The SBTi is a coalition of the CDP, United Nations Global Compact, World Resources Institute and WWF
Colgate's targets were found to be in line with the Paris Agreement’s objective
Colgate-Palmolive Company’s net zero emissions targets have been approved by The Science Based Targets initiative (SBTi).
According to the company, it is the first multinational in the consumer durables, household and personal care products sector to receive approval.
SBTi is a coalition of the environmental non-profit CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
The SBTi Target Validation Team determined that Colgate’s targets are in line with the Paris 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.
The FMCG conglomerate’s targets include reducing absolute Scope 1 and Scope 2 greenhouse gas (GHG) emissions by 42% by 2030 from a 2020 base year; increasing the annual sourcing of renewable electricity from 35% in 2020 to 100% by 2030; reducing absolute Scope 3 GHG emissions from purchased goods and services by 42% by 2030 from a 2020 base year; and reaching net zero GHG emissions across the value chain by 2040.
“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,” said Ann Tracy, Chief Sustainability Officer at Colgate-Palmolive.
“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.”