The Science Based Targets initiative (SBTi) has validated the targets set by hygiene and health company Essity to achieve net-zero greenhouse gas emissions by 2050.
The approval applies to all near- and long-term targets in Scope 1, 2, and 3, the company noted.
Essity developed the roadmap as part of the UN Global Compact’s 'Business Ambition for 1.5°C'.
Magnus Groth, president and CEO of Essity, stated, “Climate change is one of the defining issues of our time, and Essity has made a firm commitment to achieve net zero emissions by 2050.
“Our progress is driven by a sense of urgency throughout the organisation, together with a strong innovation focus, and collaboration with customers, partners, and suppliers.”
Net-Zero Goals
Essity's near-term Scope 1 and 2 targets, which relate to energy use within the company and purchased energy, is to achieve a 35% reduction by 2030.
The company's near-term Scope 3 target has been updated from 18% to a 35% reduction within the same timeframe.
This includes purchased goods and services, transportation, production waste and end-of-life treatment of sold products.
All targets are relative to a 2016 baseline, the company noted.
Overall, Essity’s long-term target is to achieve net zero emissions across its value chain no later than 2050.
In July, the Swedish company reported second-quarter core earnings above expectations, citing cost savings, while volumes rose in nearly all of its categories.
The maker of Tork and Libresse brands posted adjusted earnings before interest, tax and amortisation (EBITA) of SEK 5.40 billion (€467 million) for the quarter ending in June, compared to SEK 4.62 billion (€399.8 million) a year ago.
