Fragrance and taste company Firmenich announced a commitment to achieve net zero greenhouse gas (GHG) emissions across its value chain by 2039. The company also announced its near and long-term emissions reduction targets have been verified and approved by the Science Based Targets initiative (SBTi).
SBTi is one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of addressing and limiting climate change. Last year, the organization launched its Net Zero Standard, setting stringent criteria which it uses to assess and certify corporate commitments to achieve net zero emissions. SBTi also tightened its criteria for approved climate targets, announcing that it will only accept targets aligned with its 1.5°C warming ambition, as required to avoid the worst impacts of climate change.
Firmenich is the first company in its industry to receive approval from the SBTi.
Neil McFarlane, Senior Vice President 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.”
Addressing its extended supply chain impact, such as energy usage by sourcing partners, Firmenich has committed to decrease absolute scope 3 GHG emissions by 90% by 2039, from a 2021 baseline. The company also aims to have 80% of its suppliers by spend set science-based targets by 2026.
The announcements follow the launch of Firmenich’s ESG strategy in 2021, which included targets to become climate neutral in its direct operations by 2025, carbon positive by 2030, water neutral in its operations in water-stressed areas by 2030, and to recycle or reuse 100% of plastic waste by 2030. The firm also committed to having all of its produced fragrances be renewable, and having 100% of its nature program reporting against science-based targets by 2030, among others.
Gilbert Ghostine, CEO of Firmenich, said:
“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 is crucial to future-proofing sustainable business growth while assuring the stability of our planet and climate system for generations to come.”