Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, August 23 2022 - 20:00
Firmenich Receives SBTi Approval For Net-Zero Emissions Target
GENEVA, Aug. 23, 2022, /PRNewswire-AsiaNet/--

Firmenich is the first company in the  industry to receive approval from the 
Science Based Targets initiative (SBTi) for its net-zero emissions target

Firmenich, the world's largest privately-owned fragrance and taste company, 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.

Firmenich has both near- and long-term science-based emissions reduction 
targets verified and approved by the SBTi. The Group is committed to reach 
net-zero greenhouse gas emissions across its value chain by 2039, keeping 
global warming below 1.5°C in line with the Paris Agreement

"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 is crucial to future-proofing sustainable 
business growth while assuring the stability of our planet and climate system 
for generations to come," said Gilbert Ghostine, CEO of Firmenich.

"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," said Neil McFarlane, Senior Vice President 
Global QHS&E, Firmenich.

Firmenich equally commits to reduce absolute scope 3 GHG emissions 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.

Sustainability has been at the core of Firmenich's values and action for 
several decades, and it 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.

Note to editors

Scope 1 and 2 covers emissions generated from Firmenich's own operations, such 
as electricity and energy to power manufacturing plants and offices. Scope 3 
refers to emissions in Firmenich's extended supply chain, such as energy usage 
by sourcing partners.

About Firmenich

Firmenich, the world's largest privately-owned fragrance and taste company, was 
founded in Geneva, Switzerland, in 1895, and has been family-owned for 127 
years. Firmenich is a leading business-to-business company specialized in the 
research, creation, manufacture and sale of perfumes, flavors, and ingredients. 
Renowned for its world-class research and creativity as well as its leadership 
in sustainability, Firmenich offers its customers superior innovation in 
formulation, a broad and high-quality palette of ingredients, and proprietary 
technologies including biotechnology, encapsulation, olfactory science, and 
taste modulation. Firmenich had an annual turnover of 4.7 billion Swiss Francs 
at end June 2022. More information about Firmenich is available at

About Science Based Targets initiative (SBTi)

The Science Based Targets initiative (SBTi) is a global body enabling 
businesses to set ambitious emissions reductions targets in line with the 
latest climate science. It is focused on accelerating companies across the 
world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global 
Compact, World Resources Institute (WRI) and the World Wide Fund for Nature 
(WWF) and one of the We Mean Business Coalition commitments. The SBTi defines 
and promotes best practice in science-based target setting, offers resources 
and guidance to reduce barriers to adoption, and independently assesses and 
approves companies' targets.

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SOURCE: Firmenich