Colgate-Palmolive Company has announced its net zero emissions reduction targets have been approved by the Science-based Targets initiative (SBTi).
It has set targets to reduce absolute Scope 1 and 2 emissions by 42% and absolute Scope 3 emissions from purchased goods and services by 42% by 2030, from a 2020 base year.
The multinational consumer products company also aims to increase the use of renewable energy from 35% in 2020 to 100% by 2030 and reach net zero emissions across its value chain by 2040.
The SBTi target validation team determined Colgate-Palmolive’s targets are in line with the Paris climate agreement’s objective of limiting global warming to 1.5°C and the SBTi’s 1.5°C mitigation pathways for reaching net zero by 2050 or sooner.
Ann Tracy, Chief Sustainability Officer, Colgate-Palmolive said: “At Colgate, we are acting with purpose to reimagine a healthier future for all people, their pets and our planet – and we have established a robust organisation-wide commitment to ambitious, science-based emission reduction targets.
“Earning this designation from the SBTi, which is considered the global gold-standard for evaluating and approving climate targets, reflects Colgate’s commitment to making a meaningful impact for the environment and for the communities we serve around the world.”