Givaudan rises up to the highest climate action ambition
• Aligns greenhouse gas (GHG) emission targets in order to limit global warming at 1.5°C
• Aims for a reduction of 70% in GHG emissions by 2030
Pursuing a longstanding commitment to climate action, Givaudan takes its ambition to the highest level by aligning GHG emission targets to limit global warming at 1.5°C above pre-industrial levels, the most ambitious goal of the Paris Agreement.
Gilles Andrier, CEO Givaudan said: “Givaudan has long recognised the urgency of the climate challenge. Today we are taking the natural next step and confirming our alignment with the 1.5°C trajectory, which is the minimum required to mitigate the most damaging effects of climate change.”
The Science Based Targets initiative (SBTi) has approved Givaudan’s target to reduce absolute scope 1 and 2 GHG emissions by 70% between 2015 and 2030 as being consistent with levels required to meet the goals of the Paris Agreement. The Company’s value chain emission target (scope 3) aiming for a reduction of 20% over the same period also meets the SBTi’s criteria and is in line with current best practice.
Cynthia Cummis, Director of Private Sector Climate Mitigation at World Resources Institute, one of the Science Based Targets initiative partners said: “Congratulations to Givaudan on setting emissions reduction targets in line with keeping warming to 1.5°C above pre-industrial levels. This is exactly the kind of leadership we need to be seeing from business in response to the growing climate crisis.”
As a member of RE100 - a global initiative bringing together influential businesses committed to 100% renewable electricity - one key undertaking for achieving these targets is converting our entire electricity supply to fully renewable sources by 2025. In the meantime, the Company is introducing significant energy efficiency projects across operations. Use of first-rate science and innovation technology to reduce our dependency on fossil fuels further allows a positive outlook on the future, and raises our level of ambition with confidence.
The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets.
The decision to raise the Company’s targets follows the publication of the Intergovernmental Panel on Climate Change (IPCC) 2018 Special Report on Global Warming of 1.5°C and the ensuing release of the SBTi’s new target setting criteria in April 2019.