Firmenich joins the Business Ambition for 1.5C
Geneva, Switzerland, 31 July 2019 – Firmenich has announced that it is stepping up its climate action by setting 1.5°C science-based emissions reduction targets for a net-zero carbon future by no later than 2050, alongside 28 visionary companies. Ahead of the UN Climate Action Summit, it is joining the “Business Ambition for 1.5C: Our Only Future”, a broad coalition of leaders committed to limiting global temperature increase to 1.5°C and challenging governments to match this ambition.
“The clock is ticking on climate change and it is imperative that business, governments and civil society act together, because there is no sustainable future if we leave the planet behind,” said Gilbert Ghostine, CEO Firmenich. “We are making great inroads on our vision to be carbon neutral, as one of only two companies this year with a CDP triple ‘A’ ranking, however, given the scale of today’s challenge, we must act together to win the race for climate! I encourage all businesses to join us!”
The “Business Ambition for 1.5C: Our Only Future” Coalition challenges Chief Executive Officers to set ambitious targets for their companies in line with last October’s report by the Intergovernmental Panel on Climate Change (IPCC) which made the case for limiting global temperature rise to 1.5°C above pre-industrial levels. To join the coalition, companies must set verifiable science-based targets through the Science Based Targets initiative (SBTi), which independently assesses corporate emissions reduction targets against scientific best practice.
Paul Simpson, CEO of CDP, one of the SBTi partners, said: “The science is clear: in order to limit the catastrophic impacts of climate change, we must ensure warming does not exceed 1.5°C. The ambition is high but it’s achievable — and science-based targets give companies a roadmap for getting there. Corporations worldwide have an unprecedented opportunity to be at the very forefront of the transition to a net-zero economy — and there is no time to lose.”
Building a prosperous, net-zero carbon economy by 2050 requires a transformation of unprecedented pace and scale, with decisive business leadership and investment in climate solutions supported by ambitious government policies. By setting ambitious policies and targets in line with a 1.5°C trajectory, Governments give business the clarity and confidence to invest decisively in the zero-carbon economies of the future.
Recognized as a global environmental leader, as one of only two companies this year with a CDP triple “A” ranking for climate, water and forestry, Firmenich is reinforcing its climate action by joining this coalition. As signatories of the Paris Pledge for Action, Firmenich set itself ambitious and stretch environmental goals to tackle climate change. As an example, the Group aims to operate with 100% renewable electricity at all manufacturing sites by 2020 and has already reached this objective across its operations in Europe, North America and Brazil, with an 86% global rate to date. It also joined RE100, to accelerate its commitment to 100% renewable power alongside more than 191 of the world’s most influential companies. Furthermore, Firmenich is one of 233 companies worldwide to have approved science-based targets today.
To join the movement and take action, visit: unglobalcompact.org/OurOnlyFuture
Firmenich is the world’s largest privately-owned perfume and taste company, founded in Geneva, Switzerland, in 1895. Driven by its purpose to create positive emotions to enhance wellbeing, naturally, Firmenich has designed many of the world’s best-known perfumes and tastes, bringing delight to over four billion consumers every day. Renowned for its world-class research and creativity, as well as its leadership in sustainability, each year, Firmenich invests 10% of its turnover in R&D to understand and share the best that nature has to offer responsibly. Firmenich had an annual turnover of 3.7 billion Swiss Francs at end June 2018. More information about Firmenich is available at www.firmenich.com
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