SWITZERLAND – World’s largest privately-owned fragrance and taste company Firmenich has demonstrated its commitment to a greener world with the approval of its net-zero emissions target by the Science Based Targets initiative (SBTi).
The Science Based Targets initiative (SBTi) is a global body that independently assesses and approves companies’ targets in line with the latest climate science.
Its stamp of approval legitimizes Firmenich’s commitments and customers and other stakeholders’ confidence that the company is truly committed to environmental goals.
This is particularly important now when major consumer packaged goods companies have been accused of greenwashing – the process of conveying a false impression or providing misleading information about how a company’s products are more environmentally sound – to attract customers.
Setting itself apart, Firmenich now has both its near- and long-term science-based emissions reduction targets verified and approved by the SBTi.
“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.”
The Swiss taste and fragrance company becomes the first company in the industry and one of the first companies globally to receive approval from the SBTi.
With the SBTi approval, the group said it 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.
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.
Firmenich equally commits to reduce absolute scope 3 GHG emissions 90% by 2039 from a 2021 base year and targets to have 80% of its suppliers by spend achieving science-based targets by 2026.
The approval of the net-zero emissions target builds on earlier important milestones in tackling climate change including transition of all its sites to 100% renewable energy in February 2020.
Firmenich 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.
The company is also a founding member 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. Others include Unilever, Danone, Nestlé and L’Oréal.
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