The Ferrero Group’s ambitious plans to halve all emissions from its owned operations by 2030 have been validated by the Independent Science Based Targets initiative (SBTi).
The Italian confectionery giant behind popular brands Nutella, Ferrero Rocher and Tic Tac, outlined its commitment to halving all emissions across its operations in line with the UN Paris Agreement to limit global warming to 1.5 degrees Celcius.
It has also committed to reducing greenhouse emissions by 43 per cent for each tonne of product produced. Both targets use 2018 as a base year, and both targets have been approved by the SBTi.
The SBTi is collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. To date, more than 1,000 companies around the world have joined the initiative.
In order to achieve its first target, Ferrero has developed a set roadmap to reduce emissions from plants, warehouses and main offices.
The path for all Ferrero’s global operations includes the transition to electricity coming from renewable energy sources only. Ferrero has already achieved this in Europe, where 100 per cent of its electricity purchased from the grid is certified renewable. Globally, 64 per cent of the electricity Ferrero purchases today is certified renewable.
For Ferrero’s second climate target, the company will work together with its suppliers to reduce emissions, rethinking solutions with lower carbon impact and developing new products.
Mario Abreu, Ferrero’s Chief Sustainability Officer, said: “With the approval of the SBTi, we are proud to join a common effort of companies who follow a science-based trajectory to tackling climate change. It is our responsibility as industry to be part of the solution by limiting our emissions and working together with all partners in our supply chain.
“We thank the SBTi for reviewing our climate targets and counting us among those companies that follow the most challenging roadmap.”
Cynthia Cummis, Director of Private Sector Climate Mitigation at World Resources Institute, one of the Science Based Targets initiative partners recognised Ferrero for its ambitious climate goals.
“We congratulate Ferrero for setting emission reduction targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement,” she said.
“By setting targets grounded in climate science, Ferrero is positioning themselves as leaders in the food and beverage processing sector for the transition to a net-zero economy.”
Ferrero will transparently report on its progress in achieving its climate targets on www.ferrerosustainability.com and in the annual Ferrero Sustainability Report. Companies must report their company-wide emissions and progress against their targets on an annual basis to the SBTi.