Nutrition, health, and sustainable living-focused science-based company Royal DSM announced today updated climate targets, ramping its goal to cut emissions by half by 2030, compared to its prior 30% target, after reporting strong progress to date. According to DSM, the company has already achieved a 19% structural GHG improvement, on a 2016 basis.
DSM stated that the new goals provide a foundation for the company to reach net zero emissions by 2050 and that they have been approved by the Science Based Targets initiative (SBTi). SBTi was formed as a collaboration between CDP, World Resources Institute (WRI), the World-Wide Fund for Nature (WWF), and the United Nations Global Compact (UNGC), with the goal to establish science-based environmental target setting as a standard corporate practice. Achieving approval of targets by SBTi is a significant milestone for companies’ sustainability efforts.
Other initiatives DSM reported on its net zero path include increasing the company’s internal carbon price from €50 to €100 per ton, and signing a new renewable energy power purchase agreement which will enable the company to power its electricity needs in North American with 100% renewable electricity by the end of this year.
Geraldine Matchett and Dimitri de Vreeze Co-CEOs Royal DSM, said:
As a purpose-led company, we aim to drive sustainable growth. That’s why we’re proud to make a significant step-up in our ambitious validated science-based targets, to accelerate our route to net-zero by 2050, and to continue to lead the way in our industry to move to a net-zero future. We have no time to waste, and the private sector has a crucial role to play in proactively delivering on the Paris Agreement.”