Swiss fragrance and flavour business Firmenich has received approval from the Science-based Targets initiative (SBTi) for its 2050 net zero emissions target.
To reach its goal, the company is aiming to become carbon-neutral in its direct operations by 2025 and carbon-positive and water neutral in water-stressed areas by 2030.
Firmenich aims to reduce absolute Scope 1 and 2 emissions by 55% by 2030, compared to 2017 levels and absolute Scope 3 emissions by 90% by 2039 from a 2021 base year.
It has so far reduced Scope 1 and 2 emissions by 37.1% and Scope 3 emissions by 2.6%.
In addition, the perfume giant has committed to ensure 80% of its suppliers by spend will have science-based targets by 2026.
In 2020, Firmenich was said to have become the first company in its industry to achieve 100% renewable electricity worldwide.
Gilbert Ghostine, CEO of Firmenich said: “These ambitious goals aim at effectively reducing our environmental footprint, while actively engaging with our suppliers and customers to reduce CO2 emissions through our supply chain.
“Setting science based targets is crucial to future-proofing sustainable business growth while assuring the stability of our planet and climate system for generations to come.”