Firmenich, a privately-owned Swiss fragrance and taste company, has made a commitment to become carbon neutral in its direct operations by 2025.
Its new environmental, social and corporate governance (ESG) strategy includes goals to have carbon positive operations and ensure all Firmenich produced fragrances are renewable by 2030, become water neutral in water-stressed areas, recycle or reuse 100% of its plastic waste as well as create 5,000 youth job opportunities over the next decade.
Firmenich claims to have become the first company in its industry to power all its operations globally with 100% renewable electricity in February 2020 and one of only two companies in the world to achieve the CDP Triple A rating for climate, water and forests for the third consecutive year.
It has decoupled its manufacturing output from its CO2 emissions, with output up 22% and Scope 1 and 2 emissions down by 45% since 2015.
Driving a sustainable & inclusive business model has always been our priority. We are proud to announce our new ESG strategy, driving our Group to a carbon positive and water neutral future within 10 years. https://t.co/Ei77ShbfGB pic.twitter.com/0db1Hv3Nhm
— Firmenich (@firmenich) February 4, 2021
It is also a founding member of the One Planet Business for Biodiversity Coalition (OP2B) to protect biodiversity and encourage regenerative agriculture.
Gilbert Ghostine, CEO of Firmenich said: “After achieving our 2020 COP21 environmental goals, it is now time to take our ESG leadership in renewable ingredients, conscious perfumery and diet transformation to the next level.
“Companies that commit today to address vital climate and social challenges will be the trusted winners of tomorrow. By accelerating the pace of our climate transition, we also encourage businesses to join us to create large-scale change.”