Essity presents new sustainability targets to reach net-zero emissions by 2050
STOCKHOLM, July 16, 2021 /PRNewswire/ — Hygiene and health company Essity today presents new and updated sustainability targets including a commitment to develop targets to reach net-zero greenhouse gas emissions by 2050 at the latest. This includes raising the ambition level of Essity’s current Science Based Targets. Other updated targets include sustainable innovations, occupational safety and responsible sourcing.
The net-zero ambition means that Essity will join the U.N. Global Compact’s “Business Ambition for 1.5°C” to develop targets to reach net zero emissions by 2050 for the entire value chain, in line with Science Based Targets initiative (SBTi) criteria. This includes an upgraded target in line with “Well-below 2°C” scenario and means the company commits to reducing its Scope 1 and Scope 2 emissions with 35% by 2030 from 2016.
Essity will reach the net-zero target and reduce its environmental impact by increased focus on energy efficiency, removal of fossil fuels, and increased use of renewable energy.
In addition, Essity has increased the ambition for sustainable innovations. The new target is that at least 50% of all innovations should yield a social and/or environmental improvement. Sustainable innovations are measured as share of revenue from innovations launched in the last three years.
For occupational safety, Essity has an updated target to reduce the total recordable injuries rate by 75% by 2025 compared to 2019. Essity has also updated the target for responsible sourcing to 95% of Essity’s total purchase cost is to be from suppliers that comply with Essity’s Global Supplier Standard by 2025.
“We are committing to ambitious targets that will require us to continue to constantly improve the way we innovate and contribute to a circular society. As a leading global hygiene and health company, Essity has an important role to play and together with our customers, consumers, and other partners for increased well-being for both people and the planet”, says Magnus Groth, President and CEO at Essity.
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Agrigate Global takes no editorial responsibility for the same.