Ferrero and Climate Change: new 2030 sustainability goal
Latest evolution of the "Care for the Better" commitment
The Ferrero Group has published its 11th sustainability report as the latest evolution of its "Care for the Better" commitment. In the Report, Ferrero outlines ambitious new goals to reduce its carbon footprint by 2030 and provides an overview of the sustainability goals and progress made.
The Group has set itself two objectives to reduce greenhouse gas emissions. By 2030, the company aims to halve all emissions from its operations (ie emissions in technical jargon "Scope 1 and 2"), in line with the Paris agreement goal to limit global warming to 1.5 degrees Celsius. Overall, Ferrero is committed to reducing emissions by 43% for every ton of product manufactured. Both goals use 2018 as the base year.
The report also provides an update on the company's other sustainability initiatives. In 2019 Ferrero announced its commitment to make all packaging 100% reusable, recyclable or compostable by 2025. As part of this announcement, the company signed the "New Plastics Economy Global Commitment" promoted by the Ellen MacArthur Foundation . Since January 2015, Ferrero has achieved the goal of sourcing exclusively Rspo certified and 100% sustainable palm oil. Last year the company was listed as the most sustainable company in the world in its sector by WWF in the "Palm Oil Buyers Scorecard". The report also highlights the progress of the Ffv (Ferrero Farming Value) programs, launched in 2013 to develop a sustainable supply chain for each of the main raw materials used by the industry. Finally, the report reveals that in 2019, 81% of cocoa beans were sourced from certified sustainable sources, the company is on track to reach the 100% target by the end of this year. Activities include strengthening field programs with NGO suppliers and partners, as well as implementing the International Cocoa Initiative (ICI) monitoring and countering child labor systems throughout the cocoa supply chain.
Giovanni Ferrero , executive chairman of the Group, said: "With the end of 2020 approaching, we are defining a new strategy and commitments to address the risks and opportunities in the area of sustainability in the most relevant dimensions for our business areas. In our new report, we provide a preview of our new strategic sustainability priorities, including our new 2030 climate target. We will continue to communicate developments and progress related to the new strategy as we enter an exciting new era in our corporate history".
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