissions.”
Want to know everything going on in flavor & fragrance? Sign up for P&F+'s newsletter. You can also follow along on Instagram and LinkedIn.