Country for PR: United Kingdom
Contributor: PR Newswire Europe
Monday, September 12 2022 - 18:00
Firmenich Strengthens Sustainability Performance in FY2022
GENEVA, Sept. 12, 2022, /PRNewswire-AsiaNet/--

Audited ESG Report 2022 shows accelerated progress toward industry-leading 
targets for 2025

Firmenich, the world's largest privately-owned fragrance and taste company, 
today releases its annual Environmental, Social and Governance (ESG) Report, 
tracking progress toward the group's groundbreaking sustainability targets. 
Fiscal Year (FY) 2022 was marked by strong sustainability performance across 
the Group's three key pillars, climate, nature, and people, backed by growing, 
best-in-class independent evaluation and reinforced ESG governance.

"I am proud that we continued to accelerate our industry-leading ESG actions 
despite the challenging economic climate and kept making measurable progress 
toward our 2025 targets, even exceeding them for renewable ingredients and 
Living Wage," said Gilbert Ghostine, CEO Firmenich. "Our Firmenich Inclusive 
Capitalism business model is gaining more traction and proving more and more 
relevant in today's world. Every year, new climate extremes are having a 
growing impact across the globe: Firmenich's bold environmental ambition is a 
vital business investment today and for the future."

"Firmenich ESG strategy keeps progressing across our own operations and along 
our supply chain," said Thomas Andro, Senior Director, Corporate 
Sustainability. "Furthermore, consumer demand for sustainable products is a 
structural growth trend in our industry and Firmenich's outstanding ESG 
credentials, combined with our leadership and innovation in natural and 
renewable ingredients, are becoming even more relevant for our customers as 
they progress with their own sustainability roadmaps."

FY2022 ESG Performance Highlights

Acting on Climate Change: Firmenich was one of only two companies to receive a 
fourth consecutive CDP Triple A rating for climate, water, and forests. Three 
manufacturing sites, in Norway, Singapore and South Africa, were carbon neutral 
in FY22, all operating without the use of offsets. Firmenich maintained 
decoupling of growth in manufacturing output from its CO2 emissions: in FY22, 
Scope 1 and 2 emissions were reduced by 36.1% vs. 2017, and the new ingredients 
sites reduced Scope 1 and 2 emissions by 12.2% vs. 2020. The Group maintained 
100% Renewable Electricity in its operations including in new acquisitions[1]. 
Firmenich aims to reach carbon neutrality in its direct operations by 2025, 
absolute carbon emissions reduction by 2030 in line with limiting temperature 
rise to 1.5˚C, as well as net-zero emissions by 2039 across its direct 
operations and value chain (Scopes 1, 2, and 3). Its net-zero targets were 
validated by the Science-Based Targets initiative (SBTi) in August 2022, making 
Firmenich the first company in its industry to receive SBTi approval.
Embracing Nature: Building on UEBT validation of the Group's biodiversity 
strategy, work began on restoration at 15% of Firmenich sites with biodiversity 
risk, in line with Science-Based Targets for Nature. Implementation of 100% 
verified Access and Benefit Sharing (ABS) was increased. Firmenich continued to 
expand the proportion of ultimately or partially biodegradable ingredients in 
its fragrances to 96.6% on average, having surpassed its 95% target a year 
earlier. Firmenich reinforced green proteins in product development, enabling 
customers to accelerate the plant-based food revolution and contribute to 
climate change mitigation.
Caring about People: Building on gender pay equity and its work to strengthen 
inclusion, Firmenich achieved Living Wage certification by Fairwage Network in 
2022 ahead of the Group's 2025 target, a key step to ensure decent living 
standards for all employees and their families. The Group advanced its high 
global health and safety standards with an improved 0.26 Total Recordable Case 
(TRC) rate, and a third consecutive Gold Award from the Royal Society for the 
Prevention of Accidents (RoSPA). Firmenich continued to maintain zero human 
rights non-compliance and scaled up its effort to drive concerted business 
action by becoming United Nations Global Compact (UNGC) Impact Sponsor for 
Labor and Decent Work.
Overall, Firmenich achieved an upgraded rating from Sustainalytics with a score 
of 7.5, in the global top 50 of approximately 15,000 companies, that highlights 
the Group's low ESG risk profile. A second consecutive Platinum rating by 
Ecovadis with an industry-leading score of 88% placed Firmenich in the top 1% 
of all companies assessed worldwide. The Group was also rated for the first 
time as one of the "2022 World's Most Ethical Companies" by Ethisphere®, a 
global leader in defining and advancing the standards of ethical business 

Firmenich continued to work actively in alliances and partnerships, including 
the UN Global Compact, the Union for Ethical Biotrade (UEBT), One Planet 
Business for Biodiversity (OP2B), and the Science-Based Targets initiative 
(SBTi), to drive positive change at scale and foster effective action on 
climate, nature, and people in the business community.

More detailed information on Firmenich's ESG journey is available online in the 
ESG Report 2022.

The attached visuals from pp 9-10 of the report provide a snapshot of ESG 
performance highlights and progress against targets in the climate, nature and 
people pillars.


The Firmenich ESG Report 2022 is aligned with the OECD Guidelines for 
Multinational Enterprises, the SASB Materiality Map®, and is prepared in 
accordance with the Global Reporting Initiative's (GRI) standards. The ESG 
Report's contents also provide an update on the Group's progress with the 
implementation of the ten princi­ples of the UN Global Compact, the Sustainable 
Development Goals (SDGs), as well as B Corp certification. The document has 
been independently audited, receiving a reasonable level of assurance.

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

[1] Firmenich moved to majority ownership of ArtSci in May 2022. This entity is 
not included in the scope of the report and will be integrated gradually in the 
Group's ESG framework in FY2023.

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SOURCE: Firmenich